The rise of mobile banking has been observed in this times because of the advantages that it can give. There are many and so they are now also preferred than the traditional banking. As people tend to be always busy and moving and doing something so time became scarce for them and so they have to find a way for them to be able to do what they should finish. One of them is about their financial transactions. Here is a guide or introduction of mobile banking.
You can see the effect of mobile banking in the infographic below. It is not just at the personal level but also in the broader view and in the specific mobile level. The activity on what is done when one makes a purchase using the mobile phone is illustrated and explained. You can also see what is happening and what does the user can be able to avail and what should he do for the transaction.But they do not monitor much how much was spent like for a month.
It became dangerous as people tend to spend more than their budget. Because the process is very easy and it can just take one minute or one text to complete the transaction that is why it is very tempting. The process of doing the transaction is comfortable and very convenient but the effect is shocking especially when people will now look into what is left of their money.