WAP which is the abbreviated form of Wireless Application protocol, is an international standard. It allows mobile tools like smartphones, iPhones and laptops to acquire internet connection while becoming compatible with big network bearers. The ability to authorize transactions allows WAP to supersede the recent implementation of mobile banking applications through 2 way messaging (SMS).

WML (Wireless Markup Language), is a variation of HTML that is used for making applications for wireless devices through open platforms, and is used for WAP billing as well. During a normal WAP billing procedure, packets carrying data, from wireless devices use the wireless network configured according to the WML settings to travel to a WAP gateway. Certain parts of data that are crucial are rearranged and then shifted to a server that can handle HTML. server, in route to a wireless device.

The WAP solutions described are generally in two parts: 1) a WAP server that distributes information and applications and 2) a WAP gateway controlling access. operators. Presently, banks are going for a closed model for WAP banking implementations, and servers are able to stay on the main site of the network. This allows banks to release control of their information and provide access to mobile banking applications and operators. However, there is a security glitch in the closed model which happens because of unencrypted data at the server that undermines the security. Conversely an open model has the gateway and server situated within the secure environment of the bank and it can deal with such issues. However, it is a lot cheaper to install closed models, and they provide fast marketing as well.

You have to realize the fact that more usually than not it is the customers who have to manage their banking requirements. These include going to an ATM, making a deposit or transfer, or calling a call center for those dreadful customer service automatic systems. You are supposed to take the initiative in these areas of banking. Managing your bank account can never be simple, and entails a lot of labor. But, if we take benefit of the fact that there are more than four times the amount phones (smartphones, iphones, etc) as PC’s in circulation today, our life could be less troublesome. Mobile banking applications and WAP billing is being used by major banks around the world. Because of this, banking has become a lot more secure convenient and trouble free.