India Post Payments Bank to use QR card instead of a debit card
India Post Payments Bank was launch on September 1 in New Delhi by Prime Minister Narendra Modi. IPPB is focused to provide doorstep banking services to people across the nation. In a way, it aims to make banking service more accessible to the rural population with the support of gramin dak sevaks (rural postmen).
Now users do not have to remember or not PIN as transactions are initiated by biometric authentication post scanning the QR code printed on the card. If in case of lost QR card, nothing to worry, the money would be safe in the account as each transaction id authenticated only through biometrics.
Apart from the QR card option, IPPB will provide services like SMS banking, mobile banking, phone banking and miss call banking as well. It is very convenient to use through the IPPB mobile apps and does not require expensive PoS infrastructure to operate.
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