NEWS & ADVICE : CREDIT CARDS
Biometrics need to be scanned in ATM's and credit card swipe machines
By Ankit Sharma
Sep 13, 2013
Print    Email    RSS   

The new ATM's and machines that are used to swipe credit cards will be needed to have a mechanism installed in it for the Aadhaar authentication this will help to improve the security as well as promote a financial inclusion. Presently there is a debate that is going on between the Aadhaar authentication and the international chip and pin for providing extra security for the transactions made by card.

All the banks are planning to add more PoS machines and ATM;s, however it is essential that the new one's should have the facility to scan the biometrics. This would defiantly increase the costs in investments and banks would need to find new ways to generate the funds for the same.

There is an expectation that the Aadhaar system would boost the banking space. As stated by Raghuram Rajan who has taken the charge as governor of RBI, stated that he wanted to put emphasis on the use of a unique identification, Aadhaar as well as building the credit history of every individual.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Utilise credit card reward points
Handle your credit card with care
Kisan Credit Card: Allowing easy credit...
Some quick facts about CIBIL report
Avoid withdrawing cash from your credit card


Radhey@09646870399 @Escoℛts In#Chandigarh...
Radhey@09646870399 @Escoℛt In#Chandigarh...
Radhey@09646870399 @Call#Giℛls In#Chandigarh...

NEWS THIS WEEK
91st Founders day of the Karnataka Bank Feb 18, 2015
Banks on strike from 25th February Feb 16, 2015
SBT bank postponed the Open House meet Feb 13, 2015
Yes bank planning to line up for credit card portfolio Feb 12, 2015
Pocket banking – new app by ICICI bank Feb 11, 2015
News Archive