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
Cash-Back offer at Corporation Bank this...
South Indian Bank launches Mobile banking...
Students Credit Cards in India
Bankers concerned on RBI loan recovery...
Multi-currency card- A hassle-free...


+91-96-947-71-697- मंगलिक दोष...
प्यार विवाह...
Bangalore ℂall ℊiℝls 8884081673 pankaj ℂall...
what is my credit card statement
i forgot my ATM pin number i could i get it again
how to improve my CIBIL score???

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