Indian Bank Pilots Biometric Smart Cards
Union Bank of India has teamed up with Indian software firm Financial Information Network and Operations (FINO) and Cashpor Micro Credit to launch a biometric smart card trial in Uttar Pradesh.
The biometric smart cards, which are being issued to people without bank accounts, contain the cardholderÆs fingerprints and banking information on a chip. This enables them to act as electronic passbooks, The Hindu Business Line says. According to MoneyControl(http://www.moneycontrol.com/india/news/pressmarket/union-bankindia-ushersnew-wavebankingup/282739), biometric smart cardholders can access banking services by inserting their cards in a handheld reader. So far, Union Bank of India has issued around 1,000 biometric smart cards in four villages in Uttar Pradesh, with the aim of issuing a total of 5,000 cards initially. FINO, which specializes in financial technology for the unbanked, is providing technical support for the pilot. Related Links
www.unionbankofindia.co.in
www.fino.co.in/
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