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IPPB Not to Use ATM Cards, Introduces QR Cards
September 24, 2018
The newly launched India Post Payments Bank (IPPB) will not use ATM and debit cards for accepting or sending payments. Instead, it will use new quick response (QR) cards which will be protected by biometric data rather than a personal identification number (PIN) which is common to traditional credit and debit cards.
IPPB’s QR cards will feature QR codes or barcodes that will be unique to the account holders. Bank correspondents and postmen will recognize customers with their QR cards and authenticate transactions with the help of their biometric data.
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