Fino Pay­ments Bank to use new mPOS de­vices

Banking Frontiers - - Pb-sfb -

Fino Pay­ments Bank is de­ploy­ing multi-util­ity An­droid-based mPOS de­vices across 10,000 bank­ing points in the coun­try in a phased man­ner. The bank said this de­vice will re­place the com­bi­na­tion of de­vices cur­rently used to fa­cil­i­tate fin­ger print authen­ti­ca­tion and dig­i­tal trans­ac­tions. The de­vice has an in-built fin­ger print scan­ner, card reader, cam­era, printer and tablet, in a por­ta­ble form fac­tor. Ashish Ahuja, ex­ec­u­tive vice pres­i­dent and head - Prod­ucts at the bank said in the next 12 months, the bank would de­ploy these de­vices at 10,000 re­tail as well as cor­po­rate bank­ing points, in­clud­ing branches, BPCL out­lets, fran­chisee points and part­ner bank’s BC chan­nel. The bank has al­ready de­ployed around 2000 de­vices to en­hance doorstep and neigh­bor­hood bank­ing ser­vices in ur­ban as well as rural ar­eas for the con­ve­nience of our cus­tomers, he added. With the mPOS de­vices, the bank will be able to pro­vide all the bank­ing ser­vices, be it ac­count open­ing, de­posit, with­drawal, money trans­fer, prod­uct sales (in­sur­ance, gold loan leads, BC lend­ing ser­vices) and Aad­haar-en­abled pay­ment sys­tems (AEPS), to cus­tomers right at their doorstep.

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