homefinance NewsIndia Post Payments Bank to replace debit cards with QR cards

India Post Payments Bank to replace debit cards with QR cards

India Post Payments Bank to replace debit cards with QR cards
Profile image

By CNBC-TV18 Sept 5, 2018 11:21:25 PM IST (Updated)

India Post Payments Bank launched Quick Responsive(QR) cards to replace ATM and debit cards for cash and cashless transaction.

India Post Payments Bank launched Quick Responsive(QR) cards to replace ATM and debit cards for cash and cashless transaction, reported Zee Business.

Recommended Articles

View All

The QR card functions on biometric authentication and doesn't need passwords or PIN, the report said, adding that it contains a QR code or barcode to identify the account holders.
The codes can read through a smartphone or micro-ATMs, the report added.
QR card can be considered as a safer option than ATM cards as it carries an extra layer of biometrics.
Here are the 3 steps to use QR code:-
  • Scan the code
  • Authenticate through biometric verification
  • Complete the transaction
  • QR card transactions can be done through postmen, post offices or kirana stores. It can also be used for withdrawal of money, money transfer, bill payment and cashless shopping.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

    Top Budget Opinions

      Most Read

      Market Movers

      View All
      Top GainersTop Losers
      CurrencyCommodities
      CompanyPriceChng%Chng