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Additional Security: IPPB QR card

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On September 1st, 2018 Prime Minister Modi launched the IPPB- India Post Payment Bank in New Delhi. IPPB offer services like SMS banking, Mobile banking, fund transfers. IPPB has the aim to serve the rural people with the help of rural postmen. Additional security included at IPPB by introducing QR card. The bank uses QR cards for its transactions instead of ATM/Debit cards.

What is QR card?

QR card,  a card with Quick Response code used for scanning. It is a more enhanced security purpose card. The QR code will be of a two-dimensional barcode. This is a contactless payment option. Here, the user needs to scan the code for payment instead of following the traditional ATM/Debit card method. However, the QR codes can be scanned with the help of smartphones or hand-held device (micro-ATM) used by postmen. Also, in rural areas, Rs.25 charged for cash transaction at the doorstep banking services.

How do QR cards work?

The QR card has the account number along with it. So, it is not necessary for the customers to remember the account number. To make the transaction customers must scan the QR code available on the card and follow a biometric authentication. However, the transaction completes after the biometric verification.

Advantages of QR cards

  1. These cards are very easy to use.
  2. Due to the biometric authentication, usage of these cards considered as the safest mode. so, their maybe minimal chances of fraudulent transactions.
  3. customers can be free from the thought of the PIN details being stolen.
  4. Remembering of account numbers and PIN passwords are not mandatory
  5. These cards are accepted by all the merchants and all IPPB counters.
  6. Simplified account access.

Hence, to provide the customers with the banking services at doorstep around 3 lakh postmen and rural postmen(gramin dak sewaks)  are deployed by IPPB. Finally, we have to wait till the operations are made available throughout India.

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