Yes Bank to use biometric for payments with Lastmile.mobi

Yes Bank’s customers will be able to make deposits and withdrawals, transfer funds, open accounts and sign opening forms using a scan of their iris, in what the bank claims is the first implementation of its kind in the country.

The device allows biometric authentication through iris scanning, and can act as a POS terminal as well as an ATM. Lastmile.mobi provides a cloud-based platform accessible by a biometric enabled mobile device. The solution integrates with cards and UPI (Unified Payments Interface) payments, Aadhaar E-KYC and Aadhaar E-signing on a ready to use basis.

In related news, Yes Bank also teamed with payments company PhonePe to launch a UPI-based mobile payments app, it deployed Gemalto’s SafeNet Network HSM to secure mobile payment transactions for its customers and it partnered with Ultracash Technologies to launch payments processing through sound waves.