India Post Payments Bank to facilitate doorstep banking via biometrics

Monday 27 August 2018 00:24 CET | News

The government-owned India Post Payments Bank (IPPB) has announced plans to buy smartphones and biometric devices to facilitate doorstep banking.

Starting with the launch of 3,250 access points, IPPB said it will be spreading its footprint and leveraging the vast postal network of nearly 1.55 lakh post offices and three lakh postal employees to serve its customers in every district, town and village, according to the Hindu Business Line.

IPPB, which was incorporated as a public limited company with 100% government holding under the Department of Posts on August 17, 2016, is looking to procure about 1.6 lakh smartphones and about 2.7 lakh biometric devices (scanners) to facilitate doorstep banking.

This aggression in procuring electronic devices that will help it source and service customers across the country shows the new bank is throwing down the gauntlet to its competitors. In March 2018, the bank has launched a pilot branch each in two Indian regions, Raipur and Ranchi.

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Keywords: India Post Payments Bank, IPPB, biometrics, payments, India, banking, postal network
Countries: World

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