16 Mart 2011
India: Ingenico and IL&FS ETS launch Smart Card Based biometric Financial Inclusion solution
Ingenico (Euronext : FR0000125346 - ING), leading worldwide provider of payment solutions, has joined hands with Infrastructure Leasing & Financial Services Education Technology & Services Ltd.(IL&FS ETS), India's leading infrastructure development and finance company for the successful launch of Smart Card Based biometric Financial Inclusion solution.
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This electronically operated banking system infrastructure has created banking Points of Service (PoS), spread across geographies, to provide banking service to the unbanked population of the country in a secured manner generally within three kilometres of their residence. The IL&FS ETS Financial Inclusion team caters to the entire requirement of State Government, Banks and Service Providers to manage various Government benefit transfers to beneficiaries under MGNREGS, SSP, Scholarship payments and also facilitates Business Correspondent and Business Facilitation services.
Through IL&FS ETS scheme the regulator is focused on improving the reach of financial services and Government social benefit schemes in new and innovative ways such as Online biometric authentication through internet-connected PC system, Smart card based authentication with PoS terminals, Mobile based Financial Inclusion Applications (SMS, USSD,GPRS etc.)
In order to facilitate this, Ingenico, working closely with IL&FS ETS team, developed a unique biometric BIO930G wireless series
which is a highly secure, reliable, robust and integrated handheld POS terminal.
Enabling financial inclusion to people with low incomes is core to our operational philosophy and we are proud to have rolled out some of the most successful financial inclusion projects in India. We are really happy to have Ingenico as a technology partner as they have outstanding technology and experience in rolling out such large scale programs. Their solutions perfectly address all the technology challenges we had and have been pivotal in making this initiative a resounding success," says Mr. Roy Mathew, Vice President, IL&FS ETS.
Designed to simplify user identification and authentication, and make it easy to integrate biometric control into a wide range of payment, state allowance and micro credit applications, the Bio 930G wireless
family of terminals seamlessly optimize the entire biometric control process supported by audio backup for each transaction, enabling the uneducated customer to hear the amount thereby ensuring that any last minute fraudulent input can be apprehended and also removed, thereby enabling Banks to deliver a large range of secure financial and banking services to the rural population.
Ingenico has played an instrumental role in enabling many ambitious financial inclusion projects roll out in India by providing world class biometric verification and authentication POS solutions. The implementation of Ingenico's Bio930G POS terminals in IL&FS ETS' financial inclusion initiatives further reinforces our proven expertise in rolling out financial inclusion solutions that enable quick access to banking services, financial services and other government social benefit schemes to the doorstep of the deprived populace," says, Vivek Sagar, Chief Executive Officer, Ingenico International India Pvt Ltd
This highly efficient and cost effective solution rolled out by Ingenico caters to various financial transaction needs of the common man. It ensures that all kinds of financial institutions, even the smallest, can carry out inclusive banking. The solution enables common man to easily access micro banking services and helps to bridge the rural urban financial divide in a very effective manner.