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Showing posts with label QR Cards. Show all posts

September 09, 2018 ,
QR- Quick Response
India Post Payments Bank’s (IPPB’s) new QR card is all about making banking easier and cost effective. Here is a look at the comparative advantages of a QR card over a debit card.
  • Although new to most Indians, the QR card by India Post Payments Bank makes banking simple, cost-effective and widely available.
  • New Delhi: For millions of Indians used to withdrawing cash through ATMs and making payments using debit cards, India Post Payments Bank (IPPB) has started a new way of retail banking. Carrying a QR (Quick Response) code, IPPB’s new QR card does away with the necessity of both ATM and debit cards for cash and digital transactions.
Unlike a regular debit card where you have to enter a PIN each time you make a payment, QR cards are just scan and pay. For security all it needs is biometric authentication or your fingerprint scan.

Although both have their advantages, QR cards score over debit cards if banking has to be made accessible for everyone.


IPPB’s QR card doesn’t need any password or PIN to operate unlike debit cards. A biometric verification using your fingerprint does the job.

Ease of banking

A QR card is probably the best option for those who do not want to hunt for ATMs. Just ask your post office, postman or Grameen Dak Sevak (GDS) to come down to your location and give you cash. But doorstep banking from IPPB comes to you at a cost of Rs 25 per transaction. And for digital transactions, the charge is even lower at Rs 15.

For the elderly, the sick or those in remote areas the ease of banking offsets the cost of making the transaction. If you are technologically challenged, the human intervention by a postman makes things easier. The technology being used by India Post Payments Bank itself is quite simple.

How the QR card works

The postman or GDS, whether at your home or post office or any other IPPB access point, scans your QR card using a smartphone app or a QR code scanning machine. Once your credentials are identified, the postman has to make sure that the account holder is making the transaction. ATMs or point-of-sale machines which use debit cards do so by asking you for a PIN. Transactions are denied in case you forget the PIN. It also carries the risk of being misused.

The QR card, on the other hand, is very simple to use. You don’t need to remember your account number or any password. The postman will simply scan your fingerprint, QR code and make the payment.

India Post Payments Bank is also trying to bring the unorganised retail sector on board, which means you will soon be able to pay for your groceries at any local kirana shop using a QR card.

IPPB is offering 3 types of savings account and a current account for small traders. All accounts come with zero balance and no maintenance charges.

QR card is cheaper
The comparative cost advantage lies not just in the cost of manufacturing a QR card as compared to a chip-based debit card but also in the cost of machines to make such transactions.

A QR card can be scanned easily through a smartphone app without the need of a point-of-sale (PoS) machine.

September 04, 2018 ,
The QR card you receive from India Post Payments Bank (IPPB) cannot be used in ATMs or as a debit card. However, you will still be able to withdraw cash as well as make transactions. Here’s how. 


New Delhi: India Post Payments Bank (IPPB), which was launched on Saturday by Prime Minister Narendra Modi, does away with ATM cards and debit cards for both cash and cashless transactions. Instead, IPPB will issue new QR (Quick-Response) cards which work on biometric authentication and not on passwords or PINs.

At present, IPPB offers 3 types of savings accounts—regular, digital and basic—besides a current account. Although each one of them has different features yet none offers an ATM or debit card.

IPPB has already launched its app, which can be used for mobile banking and even for opening an Aadhaar-based account without visiting a post office. However, the mobile app is expected to be fully functional in the next few days.





What is a QR card
A QR card contains a QR code or barcode that is used to identify account holders. No two QR codes are the same. The code can be deciphered to identify the IPPB account holder through a smartphone or micro-ATMs, a hand-held device which will be used by postmen soon.

How to withdraw money using a QR card
Once the customer identification is done using the QR code, the postman or banking correspondent will conduct another verification using biometric data. Upon completion of the two-step verification process, the customer is paid in cash which is carried by the postman. The doorstep banking service, which will be particularly handy for those in rural areas, comes at a cost of Rs 25 per cash transaction.
Besides this, you can also use the QR card for money transfer, bill payment and cashless shopping.

Where to use the QR card
QR card transactions can be done through postmen, post offices or Grameen Dak Sevaks (GDS). IPPB is also bringing unorganised retail, including small merchants and kirana stores, on board. Once the system is in place, you can pay even at small stores using your QR card.




What are the advantages of having a QR card
Anyone have a physical copy of your ATM card and PIN will be able to withdraw cash from any ATM. Not so with a QR card. It doesn’t work at ATMs at all and even at post offices or with postmen and Grameen Dak Sevaks (GDS) you need biometrics. Therefore, there is an added layer of security for the money kept in your bank account.

It also saves you from the hassles of remembering PINs.
You don’t even need to remember your IPPB account number to use this QR card.
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