Ingenico and Infrastructure Leasing & Financial Services Education Technology & Services Ltd. (IL&FS ETS), one of India's infrastructure development and finance company, have partnered to launch of smart card based biometric financial inclusion solution.
The solution, biometric BIO930 G wireless series, which was 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.
Officials with Ingenico said that 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.
"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,” said Roy Mathew, vice president of IL&FS ETS, in a statement.
“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," said Mathew. Added Vivek Sagar, chief executive officer of Ingenico International India Pvt Ltd., "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,” said Sagar Ingenico is a provider of payment solutions, with over 15 million terminals deployed in more than 125 countries.
Earlier in February, Ingenico, in partnership with Cybertill, the U.K.'s EPoS and e-commerce provider, had launched WebPOS – a revolutionary point of sale solution for single store independent retailers, which could spell the end of the cash register.
WebPOS combines Ingenico's best of breed point of sale hardware, the iWP200 series, with Cybertill's Retail Store One, a cloud-based EPoS software, specifically designed for independent retailers. WebPOS is an all in one integrated solution that not only improves payment processing, but also manages stock, tracks customer preferences, generates reports on fast moving products and slow sellers, and will even help to reduce theft.
Anil Sharma is a contributing editor for TMCnet. To read more of his articles, please visit his columnist page.
Edited by Carrie Schmelkin