ContactlessNews | Ten million FINO customers in India use micro-banking on Gemalto smart cards

Wednesday, December 14, 2011

Gemalto announced that 10 million Financial Inclusion Network & Operations (FINO) customers in India now benefit and take part in micro-banking, using Gemalto smart cards, as part of FINO’s broader branchless banking program.

FINO’s transactions are validated using biometric authentication. End-user card transactions are approved after fingerprint information is verified through payment terminal readings and the card embedded software processing at business correspondents of FINO.

Business correspondents of FINO, called Bandhus, move around by bicycle or motorbike to provide door step delivery of services, carrying a portable smart card reader to help villagers with their everyday transactions.

Each Gemalto-powered FINO card can securely store up to 15 types of applications that facilitate daily life financial services such as deposit remittances, savings, loans, insurance and e-purses.

HSBC starts roll out of contactless bank cards

HSBC announced that it will begin the conversion to contactless technology this month, replacing all customer banking debit cards, according to ThinkMoney.com.

The bank will start to roll out the new contactless cards to existing customers whose debit cards are due to expire this month and then continue the process as cards expire. Customers who don’t want a contactless card can opt out by contacting their bank before their current card expires.

Fingerprint Cards extends Miaxis partnership with eye on Chinese banking sector

Sensor supplier Fingerprint Cards AB (FPC) has extended its partnership with Chinese biometrics provider Miaxis Biometrics Co. LTD to deliver biometrics products to the Chinese banking sector.

Austrian bank selects Gemalto for online banking security

Gemalto announced that Raiffeisen Banking Group, a financial institution in Austria, has selected the Ezio Edge Optic solution to secure its online banking services. Raiffeisen is the first Austrian banking group that offers digital strong authentication devices almost everywhere across Austria.

Saudi bank deploys Gemalto banking cards

Al Bilad Bank, a Shariah-based financial organization in Saudi Arabia, has deployed Gemalto’s Dexxis Instant Issuance solution for EMV payment cards in more than 120 bank branches. With this system, Al Bilad can issue up to 2,000 EMV DDA high-end security smart cards a day.

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