India Post Payments Bank (IPPB) replaces ATM/ Debit cards with QR cards: ippb India Post Payments Bank (IPPB) is offering new QR (Quick-Response) cards and does away with the conventional ATM and debit cards for both cash and cashless transactions. The new QR cards work on biometric authentication and not on passwords or PINs. The QR card contains a QR code that is used to identify the account holder through a smart phone or micro-ATM which will be used by the postman. Once the customer identification is done the postman or banking correspondent will conduct another verification using biometric data. Upon verification, the customer is paid in cash by the postman. This door step banking service comes at a cost of Rs.25 per cash transaction. An important advantage of using QR cards is the added layer of security through biometrics.
