| There was a time when there was just one option to | | | | ATM's or in POS machines. Enter an ATM with touch |
| pay for the purchases/bills made in malls or restaurant, | | | | of your thumb and then withdraw or deposit money |
| And that was cash. | | | | with your Thumb or your eye retina as secure code to |
| People had to carry a big fat wallet before stepping | | | | access the ATM machine. All you need is pockets in |
| out of their house. | | | | trouser to keep the cash. but even that can overcome |
| And then banks came up with an idea of Cashless | | | | if technology gets advanced to this stage: |
| banking with the help of plastic money, i.e. debit/credit | | | | Explaining the technology behind this: Its as simple as |
| cards. | | | | transferring the unique value from your credit card |
| It has shrunk our wallet. | | | | after entering the amount to the remote Mainframe |
| We hardly carry cash anymore anywhere. Just take | | | | machine, which stores all your information, but in this |
| out your card and swipe it in POS. No worries of | | | | case instead of transferring the credit card unique |
| carrying cash,or for that matter begging for change | | | | number, we will transferring the encrypted values of |
| when you carrying an 1000 rupee note. Card made | | | | your fingerprints to the remote server, which after |
| everybody's life comfortable and relaxed. But few | | | | cross-checking your values received from POS or |
| incidences made this card pain in neck. In case | | | | ATM with the server will give you the go- ahead!!!! |
| someone looses his/her wallet, then the only option | | | | signal. |
| was to look out for customer care number (lucky | | | | Banks can use the same secure technology in |
| enough if its saved in your phonebook) else look out | | | | providing you credit and debit cards. All Banks need to |
| for an nearest respective bank ATM. | | | | do is provide you an 4 digit number which will help |
| Stand in IPVR queue and after answering the IPVR | | | | customers to identify the bank name they are |
| which is possible only if you remember the card | | | | transacting with. |
| number (impossible in for most of us), you could | | | | Assume you having dinner with your family in |
| complain for the lost card. But this was still fine in case | | | | Frangipani. Once you done with your delicious pasta |
| you are carrying an Credit card, as you are given 48 | | | | meal, you ask cheque. The waiter comes up with your |
| hours to report loss of card. | | | | cheque and a wireless POS. All you need to do is |
| Or in an second incident if someone steals away your | | | | press your right hand fingers on the POS to pay the |
| debit card and decrpyts your PIN, you had just no | | | | bill. (Make sure your wash hands before that). |
| option to save your hard earned money. | | | | Now as we are so addicted to western culture that, |
| Sometime back we added another feather in our | | | | we are just not contended with 1 credit card. So how |
| Banking technology, using our beloved cell-phone to do | | | | will you transact with the card which has still not |
| our major transactions like paying monthly bills, to | | | | crossed its maximum limit. Banks have provided you |
| booking your tickets. I wont say this has reduced the | | | | an 4 digits unique id. to identify the card you are |
| wallet weight, but certainly had made access a bank | | | | banking with. For example 1000 refers to ICICI credit |
| at any corner of world. That's know remote banking or | | | | card, similarly 5000 may be for CITIBANK or 5555 for |
| Banking on the fly. | | | | my favorite Barclays:). |
| Now imagine a life without this plastic money. The | | | | These numbers can be stored in your phone or for |
| whole money transaction can be done only in your | | | | making your life much easy, a list with these unique |
| presence but without any card or cash. | | | | code can be provided to the shops/restaurants. |
| Yes a world without Cash and Plastic money. This is | | | | So now you can imagine a life without wallet, so no |
| called New Generation banking: The Finger Touch | | | | worries about whereabouts of your wallet while |
| banking. | | | | leaving your couch, as we only need to make sure we |
| Your fingers impression is your access code in all | | | | carry our fingers along with us. |