Use of IPPB QR Card: The India Post Payments Bank has almost replaced debit card and ATMs for cash and non-cash transactions with QR (Quick Response) cards. If successful then it can make ATM cards a thing of the past.
Unlike ATM cards, a QR card works based on biometric authentication and does not need any passwords or PIN codes. As per the IPPB, “the QR card will redefine the way bank transactions are done”.
QR card offers a secure, unique, and appropriate way to log into your account without having to remember your account number.
There is no need to remember the PIN/password because transactions can be done by using biometric authentication. With this card you can make cash transactions, money transfers, and payment of bills or non-cash purchases, “states the official website of IPPB.
What is a QR Card?
The QR card possess a QR code or barcode, which is used to identify or recognize the account holder. No two QR codes are identical. This QR code can be decrypted to identify IPPB account holders using a smartphone or micro-ATMs, a portable device that will soon be used by postmen.
Postal Department of India started the India Post Payments Bank and does not offer ATM or Debit cards for its three savings accounts – regular account, digital account, and basic account- besides a current account.
The Quick Response or QR card consists a QR code or barcode for identifying the cardholder. All QR codes are not the same, they are different from each other and these QR codes can be read by using a micro-ATMs or smartphone to identify or recognize the account holder.
How to use the IPPB-Quick Response card?
IPPB QR is easy to use it requires only three steps.
For a transaction you need to:
- Scan the code on the QR card
- Conform through biological verification
- Complete the transaction
How QR cards work?
GDC (Gramin Dak Sevak) or postman scans your QR card using a smartphone application or QR code reader, whether at home, at the post office, or another IPPB access point. Once your login information is verified, the postman will ensure that the account holder completes the transaction.
Point-of-sale machines or ATMs that use debit cards do so by demanding a pin from you. The transaction will be rejected if you forget your PIN. Also a risk of misuse is there.
On the other hand, QR cards are very easy to use. You do not have to remember your account number, and PIN, or password. The postman has to just scan your fingerprint, your QR code, and make you the payment. Therefore the use of IPPB QR card is safe and easy.
India Post Payments Bank (IPPB) is also trying to find ways to bring the unorganized retailers sector on board, which means you can soon pay for your food at any Kiryan store using a QR card.
Where a QR card is used?
For money withdrawal, money transfers, payment of bills, and non-cash transactions you can use a QR card. Doorstep banking services are provided by the India Post Payments Bank for Rs 25 for each cash payment. To do this two-step verification is done by the postman.
The customer is first identified by a QR code and then another verification is carried with the help of biometric data. The postman then delivers cash to the customer after the successful completion of the two-step verification process.
You can trade with the QR card by the post office, postman, or dak sevaks. Soon, you can also make payments in your Kirana store using a QR card, because IPPB wants to bring unorganized retail to it.
How money is withdrawn with a QR card?
Once the customer is identified by a QR code, the post office or bank representative will re-verify it with biological information. At the end of the two-phase confirmation process, the customer will be paid cash by the postman.
The door-to-door banking service, which would be especially useful for rural residents, costs Rs. 25 for each cash transaction.
In addition to this, you can use QR cards for cashless shopping, payment of bills, and money transfers.
QR card advantages
Anyone who has a physical copy of your ATM card and pin can withdraw money at any ATM. This is not the case with QR cards. This card does not work at all at ATMs or even at post offices or with the postman and GDS (Grameen Dak Sevaks) for any transaction through a QR card you will need biometric authentication.
Thus this method provides a good security layer for the money kept in your account. You also don’t have to bother remembering your PIN. You also do not need to remember your IPPB account number to use this QR card. So use of IPPB QR card is easy and convenient.
Safer than an ATM card!
QR cards are more secure than ATMs because they offer a better level of security (biometric data). On the other hand, ATM cards can be used by anyone who has your PIN and card. Also, customers do not have to remember PIN or IPPB bank account numbers when using a QR card.
In case the customer lost its QR card or the card has been stolen, the money in his account is safe.
A QR card is a digital format of a QR code or barcode used to identify bank account holders. QR cards will help you with an easy conversion. It allows you to perform fast money transactions, fast money transfers, payment of bills, and non-cash shopping. Thus the use of IPPB QR card is convenient way to make the transactions.
QR cards cannot be used at an ATM. You can trade with the QR card by the post office, postman, or dak sevaks. Soon, you can also make payments in your Kirana store using a QR card, because IPPB wants to bring unorganized retail to it.
For making transactions through IPPB QR card there are no additional charges. If your QR card is lost or stolen, you can contact the nearest post office branch to reapply for a duplicate QR card.
Your money is safe in case you lost your QR card or it is stolen as the transactions are biometric authenticated.