Yes Bank in India has released a Point-of-sale device for small companies which can authenticate customers using their iris and the country's unique ID, or Aadhaar system.The iris-recognition enabled POS can assist businesses in Card & UPI payments, Aadhaar E-KYC and Aadhaar E-signing on a ready-to-use basis.”The solution brings banking to a customer's doorstep and also empowers MSMEs to perform an entire gamut of financial transactions”, said Ritesh Pai, Senior President & Country Head, Digital Banking,” Yes bank.”This device equipped with biometric authentication capabilities has multiple uses for both retail and corporate customers right from e-KYC verification and ATM functionalities to disbursal of small loans to merchants,” he added.The device supports cash deposits and withdrawals via business correspondents, purchase transactions through cards, fund transfer, E-KYC verification for account opening, E-sign of account opening forms and balance enquiry.The terminal solution – IRIS EMV PoS – is in line with the Digital India initiatives of the government.”We are committed to continue pushing the envelope on India-specific innovations and technologies, such as biometrics using Aadhaar authentication for G2C and B2C services, which foster financial inclusion,” said Jim Cathey, Senior Vice President and President, Asia Pacific and India, Qualcomm International. “Support for local language and other technologies focused on India will help bring next-generation, cost-effective solutions to Indian customers in all tiers.”The solution uses Qualcomm Snapdragon processors.
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