NPCI working with UIDAI to offer bank transactions on mobile

May 4, 2011 at 2:45 pm | Posted in Applications, The Market | Comments Off on NPCI working with UIDAI to offer bank transactions on mobile

http://news.oneindia.in/2011/02/04/npciworking-with-uidai-to-offer-bank-transactions-onmobile-aid0126.html

NPCI working with UIDAI to offer bank transactions on mobile

Friday, February 4, 2011, 23:30 [IST]

Chennai, Feb 4 (PTI) The National Payments Corporationof India (NPCI), an entity formed by 10 banks in the country,is working with Unique Identification Authority of India(UIDAI) to help customers make basic financial transactionsusing their mobile phone.

“It may be to open an account, make a cash depositor a withdrawal… We will use the UIDAI number along with thecustomer”s thumb impression (for offering this service)”, PCIChief Operating Officer M Balakrishnan told reporters today.

The 10 banks that promote NPCI are State Bank of India,Punjab National Bank, Canara Bank, Bank of Baroda, Union bankof India, Bank of India, ICICI Bank, HDFC Bank, Citibank andHSBC.

Asked when the project would be implemented, he said, “Weare doing a pilot study in Jharkhand. Maybe after some time wewill be able to inform you”.

Besides, he said the NPCI are working on offering “chequetruncation” services to be launched in few months” time, whichwould enable paperless transaction.

Balakrishnan and senior officials were here to announcetheir association with Karur-based Lakshmi Vilas Bank to offerInterbank Mobile Payment Service for its customers.