wordpress blog stats
Connect with us

Hi, what are you looking for?

India Post plans to equip postmen with PoS machines: report

India Post is reportedly planning to equip postmen with point of sale (PoS) machines that will allow postal recipients to pay for parcels with a debit or credit card. The Financial Express reported that the push comes as a part of the India Post's ambitions of becoming a key player in the digital banking space. According to the report the project is expected to be rolled out within a matter of weeks. The suggested timeline to have postmen carry PoS machines would coincide with the suggested final rollout of the India Post Payments Bank (IPPB) with the setting up of 650 branches by the end of April 2018. IPPB is currently only accessible at two branches in Raipur and Ranchi. Debit cards in India Although the government's drive to get people to open bank accounts in rural India has led to the growth debit card holders, the lack of infrastructure has limited use of these cards. According to numbers shared by the Finance Ministry in the Parliament, 235.6 million RuPay debit cards have been issued to Jan Dhan Account holders as of 28 February 2018. As of January 2018, the number of debit cards held in India stands at 846.7 million, with 4.23 million new cardholders being added in the first month of the new year. POS machines FE reports that the local arm of French payments company Lyra Networks India has been given the mandate to develop and connect the network of machines. The report speculates that anywhere between…

Please subscribe/login to read the full story.
Written By

Writes about consumer technology, social media, digital services and tech policy. Is a gadget freak, gamer and Star Wars nerd.

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ