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Card-less ATMs: SBI takes lead in cash withdrawal without cards

27 25 15

For a country not exactly known for its digital prowess, India is making pretty rapid strides in fintech with some interesting innovations. Topping the list, of course, is Aadhaar which was not just a unique database of biometrics—the largest in the world—but, because it allowed the database to be queried across space, this allowed for a variety of services from ration shop deliveries to e-signatures. Over time, as the suspicion over the use of Aadhaar grew and people feared their data could be stolen or misused, Aadhaar came up with other solutions such as Virtual ID that masked the number by allowing users to generate a random number online. Another success story is that of UPI, a mobile-based payments system created by the National Payments Corporation of India (NPCI) and which is linked directly to your bank account. UPI payments have increased rapidly, from........

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