PAYTM KA ATM

We all know that Paytm is coming up in to a Banking System

Paytm Payments Bank is going to have a million points from where cash can be withdrawn. The entire banking system, all the bank branches and ATMs cumulatively, currently offers only a third of that. Sharma’s bank will basically turn any merchant and corner store into a cash withdrawal point called ‘Paytm ka ATM’.

But the system of withdrawing the money is completely different from other Banking systems….. So, How the Authentication will work....... Let’s wait and see……….

It will be a combination of several things. It will utilize the Aadhaar backbone, which means the devices with merchants could be equipped with fingerprint or iris scanners, or both.

Paytm Payments Bank is going to authenticate transactions using voice as a unique biometric signature. In effect, this means you can walk into any establishment that is a ‘Paytm ka ATM’ and ask for money. And when it asks for authentication, the customer will get a call on their phone, and they just have to say a pre-set pass phrase, like “My name is Arjun.”

“Your voice is as unique a signature as iris or fingerprints,” says Sharma, adding that the technology works even if you have a cough or cold. It works in any language.

So, finally will people like to habituate to this kind of system or not is a million dollar question…… Let’s wait and see…….

Thanks for the sourcing copy from alphaideas.