FINO uses "Bandhus"/ agents to reach out to the rural and far flung areas to carry out secure financial transactions for multiple banks, state and central government social upliftment schemes and Microfinance agencies with the help of Ingenico handheld Biometric POS terminals.
Over 25,000 Ingenico’s Bio930G terminals of Ingenico have been deployed by FINO till date out of which, over 7.000 successfully deployed in the last quarter of 2010 for NREGS.
The deployment of terminals continues in 2011.
FINO relies on Ingenico’s technology for authentication and authorization of the business correspondent and the customers which represents one of the largest challenges of any financial inclusion effort.
According to Ingenico, the BIO930G wireless POS terminal provides FINO’s Bandhus/Agents the freedom to acquire process and verify biometric data on the move – and conveniently undertake secure biometric transactions wherever they are while providing the transaction report at the time of the transaction.
Designed to simplify user identification and authentication, and make it easy to integrated biometric control into a wide range of payment, government wage payments and micro credit applications, the Bio 930 family of terminals seamlessly optimize the entire biometric control process, thereby enabling FINO to deliver a large range of financial and banking services to the rural population.
FINO CEO Manish Khera said the successful deployment of over 7000 Bio930G using strategic customized biometric application for NREGS government wage disbursement in rural areas has put FINO solutions with Ingenico’s Bio930G miles ahead of the several technologies experimented in India for government social disbursements and financial inclusion programs.
