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A comment on ‘Big Brother’ in India Requires Fingerprint Scans for Food, Phones and Finances. Parent comment

Re:‘Big Brother’ in India Requires Fingerprint Scans for Foo... by iguy on Saturday April 07, 2018 @06:52PM (#16783496)
OK, thanks!

Sounds like a massive business opportunity for banking. Your village may not have an ATM but I bet it has cellphone signal. Wasn't every Kenyan SMS-ing money around a decade ago?

[ Parent | on HN ]
Re:‘Big Brother’ in India Requires Fingerprint Scans for Foo... by captn3m0 on Saturday April 07, 2018 @07:12PM (#16783595)
We're trying this with "Payment Banks". The DBT scheme itself tries to solve it by directly debiting money from your account and crediting it to the shopkeeper's account on a monthly basis automatically, but the real implementation is still cash withdrawls as of now.

The Kenyan-SMS has also led to a monopoly of mpesa in the market, which the RBI is trying to avoid by bringing some decent regulations in the space of digital banking.

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Re:‘Big Brother’ in India Requires Fingerprint Scans for Foo... by iguy on Saturday April 07, 2018 @07:27PM (#16783662)
OK thanks. So maybe it will get there... with some elephant-sized teething difficulties!
[ Parent | on HN ]