• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

HUMBL and DIPL Team Up to Provide India with Better Mobile Financial Services

March 23, 2020

HUMBL and DIPL Team Up to Provide India with Better Mobile Financial Services

The U.S. fintech company HUMBL is entering the Indian market through a strategic partnership with Digital India Payments Limited (DIPL). DIPL currently provides payment processing services at more than 30,000 locations in India, and at additional locations in Nepal, Bangladesh, the Maldives, Myanmar, and Sri Lanka.

HUMBL, meanwhile, is a mobile payments specialist. The company has developed the HUMBL Mobile App, which allows users to send money to (and receive money from) merchants and other individuals. It also maintains HUMBL Hubs, which are physical agent locations that provide customers with a variety of walk-in financial services, including currency exchanges, cash withdrawals, lending, and bill payments.

The new strategic partnership will make those services available across DIPL’s extensive network of physical locations. Customers will be able to consult with trained DIPL agents, or take advantage of HUMBL’s complementary Point-of-Sale Tablet products.

“Our younger customers don’t want to visit multiple service branches to wait in long lines, pay expensive fees and highly variable rates,” said DIPL Managing Director Hari Prasath. “HUMBL gives them mobile financial services faster, cheaper and in nearby locations.”

The two organizations are hoping that the partnership will make financial services more accessible and raise financial inclusion in the region. To that end, the HUMBL Hubs will support India’s “Smart Grid” program, which uses biometrics like face or fingerprint recognition to facilitate the distribution of financial and government services.

“The total cost of sending and exchanging money into many emerging markets still hovers around 10-20 percent, with short-term loan rates in excess of 30 percent, for people who can afford it the least,” noted HUMBL CEO Brian Foote. “HUMBL is working to cut those costs in half while getting more people into the India tax base.”

HUMBL is not the only company working to boost financial inclusion in India. Mastercard recently partnered with the Federal Bank to bring its Mastercard Identity Check platform to the country, while NEC has been working with CSC e-Governance Services India to bring financial services to people in rural areas. As of August, the Aadhaar-enabled Payment System had already been used to clear 200 million financial transactions.

Filed Under: Industry News Tagged With: Biometric, biometrics, Digital India Payments Limited, digital payments, DIPL, facial recognition, financial services, fingerprint recognition, FinTech, HUMBL, India, India Smart Grid, mobile payments

Related News & Articles

Eighth Argentinian Bank Signs On for FacePhi Biometric Authentication

App-based IAM Solutions Will Become More Common in the Workplace: Gartner

Voatz Brings Mobile Voting to Oregon and Expands to Utah’s Disabled Community

Primary Sidebar

Register For the Next Virtual Identity Summit

Register now!

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Thai Authorities Approve Mobile ID for Airport Boarding
  • New Yoti Solution Ties Biometrics to e-Signatures
  • Kenya’s New President Pushes for Digital ID By Year’s End
  • MDL, Digital ID Gain Momentum in State Efforts
  • Brazil-based Selfie Onboarding Startup Reports 250% Sales Jump, Global Expansion

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld