• 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

Jumio next-generation of digital ID verification.
  • 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 NewsTagged 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

Idaptive Brings Passwordless Authentication to Next-Gen Access

BioID Offers Android Version of Facial Recognition System, Plus Source Code for Devs

SC’s McLeod Health Turns to Nuance Surgical Documentation Solution Ahead of Post-COVID Surge

Primary Sidebar

Aware ABIS webinar

Read the Latest Year in Review Analysis:

IDEMIA big box

Tweets

Aware ABIS webinar

Sponsored Links

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/
FacePhi Selphi

Recent Posts

  • Transmit Security Introduces Fully Passwordless Authentication Solution
  • Bot Attacks On the Rise in New Cybercrime Report
  • UBio-X MPass Uses Facial Recognition and License Plate Reading to Secure Motorcycles
  • FPC’s New Side-Mounted Sensor Appears in Trio of New Xiaomi Phones
  • Ivanti Uncovers Risky Password Behavior Amongst Remote Workers
FacePhi Selphi

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives

Follow Us

Copyright © 2021 MobileIDWorld