Financial Services (105)
The Russian post office has launched a new financial product for consumers. They can get a microcredit loan (between $100-200 USD) in any post office branch simply by presenting a piece of identification.
Why it matters
Microcredit is something that has really taken off in underdeveloped countries and is usually associated with business development. Will this niche offering attract local customers considering the small amounts loaned?
İş Bank has introduced biological identity point of sale machines. İş bank credit card customers can now shop without entering their personal identification number. They simply need to touch a pos machine with their fingertip to shop easily and safely. It’s the first application of it’s kind all over the world.
The Danish bank: ‘Dankse Bank’ has created a smartphone app that allows you to pay for a bill by simply taking a photo of it.