Banks Must Upgrade PoS Devices As 2G Is Phased Out
Banks need to upgrade their Point of Sale (PoS) devices to run on 3G and 4G in the backdrop of the impending phase-out of 2G technology to which they are mated now, a senior telecom department official said.
“The PoS the banking sector uses is right now 2G-enabled. In a couple of years, there will be no 2G in the country. [There will only be] 3G and 4G and beyond. Are we getting the PoS ready for the 2G moving out?,” Joint Secretary Amit Yadav said.
Unless such upgrade happens, banks would face challenges. “I think we need to see to it that [more advanced] technology is there,” the official said, inaugurating the 5G Use Cases Lab for the Banking and Financial Sector, set up at the Institute for Development and Research in Banking Technology (IDRBT). Stating that 5G had arrived, Mr. Yadav said it was time for all those concerned to discuss the areas where the technology could be applied once it is rolled out in the country by developing use cases.
The infrastructure in the country had also improved, Mr. Yadav said, adding that in three years, the number of mobile towers had increased from less than two lakh to five lakh, while the Base Tower Stations (BTS) numbers had gone up from 5-6 lakh to over 20 lakh. The number of mobile phone users is 1.2 billion, he said.
IDRBT Director A.S. Ramasastri said: “The time is right to start working on 5G so that India is a thought leader in this new technology, rather than being a follower as in the case of some earlier technologies.”
The objectives of 5G Lab include developing and demonstrating 5G use cases for banking and financial services, setting up a 5G R&D experience platform, and provide state-of-the-art experimental test bed solutions for mobile, wireless technologies, IoT and security services for BFSI.―The Hindu
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