The result of a joint initiative of city-based IDenizen Smartware and public sector Corporation Bank, students can now get a VISA Card which would be an integration of RFID campus card and a debit card. The strategic tie-up can drastically reduce paperwork in colleges and help students with an integrated instrument that could be used as an ID card to handle all their study-related transactions.
According to IDenizen Founder-CEO Girish Baliga, 'the first ever' tie-up between educational ERP solution and a bank would bring modern banking to students' financial processes.
Speaking to reporters here today, he said, ''This instrument envisage cash-less transactions within the campus, easing the lives of both parents and students.
''An added benefit is they can use these cards outside the campus that brings a host of value-added facilities.''
Those with a student account in Corporation Bank could get the card for a subscription starting at Rs 500 per annum. The facility had been successfully tested in about 60 engineering colleges, reaching 60,000 students in Karnataka, Andhra Pradesh and Gujarat. IDenzen and Corporation Bank, through this partnership,are targeting one million student-users in the next three years.
Mr B R Bhat, Corporation Bank General Manager(Resource Mobilisation), said the bank decided to go in for this tie-up as SmartCard was a better way of value-addition and its usage suited the tech-savvy Indian student.
''For us, students are a preferred customer. India has one of the largest student population in the world and this is a sure way to achieve good business for Corporation Bank,'' he said.
''This card becomes disabled once the student completes his course.
''Soon after, Corporation Bank would issue a credit card that could be used till the student gets a job,'' he added.