Corporation Bank launched a SmartCampus, a smartcard for students. Bank has tied-up with Bangalore-based technology solutions provider IDenizen Smartware Private Limited to launch SmartCampus card. The smartcard is an enabled software package for the education vertical.
IDenizen developed SmartCampus, four years back, is a student identity card which can be used as a regular ATM-cum debit card. The card has Visa-powered radio frequency identification (RFID) which will incorporate all the key activities of an educational institute - be it payment of admission fees, monitoring students’ attendance, library automation and examination results among others - onto a single platform. The card will enable the student cardholders to carry out their financial transactions across the country easily through Corporation Bank’s 1000+ branches & ATMs an over the internet. The cardholders will also be able to access 25000+ other ATMs and 12lakh + merchants across India.
At present over 60,000 students including those from Bangalore’s R V College of Engineering are using SmartCampus cards for to carry out their cashless transactions within their respective campuses. The tie-up with IDenizen, has helped the Corporation bank widen the base of Corp New Gen, the bank’s savings account specially designed for students.
“Student community has been our focus area with regard to our customer base. We are making a lot of value additions to our products to convert our student customers from indulging in cash-spending to card-spending. With SmartCampus, students also get to recharge their pre-paid mobile phones,” Corporation Bank’s general manager B R Bhat said at a press conference here on Wednesday.
Bhat informed that bank will be offering up to Rs 10 lakh educational loans for the cardholders for those studying in India and up to Rs 20 lakh for those studying abroad. As soon as the student completes his college education the SmartCampus card will be disabled immediately and it will be replaced by a credit card, Bhat added.
IDenizen’s chief operating officer Vinod P John said SmartCampus has received good response from the colleges as it as it takes campus management to a higher level. John told no investment has to be made from college’s side; the students have to pay an annual subscription fee. To own a SmartCampus card students have to pay anywhere between Rs 700 -1,000 per annum.
IDenizen’s managing director and CEO Girish Balaga said the company is working out plans to increase SmartCampus card users to 250,000 in this fiscal and one million in the next three years.
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