With the demonetisation drive by the BJP-led government last year, India has seen a major jump in the digital payment sector. Thanks to the move, most of the money being rolled around is now being accounted for and most importantly, it just got easier and smooth. However, while most people in India still rely on cash, going digital for payments is not as easy as one thinks. The need for a mode for digital payments has forced people to open bank accounts, opt for smart cards and even get on to the internet with and take help from digital payment apps to ease out the payment modes.
SCIT, or Smart Card IT Solutions, is one of India’s largest manufacturer of smart cards in India that produces around 1.2 million smart cards each day. The company caters to three verticals of smart cards in the industry — banking, telecom and government ID. With the recent spurt of demand banking cards in India, post demonetisation, the company has increased its production capacity and is expecting the rise to increase across the other two verticals too.
Deven Mehta, CMD SCIT Ltd said, “However, this could just be the beginning and going forward India will witness a massive surge in demand for smart cards across all verticals. To be ready for such demand scenarios we are undertaking quite a few initiatives.”
“SCIT aims to become the largest manufacturer of cards in Asia and in sync with this long term vision the company is determined to build a Super Factory – the best that the world has ever seen with all services, manufacturing facility showcasing area, hotel for customers, solutions department etc. We also want to get into the Financial Instant Issuance of cards whereby debit cards are issued almost instantly and thereby reduce the time required for right from applying for a card to its issuance, drastically,” he added.
As India, gears up for e-passports which are nowadays a global requirement, SCIT also seeks to get into the business through manufacture of e-passport inlays. When in talks with Deven Mehta about the existing scenario, future plans for the country and what’s in line for the year 2017, he had much to reveal.
What are the company’s existing products and services in the country?
Our products and service includes smart cards – for Banking, Telecom, Government Indentity, Loyalty Identification and Instant Issuance Solutions for all segments.
Does the company have any tie-up with banks? What are the new types of solutions being demanded by the banks in India?
SCIT is a supplier of smart cards to various banks. The tie ups are actually with switch providers such as FIS, FSS, Euronet and Transerv who largely cater to 80 per cent of Indian banks.
India has a very robust and dynamic banking system. With the rapid advancement in technology, Indian banks are always focused to incorporate new solutions which enable them to present the best offering to its consumers.
The new solutions demanded by banks are instant issuance solutions, image card – where a customer has the choice of putting his/her favourite picture (for eg. child, religious figure etc.) after a thorough screening process, on the card itself and dual Interface (Contactless and Contact) technology based cards.
Trends in the banking sector
Rupay is going to be the biggest trendmaker in the banking segment. NPCI has taken many initiatives for cashless, cardless, card and software solutions for the mass markets. Currently more than 165 million Indians are not banked. Rural Banking segment will grow at the fastest pace.
What are SCIT’s plans with the government of India? Please elaborate
SCIT is constantly a supplier and consultant to various government programs such as RSBY, Bengal Health Cards, Driving License, Vehicle Registration Cards etc. We will become an integral part to the KCC (Kissan Credit Card) by supplying more than 50 per cent of the cards as directed by our Prime Minister. We are already pitching to manufacture the 60+ (Senior Citizens) Aadhaar based smart cards.
Your take on e-passports in India
ICAO (International Civil Aviation Organisation) has put a mandate to all governing authorities of various countries by putting deadlines on migration from MRP (Machine Readable Passports) to issuances of e Passports which contain a microchip and an antenna which provides one of the highest forms of security for a document in world. This will enable Indian passport holders to walk to through e-gates and will store information of an individual’s biometrics such as finger prints and iris ensuring that the document is not replicated or misused. Further, there will be eVisas which will be stored in the microchip.
Smart cards are here to stay, at least for a while until all future smartphones will be equipped with NFC, MST technologies for payments, automation and alike. While presently Samsung, Apple and a few other smartphone manufacturers are already heading their products in the same direction, other manufacturers are yet to follow. However, with technology getting better by each passing month, smart cards will probably, still be the safest mode for payments, authentication, automation and more.
