Federal Bank has tied up with Chillar Payment Solutions Pvt. Ltd. to promote the start-up’s technology product ‘Campus Wallet’. This is a student Identity Card integrated with banking technology and the Chillar Payment Solutions Pvt. Ltd. is a technology driven startup company.
The Campus Wallet is a futuristic ID card that facilitates students to make petty payments within their school/college campus without opening a bank account with an aim to streamlining and easing the administrative tasks. These cards can be used through debit/credit or net banking by using Federal Bank’s payment gateway.
With help of these cards students can make payments in stores, canteen, library etc within the respective campuses by flashing the Campus Wallet cards at the special swiping machines installed at these locations. These cards can prevail the students from over spending because students can use these campus wallet only in their respective campus. Apart from this the usage report and alert message will be send to their parents with the specific usage details.
The company Chillar Payment Solutions Pvt. Ltd. has also provided a free app for parents with multiple features of these Campus wallet card like card recharge, spending pattern tracking, e-diary, leave application, liaison with teachers etc
Extra Info :
Federal Bank Headquarter : Kochi
CEO : Shyam Srinivasan
Dy General Manager : Mohan K
So lets discuss some questions related to this post which can be asked in the upcoming exams:
1. Name the bank which has launched the Campus Wallet for students ?
2. Federal Bank has tied up with which company for Campus Wallet ?
3. Where is the headquarter of the Federal Bank ?
Courtesy : Business Standard