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Sam petroda's e-purse, best innovation for developing countries

Created by : Shridhar Chandru, Business Developement Manager, ERP Consulting Company  | 09 09 2010 19:20:01 +0000
Industry : Telecom/ISPFunctional Area : New Technologies(Technology)
Keywords : icici bric developing economies sam pitroda telecom revelution e-purse
Activity:  143 views;  last activity : 09 12 2010 15:17:22 +0000

The launch of e-Purse, marks the beginning of a new era of cashless society in Oman, implemented by the Royal Oman Police (ROP) in association with the Information Technology Authority (ITA) and Bank Muscat.

During the first phase of the project, the e-Purse can be loaded with cash only at Bank Muscat branches with the Point of Sale (POS terminals) network of the Bank facilitating card-based transactions at ROP directorates, ministries and government establishments. In the second phase of the project, the e-Purse can be loaded with cash at other banks.

'With the introduction of e-Purse, the Sultanate joins a few selected countries in the world with such facility and marks a major shift in its e-Governance initiative launched on the directive of His Majesty, Sultan Qaboos, to equip the country in line with the 21st century technological advancement.' http://www.egovonline.net/news-list/34-news/7391-oman-takes-lead-as-e-purse-marks-new-era-of-cashless-society.html

  
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boon for developing economies Vs Security is main concern for middle class dominates socities
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The launch of e-Purse, marks the beginning of a new era of cashless society.BRIC countries are the ones who are surviving the recession after-effects quite comfortably. cashless transactions are definitely the buzz for tomorrow as the govts of BRIC countries are looking at internal spending to revive economy which is guaranteed by continuous inflow of forign money, as they know these are the future economies.
By Shridhar Chandru, Business Developement Manager, ERP Consulting Company  | 09 09 2010 19:20:01 +0000
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