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Application of RFID Technology in Banking Sector

Application of RFID Technology in Banking Sector
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Author(s): Lotfollah Forozandeh Dehkordi (Payame Noor University, Iran), Ali Ghorbani (Payame Noor University, Iran)and Ali Reza Aliahmadi (University of Science & Technology, Iran)
Copyright: 2013
Pages: 16
Source title: Supply Chain Management: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-4666-2625-6.ch043

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Abstract

Nowadays, the banks are using new technologies to provide better services to customers. One of these new technologies is RFID. In this chapter first a brief introduction presented about RFID technology and its components. Then, some applications of RFID in banking sector such as RFID applications in the cheques between banks, reducing the manual operation, customer relationship management, tracking and tracing, money transferring system, countering counterfeiting, contactless smart cards, people identification, phone banking, establishing security, checking purpose and so on are explained. Finally some of the barriers to technology acceptance by the customers and some methods to data protection and increasing security in RFID systems are described.

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