Visa, TSYS Partner For Biometrics-Based Payments In India
TSYS and Visa have partnered to launch a biometric payment solution launched in India. The Saral Money program provides Indian consumers with access to financial services and electronic payments for the first time by linking Visa accounts to Indian Unique Identification Accounts.
TSYS's technology is used to authenticate account holders by transporting biometric information, such as fingerprints, from the point of sale to the Unique Identification Authority of India (UIDAI). Once the account holder is authenticated using biometric information, the transaction information such as amount of the purchase and merchant type is then submitted to Visa's network for processing.
"TSYS is proud to support Visa and the Saral Money program in India to enable broader access to financial services for Indian consumers," said Amit Sethi, managing director, India and Southeast Asia, TSYS. "This initiative is a perfect example of TSYS's recently reaffirmed commitment to people-centeredpayments."