Visa, TSYS Partner For Biometrics-Based Payments In India

Series_TSYS
What's Next In Payments®
4:04 PM EDT January 15th, 2013

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.”

Read the full story.

Topics:
Comments
Also by This Author
What's Hot
News
Meritus Releases Update XP In Global Payment Platform
B2B Payments
UK Businesses Forced To Make Late Payments
News
Twitter Enthusiastic But Vague About Commerce
News
Amex Gains From Travel Joint Venture
View All Articles ››
You May Also Like
Company Spotlight
BJ’s Wholesale Club Latest Retailer To Move To MasterCard, Embrace EMV
Company Spotlight
Why Small FIs Rule
Company Spotlight
Who’s The Most Digital Payments Ready?
Company Spotlight
The MasterPass Master Plan
View All Articles ››