Visa, TSYS Partner For Biometrics-Based Payments In India

Series_TSYS
What's Next In Payments®
4:04 PM EST 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
Merchant Innovation
“Shazam for Fashion” Launches Stylist App
News
Samsung’s Double-Barrel Galaxy S6 Launch
News
Consumers Go Mobile For Smart-Device Research
Merchant Innovation
Will Half Of All Americans Be Amazon Prime Customers By 2020
View All Articles ››
You May Also Like
Company Spotlight
Inside MasterCard’s Masters Of Code Global Hackathons: Round 1
Company Spotlight
How MasterCard Is Taking Biometrics To The Masses
Company Spotlight
MasterCard Powers Fintech Startups With Commerce.Innovated
Company Spotlight
Does The Weather Drive Omnichannel Adoption?
View All Articles ››