Visa, TSYS join forces for biometric payment solution in India

Global payment services company TSYS and Visa have teamed up to use TSYS's technology to authenticate account holders for India’s new Saral Money program, which aims to provide Aadhaar number holders with access to prepaid Visa accounts.
Saral Money works by issuing those with Aadhaar numbers a new Visa Instant Account and a prepaid card. Prior to this solution, Visa’s proof-of-identification registration policies have automatically excluded a large number of people in India from participation.
As part of this program, 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.
According to online media outlet BiometricUpdate.com, Saral Money will first be rolled out in New Delhi and the National Capital Region, and expansion for the rest of the country is set to be completed by the end of 2013.
TSYS became a Visa biometric authentication provider for the Unique Identity Authority of India’s (UIDAI) platform in 2010. According to the company, TSYS has also been instrumental in setting up the Prepaid International Forum (PIF) chapter in India. A patron of the forum since 2007, TSYS is an advocate of prepaid as an alternative payment channel for financial inclusion in India.
TSYS provides merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip and healthcare. In recent news, TSYS has completed the acquisition of US online payments services provider ProPay.
 
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