Mumbai: Global electronic payments
technology company Visa today said it has developed a payment
solution using the Unique Identification Authority of India
(UIDAI) platform to provide a payment infrastructure for
Aadhaar holders.
The solution is designed to provide a payment
infrastructure for Aadhaar holders, especially the un-banked
and under-banked Aadhaar holders, a press release issued here
stated.
Aadhaar is a 12-digit unique number that the UIDAI will
issue to all residents living in the country.
UIDAI plans to issue Aadhaar numbers to 600-million
residents over the next four years, with a 100 -million
expected to be enrolled in the first year.
As part of the proposed solution, once an individual
enrolls into Aadhaar, the partner bank can issue a Visa
payment card (linked to his/her Aadhaar biometric
authentication). Visa is enhancing its systems to handle
biometric data along with payment data and integrate with
Aadhaar for authentication purposes, the release said.
Visa is working with TSYS, a leading global technology
company as the biometric authentication technology partner,
for the UIDAI project.
"Many Indians have little or no access to the banking
system in India. Now they will be able to benefit from all the
security, reliability and convenience that a Visa payments
card has to offer. This is a ground-breaking initiative and a
great example of a public-private partnership in action. I am
delighted Visa is part of such an important project in India,"
Visa Group Executive Elizabeth Buse said.
-PTI
