Visa for payment solution using UIDAI platform for Aadhaar holders

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.