MasterCard Worldwide has developed a biometric-based payment solution using India’s Aadhar ID number.
The solution will enable Aadhaar holders to perform payment transactions using UID numbers with biometric authentication.
According to MasterCard, the solution is based on the Unique Identification Authority of India (UIDAI) platform and MasterCard’s payment network and family of brands. The solution will promote financial inclusion by enabling Aadhaar account holders to move away from cash and towards electronic transactions.
The technology supports prepaid, debit and credit payment products. It will enable participating banks to issue a 16-digit Primary Account Number (PAN) to individuals enrolled into Aadhaar. “MasterCard has developed a direct interface with Aadhaar to perform UID biometric authentication of such payment transactions,” says the company. “With this solution, payment transactions will be performed using the Aadhaar authentication infrastructure and MasterCard’s authorization, clearing and settlement infrastructure.”
For the proof-of-concept, MasterCard has integrated and collaborated with ElectraCard Services (ECS) and Integra Micro Systems (Integra) for front-end processing and terminal deployment respectively. Today’s demonstration will showcase a working model of this integration that brings advantages of scale, flexibility and innovation.