Visa is working with several Indian banks in biometry
Visa is working with several Indian banks in order to utilise the country’s biometrics-based national identity system to bring financial services and electronic payments to millions of people. The ‘Saral Money’ account from Visa, Axis Bank, HDFC Bank, ICICI Bank, Indian Overseas Bank and the State Bank of India is designed to solve the long-standing problem of how to authenticate the many millions of Indians without existing bank accounts or adequate forms of ID. They plan to tap into the government’s Aadhaar national identity system which uses fingerprint and iris biometric information to verify users and authorise payments. There are currently 210 million Aadhaar card holders, with the government planning to expand this to 600 million by 2015.