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MasterCard develops payment solution for UID

Press Trust of India  |  New Delhi 

Worldwide, a global payments company, today said it has developed a payment solution for 'Aadhaar', the (UID) number.

The solution will enable holders to perform payment transactions using UID numbers with biometric authentication, Worldwide said in a statement.

The solution is based on the Authority of India (UIDAI) platform and Master Card's payment network and family of brands. The solution will empower account holders to move away from cash and towards electronic transactions, it said.

is proud to collaborate with the UIDAI in enabling financial inclusion for a significant portion of the Indian population by facilitating payments, it said.

is a 12-digit number (UID) that captures basic demographic and biometric information of citizens, which in turn will make them establish their identity with financial institutions thereby providing them a gateway into the formal banking system.

MasterCard has developed a direct interface with to perform UID of such payment transactions.

With this solution, payment transactions will be performed using the Aadhaar authentication infrastructure and MasterCard's authorisation, clearing and settlement infrastructure, it said.

First Published: Tue, December 07 2010. 19:11 IST