India’s Yes Bank Announces Iris-Based POS and ATM Solution

One of India’s biggest banks is embracing iris biometrics for Aadhaar-based transactions. Yes Bank has announced that it has partnered with Lastmile.mobi to provide such a POS solution based on Qualcomm Snapdragon processors.

The technological solution will essentially enable transactions using iris-based verification, either through a POS terminal or an ATM. It’s based on the Lastmile.mobi authentication and digital payment platform; meanwhile, the Qualcomm Snapdragon processors are used “to provision the entire POS over the air,” according to a statement from Yes Bank.

The bank says its solution complies with recent Know Your Customer regulations pertaining to Aadhaar-based biometric authentication, Aadhaar being the country’s ambitious national ID program that leverages biometrics for citizen identification. Commenting on the new solution, Qualcomm International SVP Jim Cathey suggested that it demonstrates his company’s commitment “to continue pushing the envelope on India-specific innovations and technologies, such as biometrics using Aadhaar authentication for G2C and B2C services, which foster financial inclusion.”

With other banks also starting to embrace Aadhaar-supported biometric authentication, such technology could start to really catch on in the country as the Aadhaar program continues to grow.

–

October 18, 2016 – by Alex Perala