Evolute FinTech Innovations’ Post

Upgrade your Aadhaar L0 devices to L1 devices by September 30, 2024. In a significant move towards strengthening the security framework of the Aadhaar authentication ecosystem, the Unique Identification Authority of India (UIDAI) has mandated the upgrade from L0 to L1-compliant fingerprint devices. This transition is crucial for ensuring secure, efficient, and tamper-proof biometric authentication processes.    All your Aadhaar L0 devices will cease to function from October 1, 2024. But you don’t have to worry about the upgrade, as we have got you covered.   Being a pioneer in the fintech industry, Evolute Fintech has developed robust Aadhaar L1 devices and has started offering them to its customers after thorough testing.   Watch this video to learn more and reach out to us to upgrade to Aadhaar L1 devices: https://lnkd.in/guKnGWHR #Aadhaar #AadhaarL0 #UIDAI #Fintech #Deadline #Sunset #EvoluteFintech #TechPoweringTheWorld

Innovation in Payment Security: The Case for Biometric Authentication on Cards As technology advances, so does the card issuing industry's responsibility to embrace innovative security measures. One promising development is the integration of biometric sensors on payment cards, a leap forward in preventing fraud and enhancing user experience. I want to spotlight the potential of Tactile Guidance Markers (Patent Pending) which, when paired with biometric sensors, can significantly reduce the incidence of poor fingerprint positioning – a common issue with biometric authentication. These markers are not just a design feature; they serve as an intuitive guide for the cardholder, ensuring their fingerprint is accurately read every time. This seamless interaction not only speeds up transactions but also fortifies the card's defences, making it a formidable foe against unauthorised use. It’s high time the industry considered such integrations as standard practice. We have the technology to make payment transactions both secure and user-friendly. Let's make the commitment to utilise it to its fullest potential. What are your thoughts on incorporating biometric sensors with Tactile Guidance Markers into our everyday payment cards? #BiometricSecurity #PaymentInnovation #SecurePayments #Fintech #DigitalBanking #TechTrends #FutureOfPayments

In today's digital landscape, securing transactions is crucial. Biometrics, which analyses unique physical and behavioural traits like fingerprints, facial recognition, and voice, offers a robust solution. This technology enhances security and convenience in digital payments, replacing traditional passwords and PINs. The global biometrics market, valued at approximately USD 36.6 billion in 2020, is projected to reach USD 68.6 billion by 2025, growing at a CAGR of 13.4%. This growth underscores the increasing adoption of biometric authentication in digital payments, driven by the need for enhanced security and user experience. How can you learn more about Biometric based secured digital payments. 💻 Visit https://lnkd.in/gk_WZeJn 📩 If you want to schedule an offline/In person customized training for your company/College/NGO reach out to us at [email protected] 🔗 Schedule a meeting from this link https://lnkd.in/g8jwgDc3 Piyush Singh Swati Bhalla #globalfintechacademy #Inclusivefintechhub #fintech #buildandgrow #innovation #digitalinclusion #innovation #financialinclusion #BiometricPayment

Fingerprints supports Valid in roll out of biometric payment cards in Brazil. Fingerprint Cards AB (Fingerprints) and Valid, the global payment technology provider and integrator of secure solutions for identification, mobile and payment ecosystems, have partnered in developing a biometric payment card for the Brazilian market. The card, which features Fingerprints’ proven biometric technology, will offer new levels of contactless security, convenience and hygiene. The cards, manufactured by Valid, will feature Fingerprints’ second-generation T-Shape® (T2) sensor module and software platform. The biometric payment card will be unveiled at Sao Paulo’s Febraban Tech event in June 2024. Despite consistent and significant contactless payment growth in Brazil since the pandemic, there are still consumer concerns around security. Source: https://lnkd.in/eGBjQiQe Sign up for more news updates like this in our daily newsletter: https://lnkd.in/eskQx7Ym #fintech #fintechnews #payments #digitalpayments #bankingtechnology #financialtechnology #financialservices #financialsolutions

🚀 Innovation in Digital Payments! 🚀 The National Payments Corporation of India (NPCI) is in discussion with startups to bring biometric authentication to UPI payments. Soon, users will authenticate transactions using fingerprints on Android or face ID on iPhones, making payments more secure and convenient. This move comes in response to the Reserve Bank of India's concerns over UPI scams related to PIN frauds. While NPCI is still finalizing a technology partner, the rollout is expected within a few months after technology service provider is finalized. Initially, both PIN and biometric methods will be available. This innovative step will enhance the security of India's most popular digital payment method, which handles over 14 billion transactions monthly. Exciting times ahead for the digital payments landscape! Source: https://lnkd.in/g8wdWXSY #Innovation #DigitalPayments #FinTech #UPI #Biometrics #NPCI #Security #TechInnovation #FutureOfPayments

🔒 Discover how biometric authentication is revolutionizing secure payments! Learn more about using fingerprints, facial features, and iris patterns to ensure safe transactions. Click the link https://lnkd.in/ghxdSnU3 to read the full article. #BiometricSecurity #SecurePayments #DigitalPayments #QRPayments #Debia

𝗕𝗶𝗼𝗺𝗲𝘁𝗿𝗶𝗰 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗖𝗮𝗿𝗱𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 𝗗𝘆𝗻𝗮𝗺𝗶𝗰𝘀 𝗮𝗻𝗱 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲 𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲: https://lnkd.in/eKt-EKH3 As the world shifts towards a cashless economy, 𝗕𝗶𝗼𝗺𝗲𝘁𝗿𝗶𝗰 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗖𝗮𝗿𝗱𝘀 𝗠𝗮𝗿𝗸𝗲𝘁 are revolutionizing the way we make transactions. With fingerprint recognition embedded into cards, this technology promises unparalleled security and convenience. Let's dive into the key highlights shaping the future of biometric payments: 𝗞𝗲𝘆 𝗗𝗿𝗶𝘃𝗲𝗿𝘀: 𝗥𝗶𝘀𝗶𝗻𝗴 𝗦𝗲𝗰𝘂𝗿𝗶𝘁𝘆 𝗖𝗼𝗻𝗰𝗲𝗿𝗻𝘀: Growing fraud in card transactions has driven the need for enhanced security solutions. 𝗖𝗼𝗻𝘀𝘂𝗺𝗲𝗿 𝗣𝗿𝗲𝗳𝗲𝗿𝗲𝗻𝗰𝗲: A seamless blend of convenience and security is boosting the adoption of biometric cards globally. 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀: Major financial institutions are partnering with tech companies to roll out biometric cards as a response to the growing threat of data breaches. 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝗶𝗰𝗮𝗹 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗺𝗲𝗻𝘁𝘀: 𝗙𝗶𝗻𝗴𝗲𝗿𝗽𝗿𝗶𝗻𝘁 𝗦𝗲𝗻𝘀𝗼𝗿𝘀: Integrating cutting-edge fingerprint sensors into payment cards offers fast and secure authentication. 𝗖𝗼𝗻𝘁𝗮𝗰𝘁𝗹𝗲𝘀𝘀 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀: Enhanced contactless capabilities ensure faster checkout experiences while maintaining high-level security. 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀: 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮: Leading the charge with early adoption and significant investments in security technology. 𝗘𝘂𝗿𝗼𝗽𝗲: Strong regulatory framework and consumer awareness are driving the market. 𝗔𝘀𝗶𝗮-𝗣𝗮𝗰𝗶𝗳𝗶𝗰: Rapid growth in digital payments and tech-savvy consumers are fueling market expansion. 𝗔𝗰𝗰𝗲𝘀𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://lnkd.in/eUqXx_Pp Various market players operating in the biometric payment cards industry include bio-idz, BNP Paribas, Goldpac Fintech, IDEX Biometrics, Infineon Technologies, Mastercard, Apple, Thales Investments Group, Visa, Zwipe. 𝗙𝘂𝘁𝘂𝗿𝗲 𝗢𝘂𝘁𝗹𝗼𝗼𝗸: As biometric payment cards gain traction, we can expect continued innovation in both security and usability, making our transactions not just easier but also more secure than ever. #Fintech #Biometrics #DigitalPayments #SecurePayments #FutureOfPayments #InnovationInFinance

Biometric UPI Authentication Coming.. The National Payments Corporation Of India (NPCI) is exploring partnerships with startups to introduce biometric authentication for UPI transactions. Currently, UPI uses a personal identification number (PIN) as the second-factor authentication for mobile payments, akin to OTP for card payments. Biometric integration would allow consumers to use their fingerprint on Android devices and Face ID on iPhones instead of entering a PIN. Currently, UPI’s primary authentication is device binding via SMS during the UPI enrollment process. Recently, the regulator released a framework for alternative payment authentication, favoring behavioral risk patterns and biometrics over OTP for card transactions. NPCI is still negotiating financial and legal terms with potential partners, and the rollout is expected to take more than three months once a technology provider is selected. Initially, both PIN and biometric authentication are likely to be available. UPI, launched in 2016, dominates digital payments in India, handling 80% of online transactions and facilitating over 14 billion transactions monthly worth over Rs 20 lakh crore. #fintalks #npci #upi #biometrics #digitalpayments #fintech #techinnovation #paymentsecurity #mobilepayments #futureofpayments #authentication #faceid #fingerprint #runic24cafe #paymentrevolution #regulatoryframework #cardtransactions #epay #mazharPasha #syndicatecapital #atw #r24tokens #behaviouralrisk #securetransactions #startupcollaboration #techpartnerships #digitalwallets #paymentmethods #transactionsecurity #fintechtrends