World-leading biometrics company, Fingerprint Cards AB (Fingerprints™) and Transcorp, a 27-year-old Reserve Bank of India regulated Prepaid Instruments license holder, collaborate to bring cutting edge biometric technology to India.
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The collaboration will be targeting 940 million active cardholders in India. Transcorp has pioneered and democratized co-branded cards in India for fintech’s and has a varied and broad portfolio of B2B partners. The contactless biometric cards to be launched will feature Fingerprints’ T-Shape module®, which is tailored to be integrated in biometric payment cards using standard automated manufacturing processes.
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“We are pleased to collaborate with Transcorp, to bring state-of-the-art contactless biometric cards to Transcorp’s customers. This collaboration will bring consumers in India a more secure, fast, and convenient payment experience. We see huge potential in India and the APAC region since contactless payment transactions have been increasing year on year”, says Michel Roig, President of Payments & Access at Fingerprints.
Ayan Agarwal, who heads the PPI Business at Transcorp added “In the spirit of financial innovation and payments security, we are thrilled to collaborate to launch India’s first contactless biometric authenticated card! This will further expand offerings to over one million Transcorp customers. Delivering this project required the approvals of many entities, which Transcorp was able to secure in record time. This reinforces continuous successful efforts to enable Transcorp’s fintech partners to achieve their desired milestones by aligning stakeholder deliverables.”
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