Tapits Technologies: Innovating the Way of Payment Options through Biometrics

 In the ever-evolving payments industry, advancements made in the name of added convenience and consumer preferences typically call for new and improved security measures.  Unfortunately, the enhancements in cyber security and fraud prevention typically mean less convenience for consumers making payments and the businesses accepting them.  Now, there’s an authentication technology that’s transforming the way payments are processed and improving security at the same time.  Biometrics are changing the game.

Leveraging this upcoming technology, Tapits Technologies has come up with an innovative and disruptive point-of-sale (POS) device, Flngpay, which allows you to make payments card-less, cashless and mobile-less.

Tapits is the first company to enable IRIS based biometric payments. Last year, Tapits successfully completed a pilot with ICICI Bank at the experience center where employees did payments authentication using Iris. Now it has been launched for all clients of Tapits and is running successfully.

The Leading Force

Pratyush Halen, CEO of Tapits Technologies, has a Bachelor’s in Computer Science. He started his career with Amdocs as a software designer. At Amdocs his team won the Amdocs Innovation Contest for developing a USSD based solutions for the rural sectors in India. This win fueled his desire to start his own venture and work in the direction of servicing the rural sector of India. In April of 2016, along with Anuraag Agarwal, he co-founded Tapits Technologies Pvt Ltd, a biometric based payments application.

Challenges Faced and Opportunities Gained

The Indian government is increasing their efforts to push Digital economy and transactions. The spillover from their campaigns has increased the awareness for allied products. Over 1.12 Billion Indians hold an Aadhaar card and more than 600 Million have linked their bank accounts with Aadhaar. These developments have put Tapits, through its brand Fingpay, in a favorable position to scale up the operations in the rural markets.

Future Endeavors

At Tapits, they are venturing into creating an end-to-end unique solution for BFSI companies based on Blockchain and Artificial Intelligence technology, which will solve the payment and collection difficulties in an efficient and a cost effective manner benefitting the companies as well their customers.


Read More: https://www.insightssuccess.in/tapits-technologies-innovating-way-payment-options-biometrics/


Source: https://www.insightssuccess.in/


#BusinessEMagazine #BusinessMagazineIndia #TopBusinessMagazine #emagazineforEntrepreneurs #Businessblog #BusinessblogIndia #trendingblog  #TapitsTechnologies #Biometrics #PratyushHalen

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