Delivering The Fundamental Tenants Of Payment System
CIO Review|December 2018
Delivering The Fundamental Tenants Of Payment System

Ramki is an entrepreneur at heart. He designed, developed and managed delivery of several scalable and distributed services and worked with various data storage engines and designed data storage tier for multiple services. Co-founded Bridal Info & Tech Sol company and later worked in Morgan Stanley as a manager.

Ramki Gaddipati

Online banking, internet-based activities have increased. It has increased in muscles and bones. It also possesses the much-needed flexibility wherein, the users make their utility payments world-wide.The fundamental requirement of any online banking application is security to protect users’ confidential data. Today’s web-based payment services always require a username and password to authenticate the user identity. This is a significant vulnerability since the password can be captured. The user authentication method used by current online payment system is not adequate and secure. Thus, it is possible for an unscrupulous user to misuse people’s details. As such, the Biometric Payment system is presumed to transform the payment industry.

Though several solutions enabling cardholder authentication using biometrics already exist, yet, a fullfledged biometric payment system is still at large absent. A full-fledged biometric payment system is a platform where a user may make a payment at merchant POS terminal using biometric authentication. Such an application if widely used and accepted in countries like India can become phenomenal.


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December 2018