Visa has teamed up with biometrics provider TECH5 to focus on the development of digital government ecosystems internationally.
Both companies will work towards a roadmap setting out a number of initiatives and projects that establish a robust foundation for advancing digital payments.
Shahebaz Khan, Senior Vice President, Head of Commercial and Money Movement Solutions, Visa CEMEA, commented: “We are thrilled to embark on this strategic collaboration with TECH5. Our joint efforts will concentrate on enhancing digital government ecosystems worldwide, with a special focus on advancing digital payments and digital identity management services.
“We are committed to digital and financial inclusion, and we believe that this partnership will allow us to implement digital ID-based payment infrastructure and services on a national level, thereby unlocking significant market potential.”
TECH5 will leverage its software infrastructure for contactless biometric capture and matching to be integrated into Visa’s payment services, as well as other value-added components for the implementation of e-commerce marketplaces.
Machiel van der Harst, TECH5’s Co-Founder and CEO, added: “We are looking forward to this strategic collaboration with Visa, learning from their invaluable expertise and market knowledge, and jointly developing the next-generation digital identity solutions powered by SSI-based Digital Identity Wallets, with a specific focus on government payment digitization.
“The TECH5 team is delighted to bring to this partnership deep understanding and implementation expertise of Foundational ID projects at a national level, as well as technology components and infrastructure that support biometric matching, digital ID and identity wallet solutions for frictionless and secure payments.”
