Cashless Payment System

The recently introduced cashless economy with the cash-lite banking by the Government of India (GOI) has engineered most India banks to introduce e-payment and e-transport solutions to support the policy. However, one of the major problems limiting the growth of this new move in India is the absence of secure and reliable e-payment systems. The problems associated with the implementation of a secure e-payment systems in the country stem from card thefts, internet fraud and identify theft etc., which runs into millions of US dollars annually. This has adversely affected the integrity, development of e-commerce and the country's active participation in the international market .hence, the need for a secured and reliable mechanism for a proficient implementation of e-payment system in the country. This paper is focused on securing reliable authentication scheme for e-payment system in India through effective biometric authentication technology.