Varam Capital Selects SayPay for Voice Biometrics

Varam Capital, a provider of micro-finance inclusion solutions, has selected SayPay as their trusted partner to deliver advanced authentication solutions to their clients. Varam supplies loans, savings and other financial services to the poor. A loan of a few thousand rupees may make a huge difference in their lives, giving them the ability to purchase livestock or equipment for a small farm, a sewing machine to make clothing, or stock for a local store.

"Customer authentication and transaction authentication happens many times during a loan cycle at Varam and with Saypay, we hope that becomes a lot easier and safer" said Latha Pandiarajan, MD of Varam.

"Varam uses the latest technology to empower the lives of its 60,000 beneficiaries," said Mr. Joby C O, CEO of Varam Capital.

"Now,all of Varam's clients can settle loans and make payments using the simplicity and security of SayPay's voice solutions. This reduces risk, improves accountability, and eliminates financial disputes from ever occurring."

Integrating SayPay's authentication solutions into the exchange process also reduces cash-based risk for Varam and provides a basis for transaction non-repudiation.

"Varam's move from cash to electronic payment processing needed a means for simple yet secure authentication," said Steve Hoffman, Founder of SayPay.

"SayPay combines ease of use on any mobile phone with the security of 'three-factor authentication'. During loan distribution and payment acceptance, Varam clients speak a one-time 'voice token' into their agent's phone as proof of loan funding and payment acceptance."

"SayPay is proud of our association with Varam Capital, who are committed to improving the lives of the poor and impoverished," Steve added.

Source : Equity Bulls

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