Fintech startup Simpal developing payments device with iris recognition

Leveraging the Unified Payments Interface (UPI) platform, Fintech startup Simpal Mobile Payments and Information Services is developing a payment device that uses iris recognition, according to a report by The Economic Times. Simpal, founded by former merchant banker Vineet Toshniwal, is leveraging both UPI — launched last week by the National Payments Corporation of India — and Unique Identification Authority of India (Aadhaar). The startup has developed OctoPOS, an Android device that combines the capabilities of a smartphone and a