The National Payments Corporation of India is planning to introduce an iris-based authentication system.A pilot project is expected to be launched next year between March and May, reported the Economic Times.NCPI is in talks with banks, including large public and private lenders, to bring them under the network.”It is the next-generation authentication technology which can make the transaction processes simpler and faster without compromising on security,” AP Hota, Managing Director & CEO at National Payments Corporation of India, told the newspaper.”NPCI is fully committed to participate in the innovation,” he said.Aadhaar cards already store iris data, which will be matched at the time of payment confirmation, when the mechanism becomes fully operational.In January, former Unique Identification Authority of India chief Nandan Nilekani has said budget smartphones using iris scanners could become an important authentication tool for the biometric Aadhar unique id project he masterminded.