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Old Operations UIDAI to rollout Aadhaar enabled payment system on 25 December

UIDAI to rollout Aadhaar enabled payment system on 25 December

The government has been working on an ‘Aadhaar Payment App‘ to do away with plastic card and point of sales machines (POS) that seem to have done little in times of demonetisation.


cobrapost - December 24, 2016

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The government has been working on an ‘Aadhaar Payment App‘ to do away with plastic card and point of sales machines (POS) that seem to have done little in times of demonetisation. According to a report from the Economic Times, the new app will be launched on 25 December keeping in mind a faster adoption of a cashless society and to eradicate fee payments charged by card companies, making it an affordable digital payment solution for merchants in rural areas.

The new app will eradicate the need for payment machines for cashless transactions where all a merchant would need is an Android smartphone to run a cashless business.

All the customer needs to do is feed in his or her Aadhaar number into the app and select the bank for the transaction. The customer can then use the scanner to identify the customer and authenticate the transaction. Indeed this eliminates the need for One Time Passwords (OTPs), PINs  and much more that are a common requirement for plastic or digital transaction these days.

The app has been developed by IDFC Bank along with UIDAI and National Payments Corporation of India and will be available for download nationwide on Sunday.

Watch here,

(Sourced from agencies, feature image courtesy:readepaper.in)

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Tags : aadhaar UIDAI


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