Aadhar payment app to be launched to ease digital transactions
New Delhi,Dec24: The government is all set to come up with a new digital app which is likely to silence the critics on the shortfalls of digital payments. The new application will do away with plastic cards and point of sale machines, believed to be an essential step towards attainment of a cashless society.
The application is to be launched on December 25 and will eliminate fee payments for service providers attached with companies such as Mastercard or Visa, believed to be a hindrance for merchants switching to digital payments.
The App can be used by:
Merchants need to download the Aadhaar cashless merchant app on their smartphones connected to a biometric reader, which is currently available for Rs 2,000. The customer will then feed his or her Aadhar number into the app, select the bank through which the transaction will take place, and the biometric scan will work as a password for the transaction to be authenticated.
The government, along with the regulator and payments companies, is working to ensure that the objective of making digital payments a reality across the country.