Govt to roll out Aadhaar Pay for cashless transactions

Aadhaar Pay service will enable people to make and receive payments using their Aadhaar number and biometrics

PTI January 27, 2017 15:43:12 IST
Govt to roll out Aadhaar Pay for cashless transactions

New Delhi: Government will soon roll out Aadhaar Pay service that will enable people to make and receive payments using their Aadhaar number and biometrics.

Govt to roll out Aadhaar Pay for cashless transactions

Representative image. Reuters

"We are going to start Aadhaar Pay. With this people will not require to carry their phone for payments. They can visit any merchant, share their Aadhaar number and verify themselves using biometrics to pay and receive money," Electronics and IT Minister Ravi Shankar Prasad said today.

As of now, 14 banks have come on board for Aadhaar Pay and the service will be launched soon, Prasad said told reporters. "We are in talks with other banks too. The service will be launched very soon," he informed.

Further, the Minister said, Bharat Interface for Money (BHIM), the common platform for making quick payments using the Unified Payments Interface (UPI), has also been integrated with Aadhaar Enabled Payment System on Thursday.

Around 111 crore people in the country have Aadhaar numbers.

"There are 49 crore bank accounts linked to Aadhaar. Every month 2 crore accounts are being seeded with Aadhaar," Prasad said.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Tokenisation of card payments can simplify and secure financial transactions, services for merchants, consumers
Business

Tokenisation of card payments can simplify and secure financial transactions, services for merchants, consumers

Tokenisation is a process aimed at increasing the security and safety of payment systems by replacing the card details with a unique alternate payment ID or code termed as a ‘token'.

Digital transactions should not be treated as short term substitute for cash, says PM Modi
News & Analysis

Digital transactions should not be treated as short term substitute for cash, says PM Modi

On the eve of the expiry of the deadline to deposit demonetised currency in banks, Prime Minister Narendra Modi urged citizens not to regard digital transactions as a short-term substitute for cash payments.

GST rollout on 1 July: With no trial run of software, govt now shouldn't be afraid of failures
Business

GST rollout on 1 July: With no trial run of software, govt now shouldn't be afraid of failures

The government has been in a tearing hurry to rollout GST on 1 July as if to keep its tryst with destiny