You don’t even have to carry your debit card/credit card or have to remember any passwords. Just your fingerprint is all you need to make the transaction. Currently, there are not many users who are using the new app right now. Therefore, this article will let you know the Aadhaar Payment App in detail. It might clear a lot of questions related to this government’s initiative.
Q1) What Is Aadhar Payment App? It is an application introduced by the Indian government to ease down the digital transaction process in India. It is also oriented towards making the online transactions safe and secure. The app is developed by IDFC Bank in collaboration with Unique Identification Authority Of India (UIDAI) and National Payments Corporation Of India (NPCI). Q2) How does the Aadhaar Payment app work? The Aadhaar Payment app is oriented towards merchants and customers. For Merchants A particular merchant has to register for IDFC Aadhaar Pay. The merchant’s mobile phone is linked to an STQC certified Aadhaar biometric reader. After this, the merchant becomes an IDFC Aadhaar Pay Merchant point. For Customers For using it, the customers need to link their Aadhaar number to the bank account and mobile number. For authenticating the transaction, the user needs just the fingerprint impression.
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Q3) How To Become an Aadhaar Pay Merchant? For becoming an authorized Aadhaar Pay Merchant, an individual need to contact IDFC Bank. The individual needs to contact IDFC Bank Business Correspondent point or by contacting Banker on Call (18004198332/ [email protected]).
IDFC Aadhaar Pay will be available on a merchant’s smartphone, who will be onboard with IDFC Banking using e-KYC, within an hour. After that, an SMS link will follow to enable the merchant to download the app. Q4) Who Can Become an Aadhaar Pay Merchant? Anyone who runs their own business with a PAN, TIN number can become an Aadhaar Pay Merchant. From a Kirana store owner to Panchayat offices, anyone is liable to become Aadhar Pay Merchant. Q5) How To Receive Payment Using Aadhaar Payment App? Q6) How Can Merchant See The Transaction Details? On the app, there is a section where last 10 successful transactions are displayed with today’s total sale amount. Q7) Is There Any Fees Involvement For The Merchant? No, using the Aadhaar Payment App is free. Unlike PoS where the merchant pays merchant discount rate (MDR). Q8) What Things Are Required To Pay By Aadhaar Payment App? Customers only need Aadhaar Card number linked to their bank account. For merchants, they require a smartphone with Aadhaar Payment App, active internet connection, and a biometric scanner. If your phone has fingerprint scanner then you don’t need additional biometric scanner. Q9) What Are The Limitations Of Aadhaar Payment App?
According to officials, 40 crore Aadhaar numbers have been already linked to bank accounts. The aim of government is to link all bank accounts with Aadhaar by March 2017. Let’s see how the new apps take on the already existing players of mobile wallets.
