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Aadhaar Pay for Cashless Transactions to Be Launched Soon

Business

Aadhaar Pay for Cashless Transactions to Be Launched Soon

Aadhaar Pay for Cashless Transactions to Be Launched Soon

HIGHLIGHTS
  • With Aadhaar Pay, people will not require their phone for payment
  • 14 banks have come on board for Aadhaar Pay
  • BHIM has also been integrated with Aadhaar Enabled Payment System

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

“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 on Friday.

Read also  RBI enhances ATM withdrawal limit to Rs. 4500

As of now, 14 banks have come on board for Aadhaar Pay and the service will be launched soon, Prasad 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.

original article posted on NDTV

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