Aadhaar Pay - Electronic Gurudev

An Aadhaar-enabled payment system will be launched soon, finance minister Arun Jaitley announced in his Budget speech for the financial year (FY) 2017-18. Aadhar Pay is the merchant version of Aadhaar-enabled payment system. The Aadhaar Pay app lets consumers pay without any physical payment instrument. It runs on the Android platform and has to be installed by merchants. To use it, merchants need to first download the Aadhaar Pay app and then register to start using it. After registration, the merchant’s mobile phone needs to be linked to an Aadhaar biometric reader. Once the merchant has this infrastructure in place, the consumers can start transacting. To make a payment, the consumer has to just enter her Aadhaar number. The fingerprint is the password for the transaction. To use...

The Union budget 2017-2018 put the focus firmly on the idea of Digital India with the government announcing more steps for increasing digital payments in the country, along with a boost to the optical fibre network in rural areas to improve internet connectivity and access. Here’s a look at the top Digital India-related announcements from the Budget 2017-2018. Aadhaar Pay Aadhaar Pay, which is a merchant version of Aadhaar Enabled Payment System (AEPS), will be launched shortly. According to the Finance Minister, “This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones.” The government has set a target of 2,500 crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards. Additionally the govern...

Tag: Aadhaar Pay

Aadhaar-enabled payment system will be cheaper than cards

Announcements for Aadhaar-Pay, BharatNet and other Digital India Initiatives in Union Budget 2017