Tuesday , November 21 2017

Govt to roll out Aadhaar Pay for cashless transactions

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

Aadhaar Pay

New Delhi: The Centre will soon roll out Aadhaar Pay service that will allow people to make and receive payments using only their Aadhaar number and thumb impression, stated Electronics and IT Minister Ravi Shankar Prasad stated on Friday.

Currently the service has been launched on a trial basis by IDBI and IDFC. “We are going to start Aadhaar Pay. With this people will not require to carry their phone or debit cards for payments. People can visit any merchant, share their Aadhaar number and verify themselves using biometrics (thumb impression) to pay and receive money,” stated Mr IT Minister Ravi Shankar Prasad.

He stated that Aadhaar will be a game changer with Aadhaar Pay. “This will be available to all the persons who are having Aadhaar linked with bank accounts, whose number stands at 39 crores now from 6.7 crores in May 2014. Approximately 2 crore Aadhaar numbers are linked to bank accounts every month,” stated the IT minister.

He stated that at present 14 banks have come on board for Aadhaar Pay and the service will be launched soon. He said “We are in talks with other banks too. The Aadhaar Pay service will be launched very soon”. Several banks have already developed their application and testing it in AP State.

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