Aadhaar Payment App, Aadhaar Payment App How To Use, Aadhaar Payment App Register For Merchant, Aadhaar Payment App Register For User, Aadhar Card Payment app, Aadhar Payment app download. The new payment system aims to simplify payments process, Another move to realize our Honorable PM Narendra Modi’s dream for Digital India, and move India towards a cashless economy, the government has been working to make payments process easier for everyone. The government recently launched Unified Payments Interface (UPI), which allows users to send and receive money by simply using a Virtual Payment Address (VPA). Now, the government has launched the ‘Aadhaar Payment app‘ to further ease the payments process.
How To Use or Register for Aadhaar Payment App For Merchant:-
1) First of all, Download Aadhaar Payment App From Here
2) Log in/Sign up with your Aadhaar Card Number (For Merchants).
3) Validate your Aadhaar Number using your fingerprint by biometric scan.
4) To accept payment from consumer, click on Aadhaar Pay.
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5) Enter customers Aadhaar Card Number, Bank Name and Amount which you want to received.
6) Click on Yes to proceed your payment.
7) Validate the transaction using customer fingerprint by biometric scan.
8) After successful transaction, The amount will be transferred from customers bank to merchant bank account.
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How To Register For Aadhaar Payment App For Users:-
1) Firstly of all, Download Aadhaar Payment App From Here.
2) Enter your Aadhaar Card Number (For Users).
3) Select your bank linked with your Aadhar Card, which you want to transactions should be done.
4) Finally scan your finger on biometric. Your fingerprint will work also as your password.
What is Aadhaar Payment App:-
The Aadhaar Payment App uses Aadhaar Enabled Payment System (AEPS) for payments. This payment system will also help to do away with the point of sales machines (POS) and plastic money (credit / debit cards), PINs and passwords. The app has been developed by IDFC Bank along with National Payments Corporation of India (NCPI) and UIDAI. A new wave of Digital Revolution has started in India. It’s time to know about Aadhaar Enabled Payment System for easy banking transactions.
How to prepare for Aadhaar payment:-
To be able to make payments via AEPS, customers and merchants need to link their Aadhaar card with their bank accounts. In case of private banks such as ICICI and HDFC among others, you can either call up the customer care and provide them with your Aadhaar card number of updation, or can be done using internet banking too. Once your Aadhaar card is linked with all your bank accounts, you’re good to go.
As per recent numbers released by the government, nearly 40 crore Aadhaar numbers have already been linked with bank accounts, and by March 2017, the government aims to link all Aadhaar numbers with bank accounts.
How Aadhaar Payment App is different from other payment solutions:-
Currently, if you want to make digital payments, you need a smartphone and some app like Paytm, Freecharge, or UPI enabled app among others. But, AEPS will completely eliminate the need of having a smartphone to make payments. AEPS is basically aimed at merchants, which will enable them to accept cashless transactions.
Government has ensured that Aadhaar card has a wider reach, not only in metro cities, but also in rural areas and villages. Now, when we talk about villages, not everyone uses a smartphone, and so apps like Paytm or UPI are out of question. But this is when Aadhaar payment system will enable them to make cashless payment, even without having a smartphone using Aadhar Payment App.
Aadhaar Payment solution – Requirements and working:-
Merchants need an Android smartphone, the ‘Aadhaar Pay’ app and a biometric reader, which can be purchased for Rs 2,000. After downloading the app on their smartphones, merchants need to enter their Aadhaar card number, select the bank and validate their fingerprint. When accepting payments from customer, merchants need to enter customer’s Aadhaar card number and bank name, followed by amount.
The payment takes place after the biometric scan, which also works as a password. Once the authorization is successful, the payment will be transferred from customer’s bank account to merchant’s bank account, it is that simple with the help of Aadhar card Payment App
Benefits of Aadhaar payments App For Merchant/Users:-
For instance, you can enter your Aadhaar number and scan your fingerprint on the PoS machine in banks for making cash deposits, withdrawals, checking mini statement, account balance and more.
You can also transfer funds to your family or friends account using AEPS. On the PoS machine, enter your Aadhaar number and scan your fingerprint, enter the recipient’s aadhaar card number followed by amount and validate the transaction with your fingerprint.
The money will be transferred from your account to the recipient’s account. As the aadhaar payment bridge uses Immediate Payment Service (IMPS) service, the funds are transferred instantly, and it works 24 hours a day, seven days a week.
About Aadhar Payment App:-
The Aadhaar Payment app aims to eliminate the fee payments for service providers like card companies such as Mastercard or Visa, which has been a stumbling block in merchants switching to digital payments making it affordable to even merchants in remote villages, said people familiar with the development, Aadhar Payment App download. However, the primary part of the Aadhaar Payment app is the merchant app. And the interesting bit of the entire merchant version of the Aadhaar Payment app is that it does not require the consumer to install that app in their phone’s to successfully make payments, like how you need it right now in case of mobile wallets like Paytm, Mobikwik, Freecharge etc wallets like wise.
As per the reports, around 15 lakh terminals are currently setup across nation for use of new UIDAI based payment solution. State Bank of India (SBI) has alone installed over 3 lakh terminals at various identified locations. List if followed by other big names like HDFC and ICICI Banks. If Government wants to promote the use of digital cash then it is the right time and correct platform where they need to put in all their efforts. Aadhar payment app apk download. We are expecting to see huge increase in number of payment terminals set across country. Increase in point of sale terminals will surely help the Government to realize their dreams of making country a better place in terms of digital cash/transactions.
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