Today I am here with a topic which is going to be a part of our day to day life in upcoming future (Digital Transaction: Aadhaar-enabled merchant payment system). After this demonetization took place & PM MODI started the cashless India & digital India campaign the entire scenario has changed. As we all know that UIDAI (Unique Identification Authority of India) is a central government agency who is handling & managing all the process related to aadhaar card. This aadhaar-enabled merchant payment system will also be taken care by UIDAI.
Under this cashless campaign, the government has launched Aadhaar payment application to facilitate the public which is managed & handled by UIDAI. Initially this application will be available in smartphones/android phones for the trial & Aruna Sundararajan, (Secretary to Ministry of Electronics and Information Technology of the Government of India) also said in an interview with economic times that later on government will avail this facility to non-smartphone users as well & we will also continue to simplify the technology further for the citizens who neither have phones nor cards. The government is also planning to tie-up with some mobile companies to inbuilt some features for such transactions.
The purpose of launching this app:
- To promote cashless transaction in India
- To avoid plastic cards & (pos) point of sales machines
- To reduce fee payment charged by card companies like master & VISA cards
How to use Aadhaar application:
- Go to Google PLAY STORE
- Search for the Aadhaar payment system application
- Chose only that link which is provided by the UIDAI(that would be trustworthy)
- Download & install the application in your phone & sign up
- Open the application, feed your aadhaar card number & connect with your bank details & proceed with the required fill-ups & submit it
- After completing all the process you will be asked for the biometric scanning, so for this, you need to have a biometric (fingerprint) scanner or if you have fingerprint feature in your phone inbuilt that will also do.
- After this entire process, all the details will get verified by the UIDAI & your transaction process will be successfully done.
*But while doing this entire process you need to remember few things if you are a payment receiver or a merchant you need to have a current account & that account has to be linked with your aadhaar card & if you are a payee then you don’t need to worry about all this.
Advantages of this Aadhaar Application:
- It will make the transaction faster
- No pin no OTP(one time password) required
- It will make you free from carrying plastic cards
- It will save you from fake notes & black money
- It will also affect the terrorist activities due to the reduction of fake notes & black money
- Low payment charges
My words on this:
According to me, this is a revolutionary step taken by the government of India & it is going to change the statistics of the Indian economy so at the end I would like to say that we should get together & support our government for this revolutionary step.