Life @ TradeIndia Research

Saturday, 17 December 2016

Govt to Release App for Aadhaar-Linked E-Payments Soon

Government will soon launch a mobile application to facilitate Aadhaar-linked digital payments and roll out a nation-wide programme to train over 1 crore people on e-payments. 

"We are going to endorse Aadhaar-enabled payment system (AEPS) in coordination with Finance Ministry. About 40 crore bank accounts have been linked to Aadhaar,"

aadhaar card

There are biometric devices which can be connected to smartphones and convert a smartphone into a Point of Sale (PoS) machine.

The customer will not need to share bank account details as the application will detect the bank account linked to the Aadhaar number with help of Unified Payment Interface (UPI).

Government will conduct workshops to train 14 lakh Village Level Entrepreneurs (VLE) across 500 districts and 6500 blocks about carrying out digital transactions which will be attended by Members of Parliament as well.

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