BIG NEWS.. 3-in-1 Aadhar card = smartphone+ debit card+credit card

New Delhi:  Technology creates an amazing world.  Payments without cash, without smartphones, without debit cards, without credit cards, without e-wallets. This is soon going to be reality in the country. Technology has helped PM Narendra Modi to realise his dreams of a less cash society without causing pain to the people.

Paying for your clothes, groceries, etc., using your finger is  what Modi government has planned for you.  The Unique Identification Authority of India (UIDAI) will roll out Aaadhar-enabled payment system, Aadhar Pay, for merchants in the next few weeks. This app will allow merchants to receive payments through biometric authentication of the customer. For this the bank accounts must be  linked to the Aadhaar number.

Encouraging results have seen in the  pilot project being implemented in fair price shops in Andhra Pradesh where shop owners are accepting payments from PDS beneficiaries via fingerprints.

The idea came from the existing Aadhaar-enabled payment system (AEPS) used by bank business correspondents (BCs) in rural areas to distribute and accept cash, using micro ATMs. The biggest advantage of this is that a customer will not need a credit or debit card, or even a smartphone to go cashless. (News24Bureau)