The government launched on Tuesday an Aadhaar card-linked payments system that will allow customers to ditch their debit and credit cards and pay using fingerprints.
Aadhaar Pay, a new Android-based smartphone app, will also eliminate the fee charged by private card companies such as MasterCard and Visa. The app is available on Google Play Store.
Merchants must download the app on smartphones connected to a biometric reader. A customer has to enter her Aadhaar number in the app and select a bank for payment. Biometric scans are used as passwords.
This is the government’s latest move to encourage people to go cashless. The app was first announced by finance minister Arun Jaitley in his budget speech in February. The government targets 25 billion digital transactions on various new payments platforms in 2017-18.
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