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Aadhaar Pay
Aadhaar Pay is a payment system which allows merchants to collect payments from a customer using his Aadhaar number and biometric authentication. The Aadhaar seeded account of the customer gets debited and merchant account gets credited.
Features of Aadhaar Pay
- Inter-operable
- Instant transfer, 24X7 availability
- No peripherals required for customers to make payments like cards and smart phone
- Secure and safe as it is based on biometric authentication.
Benefits to merchants
- Seamless fund collection from customers
- Lower Transaction charges
- Safe and secure
- Instant account to account fund transfer
- Increased customer satisfaction as process saves time
- Easy reconciliation
- Eliminates cash handling cost and risk.
Transactions on Aadhaar Pay :
- Smartphone (Aadhaar Payment App) with reliable data connection or POS system enabled, Fingerprint Scanner (Biometric Device), ICICI Bank Current Account.
Benefits to customers
- No need for a smart phone to make payments
- No need to remember PIN & Passwords
- Customer ease, easiest way of cashless payment
- Pay from any Aadhaar enabled bank account
- No security issue as payments are done through biometric authentication
- No need to carry cash.
Transactions on Aadhaar Pay:
- Aadhaar number & bank account.
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