Aadhaar Pay app launched: Important Things To Know

Here's all you need to know about Aadhaar Pay payment system:

• Aadhaar Pay smartphone payment app eliminates the charges currently charged by card companies such as MasterCard and Visa.
• The app makes cashless transactions possible even for those who do not have mobile phones. However, the merchant accepting the payment has to have a mobile phone.
• The app uses biometric scans as passwords. This means that users can use their fingerprint or biometric data to validate a transaction.
• Though users don't need any password or app, it is mandatory for them to have their Aadhaar number linked to their bank account/accounts to make the payment.
• Merchants need to download the Aadhaar Pay app from Google Play store (the app is so far available only on Android phones). He also needs to install a biometric scanner and link it to the app. When a customer wants to make the payment he/she just need to enter his/her Aadhaar number in the app and select the bank from which the payment is to be made. The biometric scanner does the verification.