Payment Method Emerging in Rural Areas
It is an Aadhaar Payment App which offers charge less transactions all over India. IDFC, New Delhi launches it for the first time. It is a Bio-Metric based payment mode and it can be easily handled by the rural people for better benefits.
Things you must know:
- No need of Credit/ Debit cards
It is a simple mobile app which enables easy transactions by just downloading the app and making payment through our Aadhaar number which has already been linked to more than one bank account. So, no need of carrying credit/ Debit cards. Remembering Aadhaar number is same as our mobile number.
- Using Fingerprint as password
It is a first Bio-metric based money payment method enabling Fingerprint as our password. It is easy for rural people to use this app for transactions. Finger print varies from person to person,so security and privacy problems may not occur.
- Credit card/Debit card charges eliminated.
Unlike other payment methods Paytm, Freecharge, UPI will charge 2-3% charges for each transactions. Card companies like mastercard and visa also used to charge 2% of the amount. This app enables no charges for transaction it may be a great advantage while doing bulk payments.
- One click to download the app:
This app is easily available in Google play store so a person needs to download the app and link it with fingerprint to proceed for the transactions.
- Needs Finger print scanner :
This app needs finger print scanner for password purpose and in can be done by connecting to usb cable or getting scanner from store. It is available from Rs.2000. It is a onetime investment to avoid card charges.
- Good Internet connection
Since this app works on internet, better transaction need better network.
- Fund Transfers
There is no proper advancement in Fund transfer. So this app can be used only for transactions limit of Rs.10, 000.
The Government officials said that almost 40 crore Aadhaar numbers have already linked to bank accounts. Their aim is to link all the Aadhaar number by March, 2017. Through this technology, India will see a tremendous boom towards a cashless economy.