Government Plans for Aadhar Enabled Payment System Instead of Debit/Credit Cards

aadhaar
Image Source:NDTV Gadgets360.com

The Unique Identification Authority of India has planned to enhance fingerprint verification potential through Aadhaar to 40 crore a day from 10 crore to motivate more use of online transaction for making a cashless community.

The government is simultaneously focusing on creating an easy and a user friendly mobile app that can be used by store owners and suppliers for receiving Aadhaar-enabled expenses by providing credit and atm card, pin and security password.

Through this cellular application, the device will be used for authenticating biometrics of customers making Aadhaar as a mandatory deal.

UIDAI will progressively improve its fingerprint verification ability to 40 crore authentications, UIDAI Chief Official Ajay Bhushan Pandey told journalists here.

He further said on Thursday, “We will make people aware about this method of dealings. We will progressively make its potential for 40 crore authentications.

Last night, 1.31 crore Aadhaar-enabled fingerprint authentications were revealed. We will boost it progressively.”

He described that these fingerprint authentications include the attendance put by workers of government property.

The effort can help the government deal with situations like recent demonetisation and control black money nuisance while getting more financial transparency.

The 12-digit number has already been released to 1.08 crore individuals and 99 % of adults have been protected.

People can link their Aadhaar with their financial accounts and use Aadhaar Enabled Payment System (AEPS) for funds transfer, balance enquiry, cash deposits and inter-banking dealings.

The fingerprint verification potential of AEPS is 10 crore, which will be progressively brought up to 40 crore, the CEO said.

AEPS allows users to make expenses to suppliers or store owners without credit score or an atm card using their Aadhaar variety and fingerprint verification.

They just need to quote Aadhaar and verify it through biometrics. The funds are directly moved from the customer’s savings account to the merchant’s.

Members of 118 public and private banks can use AEPS at present.

NITI Aayog CEO Amitabh Kant said the govt is focusing on incentivising cashless dealings and disincentivising cash dealings.

“We are asking cellular producers to see if all cell phones made in Indian should be in-built with iris or thumbs identification program to help Aadhaar-enabled dealings,” Kant said.

Kant is part of the chief ministers panel that will lay out a road map for execution of electronic expenses over the next one year. The first conference is planned Thursday.

IT Secretary Aruna Sundarajan said the ministry has kept aside Rs 100 crore to incentivise enrolment of suppliers on to the digital program to help force the drive.

“IT department is providing motivation of Rs 100 for every vendor registered through over two lakh typical service centers across India. The ministry will perform a major outreach interaction strategy starting from Monday,” she said.

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