With Narendra Modi's decision to put a ban on the high denominations, the digital payment sector witnessed a significant surge in its business in 2016. To make life easy in a cash crunch situation, Modi government started promoting cashless transactions, in the wake to move the country complete digital. To achieve the goal of building a cashless society, PM Modi has been prepping up to launch several applications, making online transactions a much easier process than ever before.
Not only that, one area that the online payment services have been working upon since the demonetization is the online transaction via Aadhaar card. In line with the same, recently an app called the Aadhaar payment was launched and surely gained wide popularity in an extremely short span and the Modi government believes that this application is going to turn out to be the most revolutionary online payment methods and plans.
Well, after the Aadhaar payment app, it looks like another similar service called the Aadhaar pay will be launched very soon, which is expected to help people make and receive payments using their Aadhaar cards and biometrics. Befitting the name, predictions are such that the upcoming service shall work pretty much similar to that of the Aadhaar payment application launched last year.
Yes, with the Aadhaar Pay service, people will be able to make payments via Aadhaar card and require no debit or credit card, nor their smartphone. Shoppers can simply visit the merchants and share their Aadhaar number and also verify themselves using biometrics in order to make payments.
Further reports suggest that nearly 14 banks have come on board for Aadhaar Pay and the service is expected to be launched soon. Not only that, the government is also in talks other banks to make as well.