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Merchants To Go Cashless Using Aadhaar Payment App

The government after launching Unified Payment Interface (UPI) which lets the users send and receive payment using Virtual Payment Address (VPA), has recently introduced Aadhaar Payment app, specifically for the merchants. Aadhaar Payment app is launched in association with IDFC Bank, and hence is also known as IDFC Aadhaar Pay.
Aadhaar Payment App uses the Aadhaar Enabled Payment System (AEPS) for funds transfer and has, in fact, eliminated the Point-of-Sale (PoS) machines and even the credit/debit cards, passwords, and PINs. The customer only has to give his/her Aadhaar number to pay the vendor.
Both the merchants and the customers have to link their Aadhaar card with their bank accounts to send and receive funds using any mobile payment app. For private banks like HDFC and ICICI, you can link the Aadhaar card either online through net banking or by calling the banks customer care number.

How does Aadhaar Payment App work for the merchants

In addition to Aadhaar Payment app, the vendors also need to have a biometric machine to be used as the fingerprint scanner which can be purchased online or in stores for INR 2000 . It is connected to the smartphone with a USB cable. Below are the steps to install the app:
  1. Download the Aadhaar Payment app from Google Playstore
  2. Accept the terms and conditions
  3. Enter the details of the biometric reader in the app
  4. Enter your bank account details where you want the customer payment to be credited
  5. To accept payments, you will need to enter the Aadhaar card number of the customer and the payable amount
  6. Ask the customer the bank through which he wants to make the payment
  7. Use the Biometric reader to scan the fingerprints of the customer
  8. The scan works as a password and authenticates the transaction
  9. The amount is then credited to your bank account

Difference between Aadhaar Pay and other payment apps

Currently, to make and accept payments one needs his/her smartphone and the app through which the transaction is to be initiated. However, with Aadhaar Payment app which is based Aadhaar Enabled Payment System (AEPS), the need for smartphones is eliminated.
The customer need not even install Aadhaar Pay on his/her phone to pay the vendor. He/she only needs to remember the Aadhaar card number and use his/her fingerprint for cashless payments.
Further, through other mobile payment apps person to person transactions can be initiated easily. However, Aadhaar Payment App is primarily for merchants and person to person transactions are not possible, as the transactions need a biometric reader.
Hence, it is evident that Aadhaar Payment App is taking the digital payment system a level up in the process of making not just the merchants but the entire the Indian economy go cashless.
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