Aadhaar payment app will launched tomorrow (25/12/2016).

Happy Christmas my dear friends.

AADHAR payment app - why it is important?

1) Simplified app.
2) No need for password.
3) No fear for password stolen.
4) bio metric authentication.
5) also used for all type of payment.
6) no need for POS, credit or debit cards,

What is drew backs?

Not released yet but I got some points from several articles.

1) only Android
2) merchant side, bio metric device needed.
3) no clear cut idea for wallet use.
4) internet connection must.
5) Aadhaar based system how it will identify company, partnership, where will the amount credit.

How it will work?

I have no idea about consumer side, they just provide it is like a M -Wallet.

In merchant side.

1)Just buy one biometric device from market its cost around 2000 Rs and this device will link with your aadhaar payment app.

2) bio metric will scan and show the bank account details. We can choose one for payment.

I am also eagerly waiting for that. I explain tomorrow with full article regarding this.

How bank worked for digitalisation?

(Note: 109 cr out of 120 cr registered with Aadhaar.)

1) 2014 govt announced for bank account for all through Jan dhan account.

2) Aadhaar linking is must for subsidy of gas cylinder.

3) e-kyc account opening.(e KYC success - govt uses biometric device)

4) Insurance for all PMJJBY, PMSBY.

5) pension account ( APY).

6) AADHAAR should be linked with your bank account.(40 cr aadhaar No seeded by banks)

7) demonitisation.

8) cashless transaction.

People's sensitive area is MONEY and it will interlinked with bank. The step from 2014 Aug 15 from now - the steps for digitalisation is very clear.