Aadhaar Payment App – The Next big thing in Indian Payments`

Aadhaar payment app has gained mass importance over a very short period of time. India has surely seen digitization in brighter light in the past few months. With the Minister of State for Finance, Santosh Kumar Gangwar’s statement, “As per reports received from public sector banks, Regional Rural Banks and 13 private sector banks, there are 110.03 crore individual, operative savings bank accounts (including Pradhan Mantri Jan Dhan Yojana accounts) with Aadhaar number seeded in 52.95 crore accounts,” said in a written reply in the Lok Sabha, there seems to be a hopeful intent for a digitally empowered Indian mass. “Banks are committed to seeding savings bank accounts with the account holder’s Aadhaar number, based on his consent,” he added.

With a massive number such as 52.95 crore savings accounts being linked to Aadhaar numbers, the growing need for faster online transactions via mobile applications is on the rise too. Aadhaar linking has taken place in large number of private sector, public sector and regional rural banks giving impetus to mobile app developers in India to find a new source of joy in development. There are currently numerous Aadhaar payment apps available on Google play store. We have also come up with PaySKP, an innovative Aadhaar based payment app that works on mobile as well as web versions.

In a few simple and easy to follow steps you can ensure a hassle free Aadhaar merchant pay.

  1. Download the app on your mobile device.
  2. Whether you are a merchant or a general user login with your Aadhaar number.
  3. Authenticate yourself with your biometric details.
  4. Start accepting/sending payments.

Aadhaar merchant payment apps are faster in operation as they carry out instant bank to bank transactions without any third party enablement.

Now you can simply enjoy as a merchant or a customer if you have a smartphone and the mobile app (Aadhaar based payment mobile application). Having yoru Aadhaar would mean your fingerprints will be authenticated and money paid from your Aadhaar linked account. There are great benefits of an Adhaar Payment app:

  1. No service tax or extra charges (as required in UPI apps, SBI Pay, Paytm, Phonepe, Freecharge, mobile wallets etc).
  2. No need to require remembering of passwords, PINs, etc.
  3. No burden of carrying debit or credit cards.
  4. Easier and Faster payment mode for merchants and users.

Aadhaar payment apps are regarded as the next big (read best!) thing India can look forward to enabling across expanded frontiers. Master cards and Visa charges that amounted to 2 to 3% of the amount can go for a toss with the Aadhaar apps charging nothing extra from its users. March, 2017 has been set as a target by Indian government to link all bank accounts with Aadhaar. Indian seems to be all set to become a powerful cashless economy, positioned for a potential boom in the global threshold.

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