Aadhar Merchant Payment System
Features & Facilities
- The App will validate the AADHAAR Number and finger print from the UIDAI server before initiating the transaction
- Biometric authentication used in this app is highly secure.
- Sale amount will be transferred from the buyer’s account to the seller’s account instantly.
- A confirmation regarding the transaction will be received in the buyer’s and seller’s mobile phones.
Advantages
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For Customers
- No need of Credit/Debit Cards, Digital Wallets, Mobile Banking.
- Need only to remember his AADHAAR number to carry out the payment.
- Highly secured as the validation is done by way of biometric authentication.
- Log of all transactions can be had from Bank Account passbook/Mobile Passbook.
- Digital proof for payment. For Sellers
- If the merchant owns an Android mobile with the required specifications, the same mobile can be used to port the application
- A onetime investment to be made for procuring biometric devices. No initial deposits or monthly rent.
- Zero MDR (Merchant discount rate). Full sale amount is transferred to merchant account without deducting any commission.
- Real time credit will be effected. Full sale amount will be credited to the merchant’s account in real time. He can immediately withdraw or make use of this amount.
Requirements
- Should have an android smartphone with data connection
- Should have an STQC certified biometric device to capture finger print
- Should have an Aadhaar linked Bank Account
- Should execute an agreement with Bank
Rates & Others
- Click HERE for more details about interest rates& Service charges.
- For more quries please contact to your nearest branch
