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Aadhar Merchant Payment System

The Aadhaar Merchant Payment Systemis designed to simplify payments for small businesses, shops, and service providers, while offering customers a biometric-based payment solution. It allows users to make cashless payments by simply authenticating transactions with their fingerprints or iris scans, which are linked to their Aadhaar number, making it highly secure and easy to use.

Merchants can integrate the Aadhaar Payment Bridge System (APBS) or Aadhaar Enabled Payment System (AEPS) into their existing payment infrastructure, allowing them to accept payments from Aadhaar-linked bank accounts. This feature provides an additional layer of security and convenience for both customers and merchants.

Overview

  • 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

    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

Others

  • Click HERE for more details about interest rates& Service charges.
  • For more quries please contact to your nearest branch
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