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"Users would be able to make purchases with their Aadhar numbers and fingerprint/iris authentication"
After the government announced the demonetisation of Rs 500 and Rs 1,000 notes, the idea of a cashless economy doesn't seem so far fetched. We already have several digital wallets operating in India, and now, the government is gearing up to make Aadhar-based financial transactions from your smartphone a reality.
The government has already started efforts to implement the technology, which will take a while, given that it needs to be implemented at both the consumer and merchant level. The Indian government wants to incentivise digital transactions in the country, and has even removed the additional charges on such payments until December 30th. Speaking on the matter, Ajay Pandey, the director general of UIDAI said:
"Aadhaar-enabled transactions are card-less and pin-less. This would enable Android phones users to digitally transact using their Aadhaar number and fingerprint/iris authentication."
A point worth noting here is that not everyone in the country has a mobile phone with a fingerprint scanner, let alone a smartphone. That aside, the government is also working on a common mobile phone app that can be used by shopkeepers and merchants for receiving Aadhar-enabled payments.
So far, about 108 crore people in the country have been issued their unique 12-digit Aadhar numbers. Users can link their Aadhar numbers with their bank accounts to use Aadhar-enabled Payment Systems (AEPS) as well. So what is your take on the move? Does your phone have a fingerprint scanner? Do let us know in the comments below.
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