Krishna District Collector Babu Ahmed came up with the idea of AadharPay, a simple solution to go cashless.
AadharPay is cashless payment system which needs smartphone & a biometric reader, can be used to transfer money with a thumbprint.
Using this, In rural and semi-urban areas where customers need “ assisted digital banking formats” the AadhaarPay is a perfect fit. Merchant benefits – No Merchant Discount Rate (MDR) and provide service to customers without having to pay the bank per transaction fee.
Babu said CM Chandrababu Naidu directed to implement AadhaarPay all over AP. We have done this with the assistance of IDFC bank.Expecting other banks to join soon.
Babu said Linking Aadhar with a bank account is mandatory for this transaction, along with a fingerprint sensor connected to a smartphone, which acts as a POS.The customer can simply swipe his finger by providing the Aadhar number with bank name for the transaction up to 50k.