The demonetization effect now seems to be fading. Queues before ATM have been shortened lately. People are getting used to the online payment method. This is, indeed, good news. Well, we do have better news for you.
Imagine a scenario where you buy goods and make the payment just by punching your Aadhaar card, using your fingerprint for identification and security, and the amount is paid. This will not need any smartphone, no card, or nothing. Sounds like a dream!!! Well, the use of Aadhaar card for payment is on the verge of becoming a reality.
To help make this come true, IDFC Bank has launched biometric readers at outlets to make transactions through Aadhaar card. Moreover, this may not have any gateway charges associated with it. As the payment is done via Aadhaar network, there is no extra charge associated with the transaction.
For making an online transaction, an extra gateways charge was the chief reason why people used to not prefer it.
During a discussion with financial technology committee and representatives of government, an effort was made to discover a practical option, and they conversed about how to make online transaction cost-free and course them via the Aadhaar database.
Well, it seems that PM Modi’s dream of making the nation a digital country is on the way. Seeing the efforts that are been taken, it is clear that the country will rise from the ashes like a phoenix and shine all over the globe. Let us hope for the same.