Aadhaar Payment App Download Benefits Requirement. There are no extra points for guessing that the Aadhar card has become the most important document in the life of the average Indians. The document is not only used for seeding the various sectors, but if the latest reports are to be believed, the government is to implement a new payment mode that will be done with the help of the Aadhar card. The government launched the mobile phone application that will be linked with the Aadhar card. People will be able to make all kinds of monetary transactions with the help of the Aadhar based payment apps.
Experts are of the opinion that, this app is the best, safest and the cheapest mode of payment. As the payment mode will be linked to the unique identification pass, people from all walks of the society will be able to make use of this application. With the help of this application, more than 40 crore Indians will be able to make all kinds of monetary transactions, even if they do not have a smartphone.
Aadhar payment application: An overview
With the development of the digitization in the field monetary transactions, the market has been flooded with numerous payment applications. Some of the common payment applications, doing the rounds in the market in the recent times are SBI Pay, UPI apps, Paytm, Freecharge, mobile wallets, Phonepe and many more. What is the common aspect of all these payment apps? All these will require the use of a smartphone. So what is new about the Aadhar Payment Application? For starters, for using this application, it is not mandatory for the user to make use of the smartphone. Thus, people who do not use mobile phones will also be able to make the transactions easily.
App for the dealers
According to the expert comments of the specialists, the Aadhar Payment application has been said to be the perfect application for only the dealers. The customers, who have to make the payment, will have to do nothing. They need to relax while the dealers will require an application, fingerprint scanning gear and a smart mobile phone. The customers will be in a position to avail of the many benefits of this unique app.
Making the transaction
The next question that might be disturbing you is how will the customer make the payment without any card or ant application? Well, the answer is simple. With the help of the Aadhar Payment app, the customer will be required to provide the fingerprints only. As the biometric information, associated with the individual is stored on the Aadhar card and the card is in turn, seeded to the bank accounts, the specific money will be debited from the customer’s bank account. Thus, the customer will not have to carry any card or any payment app.
Advantages of the payment application
The following are the significant benefits of using the Aadhar Payment application:
- The customers will no longer have to worry about carrying any payment card or cash. As the app has been designed to provide respite to the customers, the app operation mechanism of the app has been made in such a manner that the customers will also not require access to their smartphones.
- Most of the monetary transactions, made by either the payment applications or by any payment card will charge a certain percentage as service tax. This is an extra charge that the person will have to shell out without any reason. With the usage of the Aadhar payment app, here is no need to pay any amount as service tax.
- With the usage of the latest Aadhar payment application, the customers will not have to bother about carrying any kinds of cards. It is time to say goodbye to the headache of carrying many cards while going on a shopping spree.
- As the only thing require to successfully completing the transaction is the fingerprint of the customer, they will be saved from the botheration and the pain of memorizing the PINs, passwords or the MPINs of the cards or the payment apps.
- If the customer is not interested in making the entire payment at the same time, then the Aadhar payment application will also provide them with the advantage of opting for the installment payment mode. The process of installment payment, via the Aadhar payment app and the other payment processes, is same.
- Last but not the least; the experts are of opinion that with the implementation of the payment application, the common people, as well as the dealers, will realize that it is the easiest and effective mode of making the transaction.
Prerequisite for this payment mode
As this app has been designed, keeping in mind the comfort of mainly the customers, they will not have to worry about carrying any gear, card or cash for making the payments. All the gear will be provided by the merchants. Thus, the requirements for making the payment via this app can be categorized into two separate sections – one for the customers and the other for the dealers.
What the customers need?
- The customers will have to make sure that they have access to the Aadhar code. It is the only thing that they need to provide for the successful transaction. They need not provide the code to the merchants. They need to memorize it and type in when asked by the dealers.
- As the customers will have to provide the dealer with their fingerprint, for authenticating the transaction process, they need to make sure that their hands are free to form any dirt or dust. It will make it easy for the scanner to read the fingerprints.
- Last but not the least; it is mandatory for the customers to seed the Aadhaar card with the bank account properly. Without proper linking of the two, the money will not be transferred from the account of the customer to the account of the merchants.
What do the dealers need?
- The shopkeeper, using the Aadhar payment application will have to make some effort for successfully completing the transaction. They need to have access to a smart mobile phone. The app needs to be installed on the mobile phone.
- For the smooth operation of the application, the merchant needs to make sure that they have access to an error free and dependable internet connection. It will make it easy to make the digital transactions easily.
- As the entire operation on cashless digital marketing, it is mandatory for the dealers or the merchants to have an operational bank account. It must also be seeded to their Aadhar code as per the rules of the government.
- Last but not the least; as the whole process will operating by reading the biometric detail of the fingerprint of the customer, the dealer will have to keep the provision of scanning the fingerprint of the customer. For this, they will need a fingerprint scanning gear.
Operating of the payment application
Now that we have given you a clear idea about the things that are required for the successful transaction of the money, from the account of the customer to the account of the dealer, it is time to discuss the process in which the payment app will function:
- The first thing that the shopkeepers, dealers or the merchants need to do is get Aadhar Payment Application installed in the smartphones. The phone can run on any OS. With it, they need to make sure that their internet data pack is switched on. You can also read Microsoft Skype Lite Supports Aadhaar and works on slow internet
- After this, the need to attach the fingerprint scanning machine connected to the smartphone. For doing this, they can make use of any USB cord. There are many fingerprint scanning machines available on the online shopping portals and their prices start from Rs. 2000.
- While making the payments, the Aadhar code will have to be typed in into the application. If the code entered is correct, then the details of all the accounts, seeded with the code will be flashed on the mobile screen.
- The customer will have to choose one account from where he/she wants to make the transaction. If the customer has only one account seeded with the Aadhar card, then no choosing option will appear.
- Once this has been done, the customer will have to provide the fingerprint for verifying the authentication of the ID. This has to be done by placing the finger on the reading screen of the scanner.
- As soon as this is done, the scanning machine will scan the fingerprint and immediately transmit the collected data to the mobile phone payment application. The verification of the data will be done by the application. It will try to match the data with the info stored on the Aadhar server.
- In case the data does not match, the transaction process will not continue. In case the data gets a green signal from the NPCI server, the process of making the transaction will continue.
- Last but not the least; the specific sum of money will be transferred from customers’ bank account to the dealers’ bank account. Aadhaar bridge payment, the NPCI and the UIDAI, all have respective parts in making the entire process a success.
Drawbacks of the payment mode
The following can be considered as the disadvantages of the Aadhar card based payment application:
- Though it has been designed for the comfort of the customers, it can be that bit difficult for the shopkeepers or the merchants. The main reason behind this is they will have to invest money for purchasing a fingerprint scanning machine. The cost ranges from 2000 rupees, but it has to be only once. The cost of the average POS machine is more that the scanning gear.
- This payment mode can only be used for the commercial purpose. In case you want to make a payment to someone, you will not be able to make use of this particular mode as individuals do not keep a fingerprint scanner with them.
- There are no extra points for guessing that the system will be a total failure in the area, which is still not under the internet coverage. The areas, which have weak signal coverage, will also not be able to give the merchants the advantage of using the app.
- If the connection that the person is using is not good and strong, then several attempts will have to be made for successfully transferring the money from one account to the other. This can be a cause of botheration for the merchants and the customers.
UPI Apps VS Aadhaar Payment Application
With the implementation of the Aadhar card based payment application, everyone is trying to understand which one is better – the UPI applications or the Aadhar Payment Application. Each of the systems will free the common people from the headache of carrying cash or card. The structure of the operation of the payment modes is also on the same lines. Both are considered to be secure modes as well. But the preference of the systems will depend on the circumstance.
The Aadhar payment application will not come in handy when you are trying to send or receive money to and from another person. For times like these, the UPI applications will be the best option. When making the payment at any commercial establishment, the Aadhar Payment app will be the best option as the shopkeepers will provide all the necessary equipment. The customers just need to provide their fingerprint and the Aadhar code.
How successful will the Aadhaar payment app be?
Any plastic currency card, like the credit or the debit cards are the primary things that come to the mind when we think of the digital or cashless transactions. The dealers used to demand about 2-3% for making the transaction via cards. Companies like Visa and MasterCard charged 2% of the total transaction sum. But with the help of the Aadhaar Payment application, the days of paying the extra charges are gone. The transactions with Aadhaar Payment application will not force the customers or the merchants to shell out anything extra. Thus, this technique is theoretically accepted to be better for merchants and customers alike.
The high placed officials commented that around 40 crore Aadhaar cards had been successfully seeded with their respective bank accounts. The government has set the target of completing the seeding of the bank accounts with the Aadhar cards of all individuals by the end of March 2017. With this feat in the bag, the government will be able to implement the Aadhar Payment Application successfully. This app will help the Indian market to take another significant step in developing the digital cashless transaction facilities for all.
How BHIM Aadhaar app works?
With the implementation of the BHIM application, the government has made it easy and less complicated for the people of the nation for making monetary transactions. According to the survey, the government has already made the Aadhar card available to 99% of the total population present in the nation. Among them, around 40 crores have already seeded their Unique Identification Code with their respective bank accounts. Thus, with the BHIM application, they will only have to provide their fingerprints and the app will detect the authentication of the person and the account details. With the assistance of this app, the need for carrying liquid cash or memorizing the PIN of the account can be done away with. Read also BHIM App Download Features Use
The operation of the BHIM application is based on the National Payments Council of India’s current service that is provided by the AePS or Aadhaar Enabled Payment System. The server is equipped to link the details of the people and their account details, on a pan-nation basis.
Who can get BHIM Aadhaar app?
For the time being, the benefits of making the monetary transactions via the BHIM application have been provided for individual merchants. All the individual and independent traders and shop owners will be able to make use of the app and get easy transaction facilities. The corporate business establishments will not be able to make use of the BHIM application for now.
Who should install Aadhar Pay app?
If you are the owner of the shop, then you will need to get the BHIM application installed. It was designed for bringing more comfort to the buyers. It is the responsibility of the owners of the trading establishment to get the app installed so that they can get scan the fingerprint of the customers and receive the transaction. All that is needed is a properly seeded bank account on both ends.
How to download BHIM Aadhar Pay app?
Downloading the BHIM application is as simple as downloading any other app from the internet. The interested merchants or the shopkeepers will require a smartphone and a reliable internet connection. Once the internet connection has been established, the shopkeeper will have to initiate a search for the app by typing ‘Aadhar Pay’ in the Google Play Store.
Once you get the application, you will have to click on the download click for staring the process of downloading the BHIM app. Once the download has been completed, the application will be installed and saved in the phone memory automatically. Then the person will only have to activate it and initiate the transaction processes.
How it work?
As it has already been mentioned, the customers need not take the pain of doing anything else other than providing their Aadhar Code. It will work as the password along with the scan of the fingerprint for authentication the transaction. The first thing that the merchants will have to do is to link the fingerprint scanner with the application. Once this is done they will have to activate the system.
While making the payment with the help of the BHIM application, the buyer will have to type in the Unique Identification Code. Once the code has been fed into the application, they will have to select the name of the bank, where they have seeded their accounts. Then the buyer will have to place the finger on the fingerprint scanner. Once the scanning is done, the app will connect the data and the person will have to make the selection of the account from he/she wants to transfer the funds. As soon as they select and authenticate the process, the specific amount will be transferred to the account of the merchants.
How will it help?
The implementation of the BHIM has been seen as a new and developed step taken towards reaching the target of the government associated with digital marketing and monetary transactions. The following are some of the important benefits that the app will serve for the merchants and the nation:
- There are no extra points for guessing that the POS machines are expensive and as they need to be sanctioned from the respective banks, the complexity of the process discourages many from opting for these. According to reports, there are only 15 lakh of these machines, operational in the market.
- The process will be good for the customers as they will not have to worry about the ID theft. They will have to use the scan of their fingerprint for authentication of the transaction. All the equipment will be provided by the shopkeepers.
- With the assistance of the BHIM application, the buyers will neither have to carry any liquid or plastic money nor will they have to carry their mobile phones. All they need to do is remember their Aadhar Code for the activation of the system.
- For every transaction that is being made by the use of plastic currency, the companies providing the services like MasterCrad and VISA will charge at least 2% to 3% of the total amount. Thus, the shopkeepers are making less profit. So, they tend to refrain from the use of digital transactions. With BHIM app, there is no need to pay anything to any party.
- As there are also the alarming issues of connectivity, most of the shopkeepers do not find it easy for opting for the digital modes of making the transactions. The banks are not being able to expedite the process of providing POS machines to almost 5 crore traders in the nation.
- With the implementation of the BHIM application, the ordinary customers will not have to worry about the theft of their confidential information. The chances of PIN and password theft will be reduced by leaps and bounces.
Apart from giving respite to the customers form the tensions of losing their confidential information, the implementation of the BHIM application will also give them freedom from the hassles of carrying cash or credit/debit cards. They will neither have to possess the phone or the app at the time of making the transaction, while making the monetary transactions. With the use of this service, the buyers will be able to say goodbye to the troubles of memorizing the passwords MPINs and PINs. If you are making a purchase that requires a big amount then the app will also provide the advantage of making the payments in easy installments.
Which banks support the app?
For providing the advantage of this application to the maximum number of people of the nation, the government has expanded the base by including almost all the banks under the system. The following are the names of the banks which are already operating under the service:
- Allahabad Bank
- Axis Bank
- Andhra Bank
- Bank of Baroda
- Canara Bank
- Bank of India
- Central Bank of India
- Corporation Bank
- City Union Bank
- Dena Bank
- HDFC Bank
- Federal Bank (ONUS)
- ICICI Bank
- IDFC Bank
- Indian Bank
- IndusInd Bank
- Oriental Bank of Commerce
- Indian Overseas Bank
- Punjab National Bank
- State Bank of India
- Punjab & Sind Bank
- South Indian Bank
- UCO Bank
- Syndicate Bank
- Union Bank of India
- Vijaya Bank
- United Bank of India
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