Aadhaar Pay is a payment system which allows merchants to collect payments from a customer using his Aadhaar number and biometric authentication. The Aadhaar seeded account of the customer gets debited and merchant account gets credited.
Benefits to merchants
- Seamless fund collection from customers
- Lower Transaction charges
- Safe and secure
- Instant account to account fund transfer
- Increased customer satisfaction as process saves time
- Easy reconciliation
- Eliminates cash handling cost and risk.
Transactions on Aadhaar Pay :
- Smartphone (Aadhaar Payment App) with reliable data connection or POS system enabled, Fingerprint Scanner (Biometric Device), ICICI Bank Current Account.
Benefits to customers
- No need for a smart phone to make payments
- No need to remember PIN & Passwords
- Customer ease, easiest way of cashless payment
- Pay from any Aadhaar enabled bank account
- No security issue as payments are done through biometric authentication
- No need to carry cash.
Transactions on Aadhaar Pay:
- Aadhaar number & bank account.
- Open an ICICI Bank Current Account
- Download Eazypay from Play Store
- Register by selecting Aadhaar Pay as mode of payment collection
- Start collecting payments from the customers.
- Login to Eazypay and raise an invoice by entering the amount
- Select Aadhaar Pay as mode of payment collection
- Customer to select his Aadhaar linked bank name from the list and enter his Aadhaar number
- Customer to provide biometric thumb impression on the device and select pay to accept payment.
- Applicable for over the counter payments only
- Need Biometric Scanner attached to the system
- Transaction limit is Rs. 2000 per transaction.
- Customer wishes to pay the charges through Aadhaar Pay over the counter.
- Merchant chooses Aadhaar Pay as payment collection mode and asks for the customers Aadhaar number
- Customer needs to choose Aadhaar seeded bank from the list. Then he/she needs to provide the thumb impression on the Biometric scanner. Fingerprint will work as a password for the payment
- System tallies fingerprints with the available data in Aadhaar database. If it matches, the transaction is successful.