Aadhaar Payment System: Aadhar card has become a document which is required everywhere. Especially in banking and similar things, it has been made mandatory to link Aadhar card. Among many things, Aadhar card is also asked for KYC. In such a situation, do you know that you can make payment through Aadhar card also, still many people are not aware of this. You can do digital transactions using Aadhaar authentication. Let us know how people get this facility.
What is this payment system?
You can not only withdraw money through Aadhar card, but you can also transfer money to others through it. This system has been prepared through NPCI. This payment is done through Aadhaar Enabled Payment System (AEPS). If your bank account is linked with Aadhar card then you can use this facility. AEPS is a bank based model, which allows financial transactions through Business Correspondent or Bank Mitra of any bank.
This is how the system works
This payment system is quite secure, because it does not require any bank details. In this you need Aadhar card and bank account linked to it. Apart from this, your mobile number should also be linked to Aadhaar. This payment system also works like UPI. With the help of Aadhaar authentication, you can withdraw or transfer money from any micro ATM or mobile device. In this you do not have to enter any PIN or OTP.
For the convenience of this service, you will have to go to the Banking Correspondent, they have an OPS machine, in which you can avail whatever service you want. That means permission will be given to withdraw or transfer money. After this, the biometric transaction will be verified through fingerprints and you can avail the facilities like balance check, cash withdrawal or transfer without ATM card.
