After demonetization our Prime minister emphasize on cashless economy.
You can make payment in India in following ways to help boosting economy & fight against corruption -
1) Debit Card/Credit card via POS
3) UPI of different banks(Like SBI ebuddy) , e-wallets (Like paytm,freecharge)
4) and finally less known Aadhaar card.
So lets know how we can use our Aadhaar card to make payment easily in India :
1) First, cardholders will have to enter their Aadhaar ID number and go through a fingerprint or iris scanner verification for electronic transaction.
2) Merchant or shopkeeper will have a smartphone with a finger print scanner connected to it via an application.
Place the finger on that scanner to pay using Aadhaar.
3) The bank , which is already linked to the customer’s Aadhaar number will be debited with the amount to pay to the shopkeeper.
4) The money is directly transferred from the customer’s bank account to the merchant’s.
So start using alternatives to make Cashless economy in India. Please share this to everyone.