BENGALURU | NEW DELHI: The future of Aadhaar Pay<\/a>, envisaged as a central plank of the government’s digital payments drive, hangs in the balance. Experts said it will probably now be restricted to rural areas, where most people get welfare payments from the government and have pre-existing Aadhaar-linked bank accounts. 班加罗尔|新德里:未来的Aadhaar支付,设想作为一个政府的政策核心的数字支付开车,挂在平衡。专家说,现在可能会被限制在农村地区,大多数人从政府福利支出和既存Aadhaar-linked银行账户。
The Supreme Court’s scrapping of the mandatory linking of Aadhaar with bank accounts will impact the payment mechanism that allowed customers to use their unique identity to conduct transactions instead of debit cards or other instruments.
The judgement said direct benefit transfers will continue to be Aadhaar linked. Customers should still be able to use the system if they choose to do so, a senior private sector bank executive said.
“For all practical purposes, Aadhaar has become optional,” he said. Aadhaar-based payments, which are managed by the National Payments Corporation of India, allowed customers to operate bank accounts using the 12-digit ID and biometrics.
The system has two components —BHIM Aadhaar Pay and Aadhaar enabled Payment System (AePS<\/a>). (BHIM stands for Bharat Interface for Money, an NPCI app.) BHIM Aadhaar Pay is a merchant app that can be used to receive payments from customers digitally.
AePS allows consumers without smartphones or debit cards to withdraw or transfer funds and check account balances using biometric authentication through microATMs.
Aadhaar Pay was launched by Prime Minister Narendra Modi<\/a> in April 2017 as a key element of the government’s financial inclusion and digital payments drive for those without credit and debit cards. Part of its mission was promoting digital payments outside urban centres.
While Aadhaar linking is no longer mandatory, the convenience of the identity-based payment system could mean that it may persist in voluntary form, a government official said.
“If people can link their bank accounts and mobile numbers with applications like Google Pay or WhatsApp, then why they can’t do the same in the case of Aadhaar Pay?” he said. “As long as there is no element of compulsion, it can be done.”
NPCI did not respond to ET’s queries. In the year to March, there were 104.2 million AePS transactions for a total value of Rs 26,286 crore, according to NPCI data. The official cited above said that Aadhaar Pay had been more widely adopted in rural areas.
“Either way, AePS was not a very popular phenomenon in the urban areas, but it offers a particular advantage to people who may not have a card, smartphone or are not literate,” he said. “So it is still available as a solution for them, otherwise some new technology will come and take its place.\"
Executives said such payment modes help people in remote locations without bank branches and ATMs to avail of basic financial services in a cost-effective manner. Life for such users could get harder without Aadhaar Pay.
\n \n ![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
“If people chose to shun Aadhaar, then how will they access their DBT funds, which come directly into their bank account,” said a senior payment executive who deploys micro ATM terminals for banks. “It is a choice between travelling many kilometres to avail banking services, against getting them at the doorstep.”
Regulators and lawmakers should clarify the effect of the judgement on Aadhaar-based payment mechanisms, an analyst said. “In spirit, the judgement supports leveraging Aadhaar for benefits distribution.
The initial use case of AePS was to enable benefits distribution. The innovation around that was Aadhaar Pay (to make payments to merchants),” said Vivek Belgavi, fintech leader at PwC India. “In my understanding, the former shouldn’t get impacted and the latter would depend on what the lawmakers come back with.”
Non-state banks such as IndusInd Bank, Yes Bank and RBL Bank have been at the forefront of deploying terminals to process Aadhaar-based payments in rural areas and expand their presence without having to invest heavily in bank branches and ATMs.
The Prime Minister had said at the time of its launch that the BHIM Aadhaar Pay app can work even on a Rs 1,000-1,500 phone. Almost 970 million bank accounts held by 610 million people have already been linked to Aadhaar and so have more than 800 million mobile phones subscribers.
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最高法院废除强制连接Aadhaar的银行账户将会影响支付机制,允许客户使用他们独特的身份进行交易,而不是借记卡或其他工具。
判断说直接收益转移将继续Aadhaar联系在一起。客户应该仍然能够使用这个系统,如果他们选择这样做,私人部门银行高管说。
这个系统有两个组件-BHIM Aadhaar支付和Aadhaar使支付系统(美国电力公司)。(BHIM代表巴拉特接口,一个NPCI应用)BHIM Aadhaar薪酬的商业应用程序,可用于接收来自客户的支付数字。
aep允许消费者没有智能手机或借记卡撤回或转移资金和使用生物认证通过microATMs检查账户余额。
Aadhaar支付是由总理莫迪2017年4月作为一个政府的金融包容的关键元素和数字支付推动那些没有信用卡和借记卡。的一部分,它的使命是推动数字城市中心以外的支付。
虽然Aadhaar链接不再是强制性的,基于身份的便利支付系统可能意味着它可能坚持自愿形式,一名政府官员说。
“如果人们可以联系他们的银行账户和手机号码与谷歌这样的应用程序支付或WhatsApp,那么为什么他们不能做同样的在Aadhaar付款?”他说。“只要没有强制的元素,这是可以做到的。”
NPCI没有回应等的查询。今年3月,有1.042亿名美国电力交易总额26286卢比,据NPCI数据。上面引用的官方说Aadhaar多付被广泛采用在农村地区。
“不管怎样,aep并不是一个非常受欢迎的现象在城市地区,但它提供了一个特殊的优势的人可能没有一张卡片,智能手机或不识字,”他说。“所以他们仍然可用作为解决方案,否则一些新技术来将它的位置。”
高管们表示,这种付款方式帮助人们在偏远地区没有银行分支机构和自动取款机效果的基本金融服务符合成本效益的方式。生活没有Aadhaar工资,这样用户可以变得更加困难。
“如果人们选择避开Aadhaar,那么他们将如何访问印度生物技术部基金,直接进入他们的银行账户,“支付高管说部署微观银行ATM终端。“这是一个选择旅行许多公里利用银行服务,让他们在门口。”
监管机构和国会议员应该澄清的效果判断Aadhaar-based支付机制,分析师说。“在精神,判断支持利用Aadhaar收益分布。
aep的初始用例使利益分配。Aadhaar的创新在支付(支付商户),“说,Vivek Belgavi fintech领袖普华永道印度。“在我的理解,前不应该影响,后者将取决于国会议员带回来。”
IndusInd等非国有银行银行,对银行和家庭成员银行一直在部署终端处理的前沿Aadhaar-based支付在农村地区,扩大他们的存在,而不必投资在银行分支机构和自动取款机。
总理说的时候推出BHIM Aadhaar支付应用程序甚至可以在Rs 1000 - 1500电话。近9.7亿个银行账户持有的6.1亿人已经与Aadhaar所以有超过8亿手机用户。
BENGALURU | NEW DELHI: The future of Aadhaar Pay<\/a>, envisaged as a central plank of the government’s digital payments drive, hangs in the balance. Experts said it will probably now be restricted to rural areas, where most people get welfare payments from the government and have pre-existing Aadhaar-linked bank accounts.
The Supreme Court’s scrapping of the mandatory linking of Aadhaar with bank accounts will impact the payment mechanism that allowed customers to use their unique identity to conduct transactions instead of debit cards or other instruments.
The judgement said direct benefit transfers will continue to be Aadhaar linked. Customers should still be able to use the system if they choose to do so, a senior private sector bank executive said.
“For all practical purposes, Aadhaar has become optional,” he said. Aadhaar-based payments, which are managed by the National Payments Corporation of India, allowed customers to operate bank accounts using the 12-digit ID and biometrics.
The system has two components —BHIM Aadhaar Pay and Aadhaar enabled Payment System (AePS<\/a>). (BHIM stands for Bharat Interface for Money, an NPCI app.) BHIM Aadhaar Pay is a merchant app that can be used to receive payments from customers digitally.
AePS allows consumers without smartphones or debit cards to withdraw or transfer funds and check account balances using biometric authentication through microATMs.
Aadhaar Pay was launched by Prime Minister Narendra Modi<\/a> in April 2017 as a key element of the government’s financial inclusion and digital payments drive for those without credit and debit cards. Part of its mission was promoting digital payments outside urban centres.
While Aadhaar linking is no longer mandatory, the convenience of the identity-based payment system could mean that it may persist in voluntary form, a government official said.
“If people can link their bank accounts and mobile numbers with applications like Google Pay or WhatsApp, then why they can’t do the same in the case of Aadhaar Pay?” he said. “As long as there is no element of compulsion, it can be done.”
NPCI did not respond to ET’s queries. In the year to March, there were 104.2 million AePS transactions for a total value of Rs 26,286 crore, according to NPCI data. The official cited above said that Aadhaar Pay had been more widely adopted in rural areas.
“Either way, AePS was not a very popular phenomenon in the urban areas, but it offers a particular advantage to people who may not have a card, smartphone or are not literate,” he said. “So it is still available as a solution for them, otherwise some new technology will come and take its place.\"
Executives said such payment modes help people in remote locations without bank branches and ATMs to avail of basic financial services in a cost-effective manner. Life for such users could get harder without Aadhaar Pay.
\n \n
“If people chose to shun Aadhaar, then how will they access their DBT funds, which come directly into their bank account,” said a senior payment executive who deploys micro ATM terminals for banks. “It is a choice between travelling many kilometres to avail banking services, against getting them at the doorstep.”
Regulators and lawmakers should clarify the effect of the judgement on Aadhaar-based payment mechanisms, an analyst said. “In spirit, the judgement supports leveraging Aadhaar for benefits distribution.
The initial use case of AePS was to enable benefits distribution. The innovation around that was Aadhaar Pay (to make payments to merchants),” said Vivek Belgavi, fintech leader at PwC India. “In my understanding, the former shouldn’t get impacted and the latter would depend on what the lawmakers come back with.”
Non-state banks such as IndusInd Bank, Yes Bank and RBL Bank have been at the forefront of deploying terminals to process Aadhaar-based payments in rural areas and expand their presence without having to invest heavily in bank branches and ATMs.
The Prime Minister had said at the time of its launch that the BHIM Aadhaar Pay app can work even on a Rs 1,000-1,500 phone. Almost 970 million bank accounts held by 610 million people have already been linked to Aadhaar and so have more than 800 million mobile phones subscribers.
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