BENGALURU: As people struggle to go cashless due to monetization rule, government has come up with this amazing app that will help people with cashless transactions. The latest app can be installed in Android phones and it uses a buyer's fingerprint & bank-linked Aadhaar number to facilitate cashless transactions.

This app has been developed by IDFC Bank and was recently launched in Andhra Pradesh. It is said that, the app works on those smartphones that has a verified Aadhaar biometric reader to scan the fingerprint of the user. It becomes the trader's microATM for cashless purchases.

To use this app, the customers need to register first. User then gets an SMS with a link to download the app. Initially, a team will visit the user and train him, which will enable any customer who has Aadhaar linked bank accounts (AEPS) to pay with just two fields: bank name & Aadhaar number.

The buyer has to punch details of the bank and Aadhaar number into seller's phone. Password is a person's fingerprint, which is virtually foolproof to date. Once the individual’s finger is scanned, fingerprint is matched with biometrics available at the Aadhaar repository. Price of the product purchased gets debited from Aadhaar-linked account

This makes buyers life easier, they do not have to remember passwords, account numbers or set up virtual payments address. For sellers, customer pays no transaction fee.

If the retailer has some issues with the transaction, they can access a microATM helpline that is slated to be eventually embedded in the app.

This app uses the same framework as AEPS (Aadhaar Enabled Payment System). It is claimed that, daily around 10 lakh transactions are made in this manner — so far a secure system. IDFC Bank has changed the way it is carried out — now a separate device is not required.

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