FireEye, PVH, Five Below Stock Upgraded --> FireEye, PVH, Five Below Stock Upgraded
U-shaped NYC skyscraper would be 'longest in the world'
Ford Motor Posted Forecast for First-Quarter
The Walgreens Boots Alliance Inc (WBA) Rating Reiterated by Deutsche Bank AG
Disney CEO Bob Iger gets contact extension to July 2019
India's 1st Aadhaar Pay Based Biometric Payment System Launched By IDFC Bank
21 March 2017, 02:57 | Kelvin Horton
IDFC Bank launches Aadhaar Pay; here's how biometric-based app works
The government on Tuesday prodded all banks to move to the Aadhaar Pay platform at the launch of IDFC Aadhaar Pay-the first Aadhaar linked cashless merchant solution, offered by IDFC Bank Ltd.
As The Hindu BusinessLine reports, the app has been launched following a three-month trial that involved 1,500 merchants across 16 states. The payments are authenticated through a biometric scanner, with the Aadhaar Enabled Payment System implemented.
A total of 1 billion Aadhar numbers have been made and almost 400 million Aadhaar numbers have been linked to bank accounts. "If they don't follow this lead, technology will make them redundant", Amitabh Kant, CEO of the government think tank NITI Aayog, told reporters at the launch event.
IDFC Aadhaar Pay first went live at a fair price shop in Andhra Pradesh in December 2016, and was subsequently introduced to merchants in Delhi and Bihar.
As per IDFC, they are planning to bring on-board 50,000-60,000 merchants on their Aadhaar Pay platform in the next 2 years, and make this 1,00,000 by the end of 2020.
And the best part about this new cashless push is that payers don't even need a mobile phone for making the payment. "Basic banking services will come to those who even do not have basic mobile phones", he said.
Besides all these, the Aadhaar linked to the bank account and the thumb impression acts as a password, and it doesn't impose any transaction fee on the consumer.
Currently, the service has been rolled out only for small value transactions such as payment of grocery bills to vendors and purchases made at a milk booth and so on. The Aadhaar bridge payment system is used for the transaction process.
Aadhar Pay App was developed by the IDFC Bank along with UIDAI and National Payments Corporation of India. These will be IDFC Bank's extended points-of-presence.
Republicans count votes, put final touches on health care bill
The association represents insurers that cover the majority of the 10 million Americans enrolled in the 2017 Obamacare plans. Conservative Republicans who met Trump said he agreed to changes on the Medicaid government insurance program for the poor.
Hot deal: Apple's iPhone SE at Rs. 19999 in India
It sports a fingerprint scanner, 12-megapixel iSight camera, featuring Live Photos and faster wireless as well as Apple Pay. This price cut is not yet officially announced by Apple , but only Apple distributors are promoting this huge discount.
Deadpool 2: The writers promise darker characters
Wernick also noted they will need an actor playing Cable "who can carry a franchise moving forward". Those linked include Stephen Lang, Pierce Brosnan, Nathan Fillion, Russell Crowe and David Harbour.
Tottenham Player Ratings: Win vs Southampton
Mauricio Pochettino could be without five players for Tottenham's game at home to Southampton on Sunday. We're a hard working team and that's a big thing for this manager; that you work hard off the ball.
On Twitter, Trump Puts His Spin on Intel Hearing
The FBI has also been investigating ties between Russian Federation and Trump advisers and associates during the campaign. It's a lesson Trump didn't have to learn on the campaign trail, but being president means your words have more weight.