The initiative according to Andhra Bank, works with a smartphone and requires only the Aadhaar number for payments.
PSU lender Andhra Bank today announced the launch of a new initiative for cashless transactions through mobile phones for which only the Aadhaar number is required. “I would like to announce about one more initiative under digitization which we are starting from today, it is AB e-Vyapar,” Andhra Bank CMD Suresh N Patel said here at an event attended by Union ministers M Venkaiah Naidu, Manohar Parrikar, Bandaru Dattatreya and others.
The initiative needs only Aadhaar number and not even any card or a PIN, he said. “Till now, we were having POS machines with the merchants and people were going with a card.” Now, with further introduction of technology, we have launched and created infrastructure where with mobile, a small instrument will be attached and through Aadhaar, the payments can be effected. No card is required, no PIN is required. Only Aadhaar number will be required,” Patel said.