But then , a caterpillar has no choice !
It is simply ordained – a matter of
evolution – a matter of survival !
A case in point :
Hindustan Times ( 08 March 2017 ) carries following
news report :
----------------------------------------------------------------------------------------------
“ Now , use your Aadhar card to make payments “
The government launched on
Tuesday an Aadhaar card-linked payments system that will allow customers to
ditch their debit and credit cards and pay using fingerprints.
Aadhaar Pay, a new Android-based smartphone app, will also
eliminate the fee charged by private card companies such as MasterCard and
Visa. The app is available on Google Play Store.
Merchants must
download the app on smartphones connected to a biometric reader. A customer has
to enter her Aadhaar number in the app and select a bank for payment. Biometric
scans are used as passwords.
This is the government’s latest move to encourage people to go
cashless. The app was first announced by finance minister Arun Jaitley in his
budget speech in February. The government targets 25 billion digital
transactions on various new payments platforms in 2017-18.
The government issued one
billion Aadhaar cards till April 2016, the latest year for which data is
available. At least 400 million of these are linked to bank accounts, and the
government hopes to link the rest by the end of this month.
Aadhaar Pay has been
developed by IDFC Bank in collaboration with several government organisations,
including the agency that controls Aadhar cards.
“Basic banking services will come to those who do not have even
basic mobile phones,” he said.
The State Bank of
India and Punjab National Bank will launch their merchant platforms for Aadhaar
Pay in the coming weeks.
The app has some limitations, though.
It works only where there
is internet connection, unlike debit or credit card machines which can work on
telephone lines. Plus, the app can’t be used to transfer funds or get immediate
information on refunds.
But the metamorphosis will be complete
when AEPS ( Aadhar Enabled Payment System ) , enables crores of illiterate rural
Indians to effect “ Payment Transactions “ , using just their
·
IRIS ( looking into
the camera of the Merchant’s Smartphone )
·
FINGER ( touching
the screen of that phone;no separate reader attachment )
·
SPEAKING ( into that
phone )
To know how this is inevitable , read my earlier blog /
email :
ONLY THIS WILL DECIDE
WHICH
MOBILE WALLET WILL
SURVIVE !
08 March 2017
www.hemenparekh.in
/ blogs
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