Fin-tech startup BANKIT launches 'Aadhaar Pay Service' to empower rural population

By VARINDIA - 2021-02-04

Fin-tech startup BANKIT launches 'Aadhaar Pay Service' to empower rural population

Digital payment methods have taken A huge leap, especially since the onset of the pandemic. BANKIT, a Noida-based fin-tech startup, has launched AADHAAR PAY using Aadhar-enabled Payment system (AePS) technology of NPCI at its web portal and mobile app to enable its registered merchants and shop owners to take payments from their customers easily.

 

The newly launched service created exclusively for people who reside in rural areas of the country and are not tech-savvy, simply requires customers’ Aadhaar numbers, Aadhar-linked Bank names and customer’s presence at shop to complete the biometric to complete the payment process. Available in 23 states across all 50,000 BANKIT outlets and 10,000+ Kirana stores, the service uses a biometric fingerprint scanner on the retailers phone to authenticate the transactions, hence a smartphone with the customer OR debit card etc. are not required for a digital payment from the bank account of the customer.

 

Furthermore, the fast-growing fin-tech startup charges a mere 0.30% + GST from merchants as MDR for AADHAAR PAY service, which is very less compared to debit/credit card payments where the Merchant Discount Rate (MDR) is 1%-1.5%.

 

The system is designed to automatically fetch the bank account linked with the customer’s Aadhaar number and debit the customer’s bank account and the Merchant’s BANKIT Wallet Balance will be credited on real time.

 

Amit Nigam, COO & Executive Director of BANKIT said, “Today, even the country’s rural population is looking to shift to e-payment methods. However, they often lack the technical know-how that is required for it. With BANKIT’s Aadhaar Pay Services, customers can now complete a digital payment at any BANKIT outlets/ kirana stores etc. across the country with just a biometric authentication. The service is aimed at empowering the local merchants to facilitate digitalisation for the digital Novice. The service is now available in current 10,000+ Kirana stores among 50,000+ Bankit Outlets, providing BANKIT services to their customers in the vicinity.

 

Any merchants or a Kirana stores owner can also download the BANKIT Agent app from the Google Play store to start collecting payments from their customers along with offering various Banking and financial services to their customers and become a Banking hub in their vicinity. BANKIT’s Aadhaar Pay Services will greatly simplify the payment process and enable cashless transactions. We will be launching more such services soon.”


 CIO  - SPEAK
Start-Up and Unicorn Ecosystem
 SOFTWARE  Placeholder image
Zoho One announces new apps, services and platform enhancements

Zoho One announces new apps, services and platform enhancements

Zoho Corporation has introduced six new apps, three new services and seven major platform...

Happiest Minds included in Now Tech: Robotic Process Automation Services analyst report

Happiest Minds included in Now Tech: Robotic Process Automation Services analyst report

Happiest Minds Technologies Limited (NSE: HAPPSTMNDS), a ‘Born Digital. Born Agile&r...

VARINDIA SIITF
SOUTHERN INDIA INFORMATION TECHNOLOGY FAIR (SIITF) -2018
BANGALURU
VARIndia - Star Nite Awards
STAR NITE AWARDS(SNA) - 2018
NEW DELHI
VARINDIA - OITF
ODISHA INFORMATION TECHNOLOGY FAIR(OITF)-2019
BHUBANESWAR
VARINDIA - WIITF
WESTERN INDIA INFORMATION TECHNOLOGY FAIR(WIITF) - 2019
MUMBAI
 INDUSTRY EVENTS Placeholder image
Asia-Pacific Women leaders power up for 4th annual Women to held from November 1-5

Asia-Pacific Women leaders power up for 4th annual Women to held from November 1-5

Hundreds of ambitious women in business will gather virtually at the fourth annual Wo...

India Pavilion at Expo 2020 Dubai to host ‘Space Week’ starting 17th Oct

India Pavilion at Expo 2020 Dubai to host ‘Space Week’ starting 17th Oct

The India Pavilion at Expo 2020 Dubai today announced the agenda for the upcoming Space We...

Huawei organizes an Energy Summit themed on Digital Energy, Powering the Low Carbon Era

Huawei organizes an Energy Summit themed on Digital Energy, Powering the Low Carbon Era

Huawei has hosted the Energy Summit online, which was held within the framework of HUAWEI...


Copyright varindia.com @1999-2021 - All rights reserved.
Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.
Other Initiatives : www.mybrandbook.co.in | www.spoindia.org

advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription advertisement video production, home video distributors, home video company, List of PC Magazines, Best online PC Magazines, Top Online PC Magazines in India, Best online PC Magazines in India, Best PC Magazine, PC Magazine Subscription