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Fin-tech Startup BANKIT Launches ‘Aadhar Pay Service’ To Empower The Rural Population

The service aims at empowering the BANKIT Agents to accept payment digtally from the non-tech savvy customer who is not educated or equiped with even smartphones.

04, February, 2021: Digital payment methods have taken the country by storm, especially since the onset of the pandemic. The fin-tech sector has undergone major disruptions and India is gradually but surely gravitating towards e-payment methods. 

Against this backdrop, 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 for taking payments from their customers easily.

Created exclusively for people who reside in rural areas of the country and are not tech-savvy, the newly launched service 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. 

 Speaking on the new development, Mr. 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. BANKIT’s Aadhaar Pay Services are 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. BANKIT’s Aadhaar Pay Services will simplify the payment process and enable cashless transactions. We will be launching more such services soon.”

Source: Business World

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