Government has planned to replace the password and pin number used in online transactions with Aadhaar card number. The decision came to encourage cashless transactions across the country.
Government is also working on developing an application which can be used by people, merchants, shopkeepers for receiving payments via Aadhaar enabled payment system.
UIDAI Chief Executive Officer Ajay Bhushan Pandey told reporters that, UDAI will eventually increase its biometric authentication capacity to 40 cores.
He also said “We will create awareness about this mode of transactions. We will manage to create capacity for 40 crores authentications. Yesterday, 1.31 crores Aadhaar-enabled biometric authentications were reported. We will increase it gradually.”
When it comes to security, he said there would be utmost privacy for all Aadhaar-related transactions.
This initiative is taken which will help government to curb black money and corruption and will be influencing cashless transactions in the country.
It is also aimed that it will bring financial transparency.