AB e-Vyapar: The PSU leader Andhra Bank has launched its new initiative for cashless transactions. This is for mobile phones. In order to make a cashless transaction only, the Aadhar Number is needed now. Earlier people who had to make a cashless transaction at the Point of Sale Machines had to swipe their card.
Then they had to enter the PIN #. Some find it difficult to memorise the PIN #. Many times people who go shopping forget their card and leave it behind. So in case you are one of those then this is great news for you.
Andhra Bank Introduces AB e-Vyapar: Now Transactions With Aadhar Number
Today The Andhra Bank made an announcement about its launch for a new cashless transaction for mobile phones. For this, the person has to only provide Aadhar number to make a transaction. The Andhra Bank CMD Suresh N Patel said, “I would like to announce about one more initiative under digitisation which we are starting from today, it is AB e-Vyapar.” He said this as there was an event which was attended by Union ministers M Venkaiah Naidu, Manohar Parrikar, Bandaru Dattatreya and others. For this initiative, only the Aadhar number is required and it does not need any Card or PIN #. He said, “Till now, we were having POS machines with the merchants and people were going with a card.”
Mr Patel said, “Now, with further introduction of technology, we have launched and created an infrastructure where with mobile, a small instrument will be attached and through Aadhar, the payments can be effected. No card is required, no PIN is required. Only Aadhar number will be required.” So this means that all that is needed to make a transaction is your Aadhar card number. No more carrying around credit/debit cards. No need to carry a lot of cash or memorise pin numbers. With the new initiative that the PSU leader Andhra Bank has launched which is called the AB e-Vyapar.
Post the demonetization last year several cashless facilities have come up. These include online payment platforms and digital money transfers online.