In a relentless push for a cashless economy, the government is encouraging newer technologies.Last week, IDFC Aadhaar Pay was launched in Vijayawada, a merchant payment app for digital transactions. The government also plans to launch a common quick response (QR) code to accept payments. State governments are working on ways to bring all digital apps on one platform. Here are three digital initiatives to watch out for:

Aadhaar Pay app enable consumers to pay without any physical payment instrument. It runs on the Android platform and has to be installed by merchants.

To use it, merchants need to first download the Aadhaar Pay app and then register to start using. After registration, the merchant’s mobile phone needs to be linked to a Aadhaar biometric reader. Once the merchant has the infrastructure in place, the consumers can start transacting.

To make a payment, the consumer has to just enter her bank’s name and Aadhaar number. The fingerprint is the password for the transaction. To use this service, the customer has to first link her bank account to her Aadhaar.

It is machine-readable matrix which you can scan with your smartphone to pay. At present, various payment companies and banks provide different QR codes. The government sees potential in QR codes and is looking to provide a common QR code solution, which will be interoperable across payment networks. The government has approached payment network companies such as RuPay, MasterCard and Visa. A common QR code will allow merchants to display a standard QR code that can be linked to all the three payments networks—RuPay, MasterCard and Visa. Once launched, you will not need a physical card for transactions. You can just scan the QR code with your phone and transact.

Currently there are multiple e-wallets and mobile apps in the market. This month, Andhra Pradesh chief minister Chandrababu Naidu launched AP Purse app, an e-wallet and mobile app aggregator. Once you download the app, you will find all the major e-wallet service providers and mobile banking apps at one place.

The idea is to provide one place for all digital payment service providers. Though you can view all apps, you can’t do any transactions. To start using it, you need to click on the icon of a payment service provider. Next, you will be directed to download the app on your smartphone. The Kerala government is also looking to provide a similar aggregator for digital payments.

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