Aadhaar-Based Payments System Set to Launch in India

Starting on April 14th consumers in India will be able to use their Aadhaar ID number to make payments; in theory this could replace payment services like PayTM and debit and credit cards; the Aadhaar Payments System (APS) will allow consumers to use their fingerprints to complete a transaction so long as they have an APS linked bank account; the system is not without drawbacks as there are privacy concerns and the entire system is based around data protection; this does fit in with Prime Minister Narendra Modi’s move to a cashless society, though it remains to be seen how everyday consumers will utilize it.  Source

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