To encourage cashless transactions in the State and to make cashless transactions popular among the people, new alternatives are being presented by the Bankers regularly. Information on these alternatives was provided to the Members of the Cabinet in presence of Minister for Finance Jayant Malaiya at Mantralaya on Tuesday. A presentation on this was given by the Coordinator of State level Bankers Committee Ajay Vyas.
It is informed during the presentation that there are five easy ways for cashless transactions like Unified Payment System, through Smart Phones, USSD and through normal Mobile phones. E-Wallet, Aadhar Empowered Payment System (AEPS), Payment Cards and Point of Sale are included in this. Moreover, it is informed that Unified Payment Interface (UPI) App has been prepared by the Union Government. All the banks have been brought at one platform under this App. Convenience of One rupee payment upto `1 lakh has been given through this App. It is not must for the receiver and sender to share their bank details, only payment address sharing is must.
Besides, the special feature of the App is that bank account of any person can be connected to the UPI App of any bank. Internet facility and smart phone is must for the App. Information of bank account and debit card is required at the time of registration only and linking of mobile number with bank account is must in the App. A video film was also exhibited to the members of the cabinet to apprise about UPI application download and its utilisation.
Also information on utilisation of USSD in cashless transactions was given. This App has been prepared especially for the rural area. There is no need for smart phone and internet connectivity for this. It works on message and customer can transacts upto `5,000 maximum in a day.
E-Wallet can be downloaded by smart phones. PIN (Personal Identification Number) is prepared for this which is kept secret. Amount for e-wallet can be loaded from bank account or payment card.
Information on payment system through Aadhar card was also given. Under this, work regarding Aadhaar number seeding to bank account is being carried out. For aadhar based transactions, customers are required to register their aadhar numbers in micro ATM Convenience of transaction’s receipt is also given under this.
The information on transactions through point of sale device was given to the members of the Cabinet on the occasion.