PSU lender Andhra Bank Monday announced the launch of a new initiative for cashless transactions through mobile phones for which only the Aadhar number is required.
“I would like to announce about one more initiative under digitisation which we are starting from today, it is AB e-Vyapar,” Andhra Bank CMD Suresh N Patel said in Hyderabad at an event attended by Union ministers M Venkaiah Naidu, Manohar Parrikar, Bandaru Dattatreya and others. The initiative needs only Aadhar number and not even any card or a PIN, he said.
“Till now, we were having POS machines with the merchants and people were going with a card.
“Now, with further introduction of technology, we have launched and created 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,” Patel said.