Aadhaar-linked accounts to be basis for mobile payments

200 px

I do find it interesting that everyone in the development community is focused on mobile payments and yet the attachment of a higher level of verification using biometrics and a randomly generated 12 digit number and it is a target at every turn.

Over 30 million linked accounts to start DBT payments in most countries would be considered a resounding success. M-Pesa still only has 17 million accounts and a very very low level of security but is considered the gold standard for mobile payments. Praveen Chakravarty, chief executive, Anand Rathi Financial Services, says, the application sounds great conceptually and is in line with the government’s current thrust on financial inclusion. “Of the 600,000 villages in the country, banks are present in only 40,000.”

Now, Aadhaar-linked accounts to be basis for mobile payments | Business Standard.

Enhanced by Zemanta
Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s