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IDFC Bank customers now can pay using Aadhaar number

IDFC Bank announced it is partnering with TCS Merchant Pay to create a system whereby its customers would be able to pay for their shopping using the Aadhaar number. The proposal is to on-board merchants onto a digital payments platform that will facilitate transfer of funds into the shopkeeper’s account using multiple channels, including Aadhaar Pay. Reliance Retail, a large chain, would be the first to come on the platform. The tie-up will enable Reliance to accept payments from shoppers using Aadhaar and also enable the customers to do Aadhaar-enabled topups of Reliance Jio phones. TCS Merchant Pay supports various payment channels like BHIM Aadhaar Pay, UPI and cards/Bharat QR). IDFC Bank is the first to use this platform, which has the ability to service all types of customers including those with phones, cards, and those without phones. The platform can also undertake analytics and provide business intelligence to merchants.

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