IDFC Bank announced the nation-wide launch of aadhaar-linked cashless merchant solution that uses a retailers' smartphone to enable digital payments.
Aadhaar Pay has been developed by IDFC Bank in association with Unique Identification Authority of India (UIDAI) and the National Payments Corporation of India (NPCI).
There are no transaction fees for both merchants and customers. IDFC Aadhaar Pay will accelerate the pace of growth for cashless payments.
IDFC Bank Ltd. is a part of integrated infrastructure finance company (IDFC) with head quarters at Mumbai. The bank started operations on 1 October 2015. IDFC received a universal banking license from the Reserve Bank of India (RBI) in July 2015. On 6th November, 2015, IDFC Bank was listed on BSE and NSE.