wordpress blog stats
Connect with us

Hi, what are you looking for?

Deadline for Aadhaar and biometric POS terminals extended : RBI

AADHAAR

In relief to banks and POS machine companies, the Reserve Bank of India (RBI) has extended the deadline for making sure that all new card acceptance devices will have Aadhaar and biometric capabilities to June 30, 2017. Earlier, the RBI said RBI says that any new card acceptance infrastructure needs to be compliant with Aadhaar and biometric scanners from January 1st, 2017.

“It has been brought to our notice that the rate of deployment of acceptance infrastructure has slowed down owing to the mismatch between demand and supply of such Aadhaar-enabled devices. Therefore, on a review, it has been decided to extend the time for deployment of Aadhaar-enabled devices till June 30, 2017,” the RBI added.
Note that the RBI said that it will be coming out with detailed guidelines on enablement of existing card acceptance infrastructure for processing payment transactions using Aadhaar-based biometric authentication, although a date was not mentioned.

This is not the first time the RBI has sent a notification to banks about Aadhaar-enabled POS and ATMs. It had sent out a notification back in November 2013 which was met with opposition from banks who said that the cost of new machines would be too high and Aadhaar will have very little acceptance in authentication of payments.

The RBI then shelved decision for Aadhaar-based authentication for payments in May 2014.

Aadhaar did not have a proper legal framework in 2013 and the Supreme Court ruled that it cannot be made mandatory for services. However, the Aadhaar Act was passed in Parliament in March as a money bill  and notified it in July. This made Aadhaar mandatory for people to avail  financial subsidies and benefit. It would also operationalize the Act and gave it a legal framework for the issuance and use of the Aadhaar.

Advertisement. Scroll to continue reading.

POS terminals which accept Aadhaar 

– Private sector lender YES Bank announced this week that it is partnering with Lastmile.mobi to introduce POS machines which can accept card and UPI payments, Aadhaar E-KYC and Aadhaar E-signing. The machine also fucntions as an ATM and allows cash withdrawal, transfer funds, purchase through cards, check account balances, do eKYC for opening bank accounts.

– In August last year, Oxigen introduced introduced ‘Super PoS’, a device that will upgrade a network of 200,000 locations under the Jan Dhan Yojana. According to the company, it will bring the platforms of financial inclusion, cards payment and recharge/bill payments on the PoS device. The Super PoS will have micro ATMs according to UIDAI/NPCI specifications, a biometric reader for Aadhaar transactions and eKYC, a built in NFC with tap and pay debit card and magnetic swipe for Rupay, VISA, MasterCard debit and credit cards.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The Delhi High Court should quash the government's order to block Tanul Thakur's website in light of the Shreya Singhal verdict by the Supreme...

News

Releasing the policy is akin to putting the proverbial 'cart before the horse'.

News

The industry's growth is being weighed down by taxation and legal uncertainty.

News

Due to the scale of regulatory and technical challenges, transparency reporting under the IT Rules has gotten off to a rocky start.

News

Here are possible reasons why Indians are not generating significant IAP revenues despite our download share crossing 30%.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ