In order to ease the digital payment operations at the level of merchant, UIDAI would shortly roll out the common Android based Aadhaar Enabled Payment System (AEPS) application developed in collaboration with TCS that can be downloaded by the merchants. In order to use this Application for carrying out cashless transactions, merchants will need a smartphone and a fingerprint scanner. Transactions on this application can be done without any card or PIN. The application would be made available to all banks and the banks would encourage merchants in their vicinity to adopt this application.
RBI should allow authentication through iris scanner and One Time Password (OTP) for AEPS.There should be no charge on AEPS transactions.
Inter-operability of all pre-paid instruments on the United Payments Interface(UPI) platform alongwith a common QRCode would greatly simplify transactions.
The Merchant Discount Rate (MDR) regime needs to be streamlined. To popularize digital transactions the Committee proposed a detailed review of the MDR regime, inter-linking of various digital payments platforms such asUnstructured Supplementary Service Data (USSD) with UPI, self-boarding by small merchants and a common application for UPI, etc.
Procedure for simplified Know Your Customer (KYC) using Aadhaar needs to be adopted.