If you are an IDFC Bank customer and you have forgotten to carry your credit/debit while going shopping, you need not go back to fetch your cards, instead, you can pay bills through Aadhaar card number
If you are an IDFC Bank customer and you have forgotten to carry your credit/debit while going shopping, you need not go back to fetch your cards, instead, you can pay bills through Aadhaar card number. Customers of IDFC Bank will soon be able to pay their shopping bills with Aadhaar Pay as the bank has partnered TCS Merchant Pay to on-board merchants onto a digital payments platform that enables funds to be transferred into the shopkeeper’s account using multiple channels, most significant of them being Aadhaar Pay. After the partnership was made official, IDFC Bank executive director Avtar Monga told Times of India, “Today, if you go to a retail store, there is a disconnect between the register and payment mechanism. This platform will seamlessly integrate all the payment railroads into one solution.” TCS Payments’ India business head Ujjwal Mathur also enumerated the benefits of the tie-up saying that the TCS Merchant Pay platform is not just aimed at facilitating payments but also has the capability to undertake analytics and provide business intelligence to merchants. He further added that the platform is also capable of providing bill payment services.
Reliance Retail, which has several chains across the country, has also come on board. Besides enabling shopping via Aadhaar, Reliance will also provide customers option to do Aadhaar-enabled top-ups for Reliance Jio. Earlier, too TCS and IDFC had joined hands when the bank chose TCS for core banking, a move aimed at enabling next generation banking services that are more personalised, convenient and faster. “IDFC Bank intends to use technology to relentlessly drive efficiency, with a new approach to service and inclusive banking.
It must be noted that the TCS Merchant Pay is a universal payments platform that supports all payments infrastructure (BHIM Aadhaar Pay, Unified Payments Interface, 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.