Money & Banking

NPCI’s Aadhaar-based transactions

| | Updated on: Jan 01, 2014

Payments made through National Payment Corporation of India’s Aadhaar Payment Bridge System crossed the one crore transactions mark during December.

Bulk of these transactions related to Direct Benefit Transfer for LPG subsidy, NPCI said in a statement.

NPCI said Aadhaar number can also be the financial address for making remittances.

The Aadhaar Mapper has close to five crore Aadhaar numbers mapped to various banks and government departments and make payments to about five lakh beneficiaries each day using just the Aadhaar number as the address.

“Our target is to reach 10 crore Aadhaar-based transactions a month by December 2014,” said A.P. Hota, MD and CEO of NPCI.

Published on January 01, 2014

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