https://www.taxtmi.com/news?id=17064 The Committee endorsed operational measures to accelerate cashless transactions by rolling out a common Android-based Aadhaar Enabled Payment System (AEPS) for merchants requiring a smartphone and fingerprint scanner to enable cardless, PIN-less transactions, with banks promoting its adoption. It recommended allowing iris and OTP authentication for AEPS with no transaction charges, integrating prepaid instruments on the Unified Payments Interface (UPI) with a common QR code, reviewing the Merchant Discount Rate regime, adopting simplified KYC using Aadhaar, upgrading USSD, and examining procurement options for POS and micro-ATMs; a security committee was tasked to address payment security concerns. en-us Sat, 10 Dec 2016 13:22:26 +0530 Sat, 10 Dec 2016 13:22:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=17064 The Committee endorsed operational measures to accelerate cashless transactions by rolling out a common Android-based Aadhaar Enabled Payment System (AEPS) for merchants requiring a smartphone and fingerprint scanner to enable cardless, PIN-less transactions, with banks promoting its adoption. It recommended allowing iris and OTP authentication for AEPS with no transaction charges, integrating prepaid instruments on the Unified Payments Interface (UPI) with a common QR code, reviewing the Merchant Discount Rate regime, adopting simplified KYC using Aadhaar, upgrading USSD, and examining procurement options for POS and micro-ATMs; a security committee was tasked to address payment security concerns. News - Sat, 10 Dec 2016 13:22:26 +0530 https://www.taxtmi.com/news?id=17064