Andhra Bank launches e-Vyapar for cashless payments with only Aadhaar

Q.  Which PSU lender has announced cashless transactions through mobile phones for which Aadhaar is required only?
- Published on 17 Jan 17

a. SBI
b. PNB
c. Andhra Bank
d. Dena Bank

ANSWER: Andhra Bank
 
Andhra Bank launches e-Vyapar for cashless payments with only AadhaarPSU lender Andhra bank on 16th Jan 2017 announced the launch of a fresh initiative for cashless transactions through mobile phones. Only the Aadhaar number is required for these.

The e-payment scheme is called AB e-Vyapar. Andgra Bank CMD Suresh N Patel made the announcement.

The initiative needs only Aadhaar number and not even any card or a PIN.

Till now, the PSU bank had POS machines with the merchants and people were going with a card.

Now with technology, the bank has launched and created infrastructure where with mobile, a small instrument will be attached and through Aadhar, the payments can be effected.

About Andhra Bank
  • Industry: Finance
  • Founded: 20 November 1923
  • Founder: Bhogaraju Pattabhi Sitaramayya
  • CMD: Suresh N Patel
  • Revenue: ₹178.68 billion (US$2.7 billion) for 2015

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