IT major TCS on Tuesday rolled out Aadhar-enabled 'Merchant Pay' payment gateway for retailers and merchants. As a push to Modi government's financial empowerment drive, Merchant Pay App starts shortly after the launch of Aadhar Pay on the BHIM app on April, 14. Not only banks but companies are also capitalizing on the new biometric opportunity.
In a statement, India's largest IT company by revenue said that the new platform will integrate with several banks and offer retailers and merchants an option to accept payments via different modes including Aadhar Pay, mobile wallets, Unique Payments Interface (UPI) as well as credit and debit cards.
In one of the reports Ravi Viswanathan, President of Growth Markets at TCS is quoted saying "We are proud to innovate for India's digital transformation. TCS worked with the Government to pioneer a simple payment acceptance using Aadhar".
As told, to get going with the new payment solution of TCS, Merchant Pay, merchants first have to get themselves registered with Aadhar Pay and simultaneously integrate their smartphones with a a micro-USB fingerprint scanner. The scanner shall also facilitate card-linked payments. Later, merchants need to install the company's merchant app and link it with their current accounts.
The company will organize special events in order to on-board as well as train merchants and retailers. Also, a 24x7 support system will be provided to cater to the critical business issues of merchants including training and on-boarding merchants, cloud hosting, 24x7 network and multi-lingual support.
The new solution will also be used as a business analytics platform facilitating strategic decision making to bring down the cost of payment.
The roll out of Merchant Pay App provides ease to both consumers as well as retailers as now merchants can accept payment via any digital mode and also have a unified access to all such transactions. On the other hand, consumers can make a transaction on this Merchant-Pay enabled platform by TCS just by using their fingerprints which then confirms their identity.