The document discusses the benefits of prepaid cards linked to Aadhar cards for cashless transactions, especially in rural areas. Key points: - Prepaid cards can be purchased from banks or post offices using Aadhar cards, with no expiry or need to set new PINs when purchased. - Cards can be used for cashless transactions by entering the registered Aadhar PIN at POS machines. Unused balances can be transferred to new cards if lost or stolen. - Linking the cards to Aadhar addresses security concerns and prevents unauthorized use if cards are lost. Transaction history and balances can be checked online.

1. No need for Cell Phone
Suitable for Rural folks

2. 
 Buy it from any bank or Post Office.
 Link to the Aadhar Card at the point of purchase
 No ‘expiry date’ for usage
 A registerd Aadhar Pin works every time.
 No need to set new PIN whenever card is purchased.
 Bills even to the last paisa can be settled without the
hassles of minor denominations
Use & throw prepaid cards

3. 
 Anyone can buy having Aadhar number
 No need to have mobile phone or android
applications
 When stolen others cannot use the cash balance
 Possibility of transferring unused amount to carry
forward in the next purchase.
 Aadhar portal can support PIN change, Transaction
history and balance on the card.
 POS machine produces instant printed receipts.
Advantages of prepaid card

4. 
 Why not make rechargeable cards?
 Reachargeable cards need unique identification number which
the consumer may find it difficult as one more number to
remember. Moreover Use-n- Throw cards are already in vogue
like telecards and gift cards by Corporates and Banks.
 How Aadhar card is linked?
 At the time of purchase, Bank or Post Office links your Aadhar
number to the card denomination you buy. The Aadhar Portal
already facilitates individuals to change the personal details. In
addition they need to facilitate registering a PIN for cashless
transaction. Once the Bank enters and activates card with the
Adhar number, the corresponding PIN will become functional.
Frequently asked Questions

5. 
 Do you mean without Aadhar number the card is not
functional?
 Yes. At the time of purchase a chalan is filled with Aadhar
number and denomination required. Only after the Bank( or
Post Office) activates the card by entering the Aadhar number it
acquires currency.
 What if the Card is lost?
 Nothing is lost as it can not be used by others since PIN is not
known. The unused balance is verified by the Bank and can be
transferred to another card.
 What if someone does not have Aadhar number?
 Let them continue with cash transaction. At least implement
with those who have Aadhar Card.
Frequently asked Questions

6.  Is it possible to fake the prepaid cards?
 The software for Financial and Banking sector has several levels of
in built security and encryption to deal with such a possibility.
 What about POS machines?
 These card reading machines are very affordable and available for
less than Rs 5000 and all one needs is a SIM –GPRS and Bank
account to be linked. Once the bill amount is deducted from the
consumer’s card it gets credited to the bank account of the vendor.
 What are the transction charges?
 At the time of purchase, 0.5% of card value should be collected and
the vendor should not be burdened with 2% charges as the popular
credit cards or debit cards do. This will greatly enhance the
vendors’ acceptance as he has nothing to lose in the entire
transaction.
Frequently asked Questions

7. 
 For India, with 70 % people in non urban areas, we
should device methods that will encourage integration of
technology with novel concepts.
 Though mobile phones have invaded common man’s life,
still people are apprehensive to use it for financial
transactions.
 Till such a time the next generation matures to use them
we need a system makes it happen the Cashless Concept.
 PREPAID CARDS CAN PLAY A BIG ROLE IN THIS
THANK YOU
Cashless: make it user friendly