eMudhra launches Aadhaar eSign-based digital clearing for recurring payments
Digital identity and transaction management solutions provider, eMudhra has launched Aadhaar eSign-based National Automated Clearing House (NACH) gateway with National Payments Corporation of India (NPCI) – which aims to help large and small enterprises to collect recurring payment instructions from customers without the need for submitting physical forms.
The solution aims to facilitate paperless electronic transactions which are repetitive and periodic in nature simplifying activation time for all parties, remove geographical barriers and bring about efficient banking for the customers.
Aadhaar eSign-based NACH mandate will offer considerable benefits in terms of legal non-repudiation, significantly lower costs and eliminate errors since the entire process is now digital. About 95% of transaction related costs will now be slashed, making it one of the most comprehensive and time saving proposition for enterprises, said the company.