ThumbPay payment system: In a significant development in the financial infrastructure growth of the country Indian startup Proxy has launched a new biometric payment device called ThumbPay. Enabling payments through a thumbprint the new technology will allow users to transfer money without for cash cards QR codes or smartphones. Here are all the details you need to know about the Proxy launched ThumbPay payment system and how it will the eliminate the need for cash cards QR codes or smartphones. How will ThumbPay payment system eliminate QR codes? Priced under Rs 2000 the device links Aadhaar with UPI eliminating the need for cash cards QR codes or smartphones at a very affordable price. Moreover due to the its cost effectiveness and ease of payments it is best for small shopkeepers and rural areas. “India did the hard work building Aadhaar and UPI over the last decade; ThumbPay is a creative synthesis of these platforms” Ahuja says. By letting people transact with nothing but their inherent identity ThumbPay embodies the spirit of ‘Digital India by India Founder and CEO Pulkit Ahuja was quoted as saying by a Forbes India report about ThumbPay. How will ThumbPay payment system work? Apart from the payment mechanism the ThumbPay devise will also feature a certified fingerprint scanner camera UV sterilization UPI soundbox and connectivity through 4G Wi-Fi or LoRaWAN. Notably the UPI soundbox will notify the payee and payer about the payment being done. “By linking Aadhaar with UPI on a low-cost hardware device called ThumbPay Proxy aims to bring digital payments to every corner of India” the company has said about the event. Story highlights: Indian startup Proxy has launched a new biometric payment device called ThumbPay. The new system will eliminate the need for cash cards QR codes or smartphones. The new system will have scanner camera UV sterilization UPI soundbox. When will ThumbPay payment system start? As per the recent update Proxy has finished pilot testing and is seeking approval from UIDAI and NPCI before partnering with banks and fintech firms. When the registration process is completed the new technology of ThumbPay is expected to benefit especially the elderly rural users and daily wage workers who lack smartphones or digital wallets.