The present disclosure provides a method and system for enabling Identification (ID) card for transactions. The system of the present disclosure provides an application through which an individual login using their ID card. Upon login, income details of the individual are self-declared in the application. Further, the system of the present disclosure categorises the individual based on the income and provides options of issuers/Fintech that may service this income group category. Further, once an issuer/Fintech is identified, the ID card is linked to a bank account. In the application, an e-wallet is also configured that allows easy transfer of funds between the e-wallet and the bank account. Further, the ID card may be used as a debit card for fund withdrawal and the e-wallet may be used to pay for regulatory e-services such as water bills, electricity bills, and road and transportation charges.

Figure 3

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