BHIM APP GETS PM PUSH WITH TWO SCHEMES

Nagpur, April 14: Giving a further push to the Centre’s efforts to create a less-cash system, Prime Minister Narendra Modi launched two schemes on Friday.

The BHIM-Aadhaar Pay app, a biometric-based payment system will make payment through thumb impression a reality. He also launched incentive schemes for the BHIM — cashback and referral bonus — with an outlay of `495 crore.

Mumbai, April 14: The National Payments Corporation of India on Friday announced the launch of mobile application for Aadhaar-based payments through Bharat Interface for Money (BHIM) app for merchants.

The service was launched by the Prime Minister in Nagpur on Friday.

The new service will allow customers to make purchases using their Aadhaar number linked with their bank account.

The transaction will require customer’s fingerprint for authentication.

“This will directly cater to about 40 crore bank account customers spread across the country whose account is linked with Aadhaar. It is a huge opportunity for enabling digital transactions as about 99 per cent of adult population is now aadhaar enabled,” NPCI managing director and CEO, A.P. Hota said.

Currently, over 30 banks are participating on BHIM Aadhaar and more member banks shall be on-board, NPCI said.

BHIM Aadhaar would be applicable for retail merchants only and not for corporate merchants, it said.

BHIM is a smartphone app based on Unified Payments Interface that allows simple, easy and quick payment transactions. The app is now available on Google play store and iOS, NPCI said. — PTI