Commemorating the 126th birth anniversary of Dr Bhim Rao Ambedkar, Prime Minister Narendra Modi on April 14, 2017, launched an Aadhaar-based mobile payment app, BHIM Aadhaar, for traders in Nagpur. Apart from the launch of BHIM-Aadhaar app, the prime minister also announced a cashback and a referral bonus schemes for the Bharat Interface for Money (BHIM) app. He also declared 75 towns, where more than 80 percent of the transaction have been performed digitally, ‘less-cash township’.
Here are some things that you should know about the BHIM-Aadhaar app:
About the app
BHIM-Aadhaar is the merchant interface of the BHIM App by the government of India. It has been developed by National Payments Corporation of India (NPCI) and is based on the Unified Payment Interface (UPI). The new app will enable every citizen to make payments digitally using their biometric data like their fingerprint on the merchants’ biometric-enabled device. According to a release by the Ministry of Information and Broadcast, ’27 major banks are now on board with 3 lakh merchants so that they can start accepting payments using BHIM Aadhaar’ app.
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Aim
The aim of launching another app is to facilitate digital payments in the country. “Any citizen without access to smartphones, the internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform, thus realising Dr Ambedkar’s vision of social and financial empowerment for all,” the release by InB Ministry added.
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Where it all began
It all began on December 30, 2016, when PM Modi launched the BHIM app to facilitate e-transactions in the country. At the time of the launch, the app allowed the users to send and receive money, check their account balance and create a custom payment address for digital payments. The app was launched in the post-demonetisation era when the country was facing a severe cash crunch. Shortly after its launch, the app created a new record by registering 1.9 crore downloads in just four months of its launch.
The new however is primarily targeted at the merchants and would enable them to receive payments digitally.
