Prime Minister Modi has taken a step forward in digitization of India on the occasion of the 125th birth anniversary of Baba sahib Bhimrao Ambedkar in Nagpur 0n 14th April, 2017.
Prime Minister Modi launched the BHIM- Aadhaar platform for digital India that is a merchant interface linking the unique identification number to the BHIM-Bharat Interface money mobile app.
The joint venture of BHIM and Aadhaar will enable anyone to pay digitally using their biometric data .User can pay through the finger print scanner to complete the transaction.
Incentive schemes like referral bonus and cash back Scheme will be launched by Prime Minister Modi on Thursday.
By using BHIM pay app, user can simply link their Aadhaar number to their bank account and merchant would download BHIM pay app in their android smart phone and connect it to a biometric reader.
Through referral bonus scheme for customers BHIM adapted user would get a cash bonus directly credited to their accounts.
By using cash back scheme for merchants will get cash back on every transaction using BHIM. Merchants can earn up to Rs 300 per month.
Using BHIM- Aadhaar platform “any Indian citizen without access to smart phone, internet, debit, or credit cars will be able to transact digitally”.
According to the government statement “20 million people have downloaded BHIM app and payments worth Rs 823 Crore have been made.
Around 27 major banks had already tied up with 300,000 merchants for accepting payments using BHIM- Aadhaar patform.