PM Modi launches BHIM Aadhaar Pay, mobile without digital payment
BHIM Aadhaar Pay – PM Modi has launched a special payment system for digital transactions in Nagpur. This biometric-based payment system is especially for merchants, so shopping is easy. Today is Ambedkar Jayanti and on this occasion, this Bhima based service has been started.
Know how this works:
Thumb impressions can be made for payments.
What is the basis: Aadhaar Pay is a base payment system created for the merchant. This has been specially made for those who do not have debit cards, mobile wallet, and mobile phones.
Aadhaar Pay will be with the merchants only:
There is an app on the base which will be just for the merchant. Users only need to link their base number and mobile number to your bank account, debit or credit card.
This will be Aadhaar Pay Use: Salesmen will be able to download this app free from the Play Store. After that, they have to register it through their fingerprint and Aadhaar card.
What To Do To Pay Users
Merchants will download this app from the Play Store and after that, the customers will be able to get online payment. The money from the customer’s bank account will go directly to the merchant’s bank account. For this, the customer can be asked for his base number and the option to select which account to transfer can be given.
What will happen to the customers: No credit or debit card will be needed to make payment through the base pay. According to reports, like other payment applications and POS machines, it will not need the internet.
Cashback will be given to the merchants: It is being said that under this scheme, the cashback will be given to the merchants. More than this, merchants will use it.
Two new incentive schemes have also been started for this. This includes BHIM-Cashback and Referral Bonuses.
Significantly, IDFC Bank has already launched its Aadhaar Pay app. According to one condition, any citizen can do digital transactions through smartphones, the internet, debit or credit card through Bhima base platform.
27 banks have already joined this platform, besides about 3 lakh merchants have come up with it. Now, these vendors will start acquiring payments through Aadhaar Pay. The government has asked more and more banks to get involved with it.
Significantly, IDFC Bank has already launched its Aadhaar Pay app. According to one condition, any citizen can do digital transactions through smartphones, internet, debit or credit card through Bhima base platform.