Narendra Modi Launches BHIM Payments App to Simplify Digital Transactions

After demonetization we eagerly waited for next move by our beloved prime minister Shri. Narendra Modi in process of curbing black money and to increase cashless transactions , he launched BHIM stands for BHARAT INTERFACE FOR MONEY by paying tributes to Shri. Bhim Rao Ambedkar.
This app can do miracle in online payments and works even without internet - Shri.Narendra Modi 

Let's see the features and how it works.

  1.  It's linked with mobile number. Whenever you want to pay, just enter merchant mobile number, enter amount and hit send. amount will be credited automatically to his bank account. 
  2. Similar to Paytm , merchant can generate his own QR code to easier payments for customers. When customer scans QR code, it will retrieve the merchant details and customer can begin the transaction. 
  3. Customer/merchants doesn't require to use smartphone and even a basic mobile works use BHIM just dial *99# , it will show you the menu for desired options like money transfer, history, balance checking etc. 
  4. Now upto 10,000/transaction is possible and max can do upto 20,000/day in a day. 
  5. This app works as a debit card and so no need to load any money into wallet. so there is no worry about failure in sending to bank where as Paytm faced several issues in money transfer to bank. 
  6. All major banks supporting this app like SBI , HDFC , ICICI , AXIS , etc.
  1. No frill payment
  2. No issues of internet connectivity
  3. No need to worry about language of interface
  4. Smartphone penetration is no more a issue
  5. Data is more secured with the government rather any private player
I would just say, this is the best move taken by the government to promote digital payments in India, without causing much hassles to the major illiterate population.

How will it work?

Merchants will have to download the Aadhar cashless merchant app on their smart phones, connected to a biometric readers, which will be available for Rs 2000. The customer will put their Aadhaar number into the app, select the specified bank and the biometric scan will work as the password. 

As of now this app available only on PlayStore and very soon for IOS. Download BHIM Payments App

No comments:

Post a Comment