Modi To Launch BHIM-Aadhaar Facility For Merchants At Nagpur

April 14, 2017 12:51
Modi To Launch BHIM-Aadhaar Facility For Merchants At Nagpur

Prime Minister Narendra Modi, today, has unveiled his plans, to launch BHIM-Aadhaar facility, the merchant interface of the BHIM application, at Nagpur.

This facility, exclusively for merchants, will facilitate digital payments, and unveil cash back and referral bonus schemes for the BHIM application.

An official statement, said, the announcement will be made by the PM, at a function, to mark the eve of 126th birth anniversary of Dr Bhim Rao Ambedkar. The BHIM-Aadhaar, will pave the way, for making digital transactions, by using the Aadhaar platform.

This new platform, will enable every Indian citizen, to pay their transactions digitally, using their biometric data like their thumb imprint on a merchant’s biometric enabled device, which could be a smartphone having a biometric reader.

BHIM Aadhaar

The statement pointed out that, already 27 major banks, are now on board, with 3 lakh merchants, so that they can start accepting payments using BHIM Aadhaar.To promote digital payment, Modi will also  felicitate the winners, for embracing digital payments, of the two major incentive schemes under, Lucky Grahak Yojana and Digidhan Vyapaar Yojana, of Rs 1 crore, 50 lakh, 25 lakh awards.

Also, two new incentive schemes, will be launched by the PM, for the BHIM cashback and referral bonus schemes.

Under the cashback and referral bonus schemes, incentives amounting to Rs 495 crore will be given to merchants for accepting payments through BHIM and existing users for referring it to others.

National Institution for Transforming India (NITI) Aayog CEO Amitabh Kant, said, the launch of the BHIM-aadhaar application, along with the two new schemes, i.e. cash back and referral schemes will provide a major impetus to the digital payment revolution in India.

BHIM Aadhaar

Under the NITI Aayog's two incentive schemes, Lucky Grahak Yojana and DigiDhan Vyapar Yojan, a prize money of Rs 258 crore, was won by 16 lakh individuals.

The PM aims to achieve a target of 2500 crore digital transactions, during the current financial year, and will also  announce about 75 townships spread all over India as less-cash townships. The townships selected for the launch have been subjected to independent third party assessment by Price Waterhouse Coopers (PWC), and only those townships, which have done more than 80% of the total number of transactions in the township, during the review period, are included in this list.  

These townships are likely to generate over 1.5 lakh digital transactions every day, thereby leading to about 5.5 crore digital transactions in a year, according to the statement.

The BHIM-app since its launch in December, 2016, has created a new world record, by registering 1.9 crore downloads in just four months.

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