In a major boost towards cashless society, Prime Minister Narendra Modi launched a new Android mobile app named BHIM. Dubbed as Bharat Interface for Money, the app is an Aadhaar based mobile payment application. Technically, the BHIM app is a refreshed version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data).
During the launch event held at the Digi Dhan Mela event in Talkatora stadium in New Delhi, Modi also felicitated winners of Lucky Grahak Yojana. Moreover, Modi himself made a transaction for a Khadi purchase using the Bhim mobile application.
According to sources, the BHIM app will eliminate the role of plastic cards and the point of sale machines. Till today, PoS machines were considered the sole entry point for merchants. Going forward, they can make use of the new Bhim app to accept payments from customers.
The big advantage of the Bhim app is that there is no service charge involved for doing business. Hence, traders in remote villages will be able to make use of the app easily without worrying. They money customers pay to them is their own money without any service fees. The only requirement is to own an Android smartphone.
To work with Bhim app, the merchants should download the app from Google Play Store. The smartphones are connected to a biometric reader priced at Rs. 2000. When a customer performs a transaction, they will provide the Aadhaar number and select the bank through which the transaction will take place.
As far as authentication is concerned, the biometric scan will work as a password. We installed the app and found that it prompts to verify mobile number similar to that of WhatsApp.
Commenting on the development, Unique Identification Authority of India (UIDAI) CEO Ajay Bhushan Pandey disclosed that this app can be used by any person to transact without any need for a phone. In case of Paytm and other similar app, both merchant and customer require smartphone. In the case of Bhim app, a customer can remit payment even without a phone.
Speaking on the occassion amid loud applause, PM Modi said that the Bhim app will create revolution in India. The launch of Bhim app is a step in right direction since it will simplify acceptance of digital payments by merchants.
If you are a merchant or trader, you should download Bhim app and experience the simplicity of the road towards acheiving cashless society.
more recommended stories
LG X4+ with Snapdragon 425 launched: Everything you want to know
LG has launched the much-awaited LG.
Nokia expected to have a big bash at MWC 2018
HMD Global is gearing up to.
Fitbit Ionic Smartwatch, Aria 2 Smart Scale, Flyer Wireless Headphone Launched: All you need to know
Fitbit has announced the launch of.
Xiaomi devices gets better with MIUI 9 – Here’s the complete list
Xiaomi has announced that around 40.
Google unveils Cloud AutoML to simplify image processing via AI
Google has launched a user-friendly AI-enabled.
Star India Reimagines VIVO IPL 2018 With Virtual Reality
Star India is gearing up to.