On Friday, India's Prime Minister Narendra Modi launched Bhim-Aadhaar, a merchant interface for the Bhim app that allows Indians to pay digitally at stores using their thumb imprint through a merchants' biometric-enabled device, which could be a smartphone having a reader and running the Bhim app.
Prasad said, "as many as 113 crore Aadhaar cards, 108 crore mobile phones, 50 crore internet users, 35 crore smart phones have been connected under "Digital India". The customer's fingerprint is the password used to authenticate the transaction.
The merchants only need to carry the Aadhaar Pay; whereas, the users just need to have a Aadhaar linked bank account.
How to use Aadhaar Pay? .
Calling the digital platforms for payments as a big reform towards making of a new India and strengthening of economy, Gadkari said that Goods and Services Tax (GST) and digital reforms will increase country's revenue to Rs 28 lakh crore.
Two new incentive schemes for BHIM will also be launched alongside the BHIM Aadhaar viz Cashback and Referral bonus.
Earlier, the PM paid tributes to Dr Babasaheb Ambedkar at Deekshabhoomi, where the Dalit icon and architect of the Constitution embraced Buddhism in 1956 with a large number of followers.
On the occasion of Baba Bhimrao Ambedkar's 125th birth anniversary, PM Modi launched the official BHIM-Aadhaar Pay app, meant for merchants.
The Aadhaar Pay is the advanced version of the prior Aadhaar Enabled Payment System (AEPS), especially useful for merchants.
The NITI Aayog programme at Mankapur will include the launch of BHIM cashback and referral schemes of BHIM Aadhaar, awarding the winners of the Lucky Grahak Yojana and DigiDhan Vyapar Yojana and the bhoomi pujan of the Pradhan Mantri Awas Yojana, AIIMS Nagpur, IIM-Nagpur and IIIT-Nagpur, the release said.
"A series of development projects are going to be inaugurated in Nagpur, which will have a positive impact on people's lives", PM Modi had said in another tweet yesterday.
The app is required to be downloaded only by those who will receive the payment, such as merchants or businesspersons. Seeking to rope in youngsters to promote cashless transactions, Modi said for every person you introduce to the BHIM app, you will get a cash back of R10.
"This DigiDhan movement is a Safai Abhiyaan. There should be hospitals and schools in the neighbourhood", Modi said.
Both schemes will be administered by the Ministry of Electronics and Information Technology (Meity) and implemented by the National Payments Corporation of India (NPCI). If that person makes at least three transfers, then the money Rs.10 will be added to his account.
The platform is meant for use by merchants only. It's really great beginning for the Bhim app.
With a view of achieving 2,500 crore digital transactions during the current fiscal, Modi will announce about 75 townships across as "less-cash townships".
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