The Prime Minister Narendra Modi today launches BHIM App an Aadhar based mobile application. BHIM (Bharat Interface for Money) is rebranded version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data). The Prime Minister launches Aadhar based mobile payment application BHIM App at Digi Dhan Vyapar Mela in Talkatora stadium New Delhi.
PM Modi also felicitated the first set of 7,229 winners of Digi Dhan – Lucky Draw under which daily reward of Rs 1,000 will be given to 15,000 lucky consumers for a period of 100 days.
This new mobile payment BHIM App Bharat Interface for Money’ was named in the honour of Bhimrao Ambedkar, Dr Babasaheb Ambedkar, the man who gave us our constitution of the country.
The BHIM App is launched to facilitate the online transaction and the online payment system in the country. This App will eliminate the fee payments for service providers like card companies such as master card or visa. These cards have been a stumbling block in merchants switching to digital payments making it affordable to even merchants of rural and remote areas.
To take the benefit of BHIM App the merchants have to download the Aadhar Cashless merchant App on their smartphones connected to bio metric reader which is currently of Rs. 2000. Then the customer will need his or her Aadhar Card number into BHIM App, select the bank through which the transaction will take the place and the biometric scan will work as a password for the transaction.