New Delhi: PM Modi launched BHIM-Aadhaar Pay app on Friday in order to push digital economy to more people of India. This app will allow your payment through thumb impression and it doesn’t need internet access at all. Government has also suggested this system to African leaders and India will help them in.
Since Aadhaar Card is the most important document in soft-copy as well as hard-copy, a government is making it centralised to carry out major transaction and documentation across the country.
PM gave credit to whole IT team of nation under the leadership of Ravi Shankar Prasad, making the ‘Digital India’ ecosystem more robust and reliable. This technology will soon get patented.
“I congratulate Prasad and his team for their efforts in studying and analysing the best of technologies and innovations that took place worldwide and bringing in the paramount technology to provide a robust, secure and user-friendly digital ecosystem for citizens,” Modi said.
“Bhim-Aadhaar is going to be a case study for reputed universities across the globe in the days to come and will be seen as the foundation for an economic revolution in the world. I urge Ravi Shankar Prasad to get this initiative patented, as the entire world is looking forward to replicate this model in their respective countries,” the PM said at a function in Nagpur.
Prasad said the app will boost “transparency and honesty”. “The essence and the idea behind the PM’s ‘Digital India’ initiative is that if we send Rs 100 from Delhi, then it must fully reach the poor beneficiary. That is the reason some 28 crore bank accounts have been opened for the poor in the last two years,” the minister added.
Including this, government is also offering cashback and referral bonus for carrying out payment with this app, projecting Rs 495 crore for six months. He said for every person introduced to the Bhim app, one will get a cashback of Rs 10. “If you refer 20 persons a day, you can earn Rs 200,” he added.
The merchant interface of this app will utilise biometric data, fingerprint or iris scanner for the security parameters while making payment. No need for users to have access to smart phones, internet, debit or credit cards to make digital payment to a merchant.
Already, 27 major banks are on board along with 7.15 lakh merchants who will start accepting payments using Bhim-Aadhaar.