Prime Minister today launched an Aadhar based mobile payment application called BHIM (Bharat Interface for Money). This is also suggested as a newer version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data.
At the Digi Dhan Mela event in Talkatora stadium in New Delhi, the Prime Minister also awarded the lucky winners of the Lucky Grahak Yojna.
To influence the audience and all Indians watching the show, PM also made exemplified himself by making payment to Khadi using the newly launched BHIM app.
The main purpose behind launching this comprehensive app is to curtail the use of plastic cards and POS machines.
PM Modi also urged people to do atleast five digital transactions starting from 1 st January 2017.
Quite interestingly, the BHIM app derives it’s name from the initials of the famous Indian jurist cum politician, Dr Bhimrao Ambedkar. Very people know that Dr Bhimrao Ambedkar, who gave us the constitution, was a great economist and had even wrote a thesis on Indian Rupee. He is the man who supported the Dalits.
PM assertively said that this app would help the poor and also aided in the transformational journey of the public.
The app can be downloaded from Android app store. It is a great incentive for all the civilians who can now seamlessly perform online transactions using the online portal.
All you have to do is the following:
Register your bank account with BHIM.
Set up a UPI PIN for the bank account.
Your Contact number is your Payment address (PA).
You are ready to start transacting on this app.
As money will be sent through Aadhar cards, scanning a QR code will also enable faster entry of payment address.
Not only this, the app is enabled with English, the universal language as well as Hindi. This will ensure that both youth and old will be able to assess the app very smoothly. It is also suggested that new languages will also be added soon.
Although easy, to avoid any illegal activity, transaction of a minimum of Rs.10000 can be made in a single day. A transaction exceeding Rs.20000 cannot be performed within 24 hours.
Money can sent and received from anyone- customers, friends and family. The interesting feature is that money can be sent to non-UPI enabled bank accounts suing IFSC and MMID.
If this wasn’t enough, this app also allows you to check your bank balance and transactions details quite seamlessly over the app.
