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Will the BHIM-Aadhar app forward the cause of Digital India?

Will the BHIM-Aadhar app forward the cause of Digital India?

By Mohul Ghosh

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 platform was launched last year on December 30th.

Hailing it as an important step towards digitalization, PM Modi has declared that BHIM-Aadhaar Pay app has the power to revolutionise India.

He said, “The day is not far when premises-less banking will become reality, and mobile phones will play the most crucial role in it.”

We had earlier reported on April 14th that BHIM-Aadhaar Pay for merchants would be launched on Ambedkar Jayanti.

Based on a biometric platform, any Aadhaar card holder can now pay to any merchant using his thumb impressions. All he needs to do is match the thumb impressions on a biometric device at the merchant’s location, verify the payment, and it’s done.

This way, Aadhaar Pay and BHIM removes the necessity of smartphone for the buyer, if he needs to make a payment. Only the merchant needs to install the app on their smartphone and link it with a biometric scanning device to accept payment.

IDFC Bank became the first Indian bank to launch Aadhaar-Pay based mobile app for merchants. This app launched by PM Modi is the official app from Govt. of India.

BHIM is based on UPI platform.

We had earlier analysed that NPCI’s Unified Payment Interface has the power to kill mobile wallets in India. And the way mobile wallets based transactions are decreasing, and UPI-based transactions are increasing it is clear that Aadhaar connected UPI-based payment mechanism will be the force to reckon with in future.

Already, 70% of rural population and 85% of merchants have adopted the digital mode of transactions.

Incentives for BHIM App

During the launch, PM Modi also announced referral and incentive scheme to promote BHIM App. Under the scheme, every referral can get Rs 10 on a successful download of the app, and the referred person will also get a bonus of Rs 10.

PM Modi said, “If you refer 20 people a day, you can earn Rs 200.”

A special cash-back scheme has also been launched for merchants, who use BHIM-Aadhaar Pay app.

Interestingly, PM Modi is also linking the issue of corruption with digitalization drive. He said that higher usage of digital currency will weed out corruption from the society.

He said, “This DigiDhan movement is a safai abhiyaan (cleanliness movement). It is to fight the menace of corruption.”

Mohul Ghosh keenly observes the nuances of Indian startup world; and tries to demystify the secrets behind technology, marketing, mobiles and the internet.

This article was originally published on Trak.

Featured Image Courtesy: The New Indian Express

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