Your Thumb Is Your Bank Now
Aadhar card is not just an identity now, but a brand new way for you to pay your bills or money transferring through an app ‘Bharat Interface for Money’; In short, Your Thumb Is Your Bank Now.May be, things are not clear to you, so for your guidance we have prepaid this article and discussed here how your Aadhar identity thumb could be your bank or a way to take, transfer or paying money. Read here about newest Narendra Modi’s Aadhaar project and check out these 8 Interesting Things about BHIM APP.
As the importance and need of Aadhaar projects are introduced every time and have hugely increased, this in future it will not only be useful as your identity but also mandatory to avail benefits of various government schemes and services. Here, Prime Minister Narendra Modi has come up with a remedy for problem of transferring or paying money, because not all knows way of using Paytm and several others. On Last Friday 14th of Aprill, PM of India introduced an Aadhaar-based mobile payment application named as “Bharat Interface for Money” to promote and make digital transactions easier at Digi Dhan Mela.
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Bharat Interface for Money / BHIM
Aadhaar-based biometric payment system is now available for merchants who are customers of 27 banks in the city. Banks presented the biometric reader machines to select merchants just as the Central government launched the BHIM-Aadhaar interface nationally on Friday. Each bank presented five merchants each with a biometric reader device.
With this Aadhaar-based mobile payment ‘BHIM app’ one requires his/her thumb impression to pay for any case. As you remember when illiterate people use to signature with theirs angutha but now those are no more angutha - chaaps. At the DigiDhan Mela event organized to celebrate the success of digital currency push, last Friday PM Modi Ji stated all this and launched BHIM App.
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BHIM application is a new-fangled version of UPI (Unified Payment Interface) and also an updated form of USSD (Unstructured Supplementary Service Data). As a buyer or customer you can connect the biometric device to your phones, Authentication of payments will be done by just your Aadhaar number and fingerprint of thumb. People can also use the banks’ app transactions. The banking feature used for public distribution services will operate on the accessible Aadhaar Enabled Payment System (AEPS) service.
8 Interesting Things About BHIM APP
Here is all you need to know about the app:
#1 BHIM; Bharat Interface for Money is an application that is Aadhaar-based biometric payment system. It is a new updated form or so called version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data).
#2 Way To Pay with This App; as a buyer your payments will be done by just your Aadhaar number and fingerprint of thumb, yepp a thumb impression of your hand is just enough to operate it.
#3 No Need Of Internet Connection: whther you cell phones is a smartphone or not OR it’s @cost of Rs 1,000 up to Rs. 20, 220, this BHIM app can be used in any phones. Even, you don’t need internet of WIFI for this, but only needs a thumb.
#4 App Introduced Under; launched at auspicious event of 'DigiDhan Vyapar Yojana' and as per 'Lucky Grahak Yojana' it were a Chrismas gift to the nation as PM said that; over 100 days, several prizes of Rs 1,000 will be given to people through lucky draws.
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#5 Here’s How It Works: One can download Bharat Interface for Money app from Playstore too, after get it downloaded firstly register your bank account with app. Thereafter you need to set a UPI PIN for the bank account and lastly your mobile number is your payment address (PA), and now you can start transacting.
#6 Send / Receive Money: Send money to or receive money from friends, family and customers through a mobile number or payment address. Money can also be sent to non UPI supported banks using IFSC and MMID. You can also collect money by sending a request and reverse payments if required.
#7 QR Code: You can scan a QR code for faster entry of payment addresses. Merchants can easily print their QR Code for display.
#8 Transaction limits: one can do transaction of maximum Rs. 10,000 and Rs. 20,000 within 24 hours. Remember, Language which will be supported is Hindi and English up till now. But soon more languages will be updated…
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BHIM APP | Supporting Banks
Banks that are collaborated with Modi ji’s schemes are;
- Allahabad Bank, Andhra Bank,
- Axis Bank, Bank of Baroda,
- Bank of India, Bank of Maharashtra,
- Canara Bank, Catholic Syrian Bank,
- Central Bank of India, DCB Bank, Dena Bank,
- Federal Bank, HDFC Bank, ICICI Bank,
- IDBI Bank, IDFC Bank, Indian Bank,
- Indian Overseas Bank, IndusInd Bank,
- Karnataka Bank, Karur Vysya Bank,
- Kotak Mahindra Bank, Oriental Bank of Commerce,
- Punjab National Bank, RBL Bank,
- South Indian Bank, Standard Chartered Bank, etc
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Hope you find this page useful, for more updates regarding BHIM APP or t explore more about this Aadhaar-based mobile payment app which is a new updates version of Unified Payment Interface, we suggest you to keep visiting this page.