- Enroute to the digital payments gaining the proportions of a mass movement, the Prime Minister Narendra Modi launched a series of initiatives on the 126th birth anniversary of Dr. Bhim Rao Ambedkar in Nagpur today.
- He launched the BHIM Aadhaar platform for merchants, Cash back and Referral bonus schemes for BHIM and declared about 75 townships going less-cash.
- BHIM-Aadhaar, the merchant interface of the BHIM App, will pave the way for making digital payments by using the Aadhaar platform.
- Any Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchants’ biometric enabled device which could be smart phone having a biometric reader.
- Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform.
- Under the Cashback scheme the merchants will get a cash back on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI.
Source: PIB