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Saturday 15 April 2017

One more step from cashless payment to cardless payment

Prime Minister Narendra Modi on Friday launched BHIM-Aadhar platform in Nadpur on 14-apr-2017. It is a a biometric-based payment system.BHIM-Aadhaar Pay app will allow us to make and get payments through the fingerprint scanner, by authenticating the a user with Aadhaar database.Means if it works well then we would have a cardless ecomony.

BHIM Aadhaar can be used by individuals and retail merchants and not for corporate merchants. To make or receive the payment with Bhim-Aadhar we have below requirements

Customers Requirement

  • Aadhaar number
  • Aadhaar linked bank account

Merchants Requirements

  • Smart Phone with aadhaar Payment App
  • Fingerprint scanner
  • Bank account linked with Aadhaar

Aadhaar Payment App is the  Low-cost solution for Instant payment. Merchants need to buy Fingerprint scanner which comes under rs2000 and MDR is also as low as 0,25% where Credit card charges much more.

This program helps the us to get the commission of Rs 10/- per download. And if you refer BHIM APP download (all mobile phones) and other people performs three transactions, then he/ she also gets Rs 25/-  INR.

PM also started BHIM App Referral Bonus scheme for this pay system. It will be managed by NITI Aayog. It is Rs 10/- per download and usage (who provide refer link) and Rs 25 who do a digital transaction using BHIM App.

Rules & Regulation

  • Rs 10/- commission for per download/ installation.
  • Rs 25/- for the person using BHIM App for transaction who have used a referral code.
  • Scheme duration is from 14 April 2017 to 14 October 2017

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