BHIM app already has over 14 million registrations, says Ravi Shankar Prasad

Digital payments are booming in India currently, thanks to Demonetization.

    In an attempt to promote the digital payments in India, Prime Minister Narendra Modi had introduced the BHIM (Bharat Interface for Money) app late last year. And now, just after a month of its introduction, it has seen more than 14 million registrations.

    BHIM app already has over 14 million registrations, says IT Minister

    IT Minister Ravi Shankar Prasad said that "The recently launched BHIM app by the government of India will unleash the power of mobile phones for digital payments and financial inclusion. So far, over 140 lakh people have adopted the BHIM app."

    Mr. Prasad had also stated that the government would be launching two new schemes in the form of referral bonus (for individuals) and cash-back scheme (for merchants) shortly to promote the usage of the app further.

    SEE ALSO: Jio users can schedule movie and music downloads at night on JioMusic and JioCinema

    Also, Aadhaar Pay - a merchant version of Aadhaar Enabled Payment System will also be introduced very soon to help people who don't have access to debit cards, mobile wallets or smartphones.

    Mr. Prasad added that "Digital economy aims for speed, accountability, and transparency. We are also creating an eco-system to make India a global hub for electronics manufacturing. Over 250 investment proposals for electronics manufacturing have been received in the last two years, totaling an investment of Rs 1.26 lakh crore."

    Click Here for New Smartphones Best Online Deals

    Read More About: bhim windows news android iOS mobiles

    Stay updated with latest technology news & gadget reviews - Gizbot

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more