Prime Minister Narendra Modi has launched BHIM Aadhaar interface - a biometric-based payment system in Nagpur today.
Launched on the occasion of Ambedkar Jayanti, it will allow users to make payments using just their fingerprint.
"BHIM-Aadhaar, the merchant interface of the BHIM App, to be launched by the prime minister will pave the way for making digital payments by using the Aadhaar platform," an official statement by NITI Aayog said on Thursday.
"This will enable every Indian citizen to pay digitally using their biometric data like their thumb imprint on a merchants' biometric-enabled device which could be smartphone having a biometric reader," it added. Already, 27 major banks are now on board with 3 lakh merchants so that they can start accepting payments using BHIM Aadhaar, it pointed out.
PM has felicitated the winners of the Mega draw of the two major incentive schemes to promote digital payments, viz. Lucky Grahak Yojana and Digidhan Vyapaar Yojana and these initiatives would further promote the digital movement that the country embarked upon and reinforce the vision of Baba Saheb for social empowerment of all through financial inclusion.
Further, Modi launched two new incentive schemes for the BHIM - Cashback and Referral bonus - with an outlay of Rs. 495 crore for a period of six months to ensure that the culture of digital payments permeates down to the grassroots.
Under the Referral bonus scheme, both the existing user who refers BHIM and the new user who adopts BHIM would get a cash bonus credited directly to their account and under the Cashback scheme, the merchants will get a cashback on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI.
CEO NITI Aayog Amitabh Kant said that the launch of BHIM-Aadhaar App and the launch of the two schemes - Cash back and referral schemes by the Prime Minister will provide a major impetus to the digital payment revolution in India.