New Delhi: Prime Minister Narendra Modi launched BHIM-Aadhaar platform for merchants to facilitate digital payments and also unveiled cash back and referral bonus schemes for the BHIM app at Nagpur on Friday.
Here are 7 things you want to know about this digital payment platform
What is BHIM-Aadhaar Pay app?
BHIM-Aadhaar Pay app is the merchant interface of the BHIM App that allows for making digital payments by using the Aadhaar platform.
Who can pay through BHIM-Aadhaar Pay app?
Every Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchants' biometric enabled device which could be smartphone having a biometric reader.
How is the BHIM-Aadhaar Pay app supported?
Already, 27 major banks are now on board with 3 lakh merchants so that they can start accepting payments using BHIM Aadhaar
How does BHIM-Aadhaar Pay app work?
The app needs to be carried by merchants only. The merchant has to download the app on a smartphone, connect the app to his bank account and link the phone to a biometric scan machine.
How to make payment through BHIM-Aadhaar Pay app?
In order to make payment, the customer will only have to give his fingerprint. However, the customer's bank account must be linked with his/her Aadhaar.
What is the pre-requisite of BHIM-Aadhaar Pay app?
Customers do not need a debit card or credit card for payments through Aadhaar Pay. The pay app also does not require any internet connection.
How much will customers be charged for BHIM-Aadhaar Pay app?
Aadhaar Pay would not charge Merchant Discount Rate (MDR). MDR is the charge levied on debit card transaction. It is paid by the merchants to a bank merchant and usually the merchants pass on the charges to the customers.