Introducing BHIM - the Digital Payment app for a unified India
'Digital wallet, e-wallet, e-payment and now thumb banking'
BHIM is a biometric payment system app that uses Aadhar platform, and is based on Unified Payment Interface (UPI) to facilitate e-payments directly through bank. It was launched to stress on the importance of technology and digital transactions. It can be used on all mobile devices, be it a smartphone or a feature phone with or without internet connection. The new indigenously developed payment app 'BHIM' (Bharat Interface for Money) has been named after Bhim Rao Ambedkar. BHIM is aimed to curb black money system and to create equality in the society.
The payments through the new system (BHIM App) can be made by just a thumb impression after the bank account is linked with Aadhaar gateway. The technology through BHIM will empower poorest of the poor, small business and the marginalised section.
The new app is expected to minimise the role of plastic cards and point of sale machines. The app will eliminate fee payments for service providers like MasterCard and Visa, which has been a block in people switching to digital payments.
The app can be used to send and receive money through smartphones. Money can also be sent to non UPI supported banks. Bank balance can also be checked through the app. Currently Hindi and English are supported in the app, with more languages coming soon. Indicating that the e-wallet app will feature fingerprint verification in future, "Only thumb will be needed to make a payment. Thumb will be your bank now".
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