Aadhaar-based payments through BHIM app for merchants launched
- The new service will allow customers to make purchases using their Aadhaar number linked with their bank account.
- The transaction will require customer's fingerprint for authentication.
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The National Payments Corporation of India announced the launch of a mobile application for Aadhaar-based payments through Bharat Interface for Money (BHIM) app for merchants on April 14.The service was launched by Prime Minister Narendra Modi in Nagpur.
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The new service will allow customers to make purchases using their Aadhaar number linked with their bank account. The transaction will require customer's fingerprint for authentication.
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"This will directly cater to about 40 crore bank account customers spread across the country whose account is linked with Aadhaar. It is a huge opportunity for enabling digital transactions as about 99 per cent of the adult population is now aadhaar enabled," NPCI managing director and CEO, A P Hota said.
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Currently, over 30 banks are participating on BHIM Aadhaar and more member banks shall be on-board, NPCI said. BHIM Aadhaar would be applicable for retail merchants only and not for corporate merchants, it said.
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BHIM is a smart mobile phone based app based on Unified Payments Interface (UPI) that allows simple, easy and quick payment transactions using UPI.
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The app is now available on google play store and iOS, NPCI said.Â
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