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PM Modi launches BHIM app for digital transactions, finger print payment to come soon - GSTV ENGLISH - Latest English News, India, World, Sports, Bollywood, Business

PM Modi launches BHIM app for digital transactions, finger print payment to come soon

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To promote and make digital transactions easier, Prime Minister Narendra Modi today launched Aadhaar-based mobile app BHIM, a digital transaction facility which he called his government's gift to the nation on the new year.

The new BHIM app that PM launched, he said, will soon work on your thumbprint. The Prime Minister feels that BHIM is the best vision for 2017.

"I am giving the nation my gift for the new year in the form of BHIM," Modi said at the Digi Dhan Mela at New Delhi's Talkatora Stadium.

The app can be downloaded from Android app store.

The new app expected to minimise the role of plastic cards and the point of sale machines once believed to be essential for a less cash society.

The app would eliminate the fee payments for service providers like card companies such as Mastercard or Visa, which has been a stumbling block in merchants switching to digital payments making it affordable to even merchants in remote villages, said people familiar with the development. All that it needs is an Android phone with the merchant.

Merchants need to download the Aadhaar cashless merchant app on their smartphones connected to a biometric reader, which is currently available for Rs 2,000. The customer will then feed his or her Aadhar number into the app, select the bank through which the transaction will take place, and the biometric scan will work as a password for the transaction to be authenticated.

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