On the 126th birth ceremony of B. R. Ambedkar Prime Minister Narendra Modi made a new step towards Digital India. On this very occasion in Nagpur Modi has launched Aadhaar Pay using BHIM App. This app will allow consumers to pay with their biometric data, linked to their Aadhaar. This BHIM App is expected to reconstruct the way of digital marketing, particularly in rural India. This new payment method is named as the BHIM Aadhaar Sewa by the government.


About Aadhaar Pay BHIM App


The Bharat Interface for Money (BHIM) app was introduced by the Prime Minister in the last week of last December, 2016 enabling quick, protected, and trustworthy cashless payments through mobile phones (payment can be completed even with basic feature phones as well). PM Modi called the BHIM app “a game changer” in the Nagpur event on last Friday and also stated the payment solution a global development. Initially, nearly, 30 banks, including State Bank of India, Punjab National Bank, ICICI Bank and HDFC Bank and other top banks in India have adopted BHIM Aadhaar or the Aadhaar Pay system. More interestingly, this Aadhaar Pay comes with an incentive for the vendors as well as the customers’ get cash back and referral bonus of Rs 10/- on BHIM App.


This payment method is unique and genuine therefore, several countries are looking to looking to imitate the structure. PM Modi has urged the Law and IT Minister Ravi Shankar Prasad to get this payment coordination patented and it will rapidly become the hub of economic movements.


As said by Ravi Shankar Prasad the BHIM, at present, has nearly 2 crore people on the platform, with transactions worth Rs 830 crore almost.  “Aadhaar Pay says that the customer doesn’t need to have a smartphone. It will be related to your Aadhaar, and the retailer will have a smartphone.”


How Does BHIM Works


Below is the guide regarding, how does BHIM works stated. Let’s see –

  • Firstly, to accept payments, a vendor needs to download and register on the app first. Then it follows the approval of the fingerprint of the merchant.


  • BHIM app is linked to a biometric scanner that can validate the customer’s biometrics.


  • While paying using BHIM App the buyers or customers need enter their Aadhaar details followed by selecting the particular bank.


  • BHIM or the Aadhaar Pay app allows the merchants accept ‘card’ payments but in cashless, cardless and pin-less payment method.


A Cheaper Option- Step towards Digitization


The entire setup of the newly launched payment method reduces the cost radically accepting digital payments. On average, the cost of buying a PoS machine is Rs 8,000 in India, with a monthly cost charged by the network bank involved in payment. In contrast, the cost of a biometric thumb scanner is only Rs 2,000 in India. Therefore, the initiative is not only helpful for payment system or reducing expenses but also helps in tracking the transaction history of individuals, and essentially, control black money by conveying in financial lucidity to the system.

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