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PM Narendra Modi to launch release BHIM-Adhar interface enabling digital payments using biometric data in Nagpur

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Prime Minister Narendra Modi. VOA

New Delhi, April 13, 2017: One would now be able to make digital payments without having a mobile phone, Internet connection, debit or credit card as Prime Minister Narendra Modi would on Friday release BHIM-Adhar interface enabling digital payments using biometric data.

The new interface would be launched in Nagpur during the 126th birth anniversary celebrations of Bhim Rao Ambedkar.

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A statement issued by the NITI Aayog said that the BHIM-Adhaar merchant interface would pave the way for making digital payments on the Aadhaar platform using biometric data like thumb imprint on a merchant’s biometric enabled device.

“Any citizen without access to smart phones, Internet, debit or credit cards will be able to transact digitally through the BHIM-Aadhaar platform, thus realizing Ambedkar’s vision of social and financial empowerment for all,” the statement said.

It added that 27 major banks were already on board with around three lakh merchants so that they can start accepting payments using BHIM-Aadhaar.

During the event, Modi would also launch two new initiatives to push digital payments – cash back and referral bonus schemes – with an outlay of Rs 495 crore for a period of six months.

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“Under the referral bonus scheme, both the existing user who refers BHIM (Bharat Interface for Money) and the new user who adopts BHIM would get a cash bonus credited directly to their account.

“Under the cashback scheme, the merchants will get a cashback on every transaction using BHIM,” the statement added.

CEO NITI Aayog Amitabh Kant said that the launch of BHIM-Aadhaar App and the launch of the two schemes – cashback and referral schemes – would provide a “major impetus to the digital payment revolution in India”.

During the event, the Prime Minister would also declare about 75 townships going “less-cash” where the deployment of payment acceptance infrastructure is complete and all the families are covered under training programs.

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“Only those townships which have reported more than 80 per cent of the total number of transactions being done through digital modes of payments during the review period are included in this list,” the government said.

These townships are likely to generate over 1.5 lakh digital transactions every day thereby leading to about 5.5 crore digital transactions in a year, it added.

During the event, Modi would also felicitate the winners of the mega draw of the two major incentive schemes to promote digital payments – Lucky Grahak Yojana for customers and Digidhan Vyapaar Yojana for traders.

Modi had in December 2016 announced lucky draw schemes for people who use digital payment methods including e-banking, mobile banking and e-wallets.

He had announced that apart from regular prizes, one big bumper draw would be held on the occasion of Ambedkar Jayanti in which the winning price would be in crores.

Later same month, he launched BHIM app, an Aadhaar-based mobile payment application to promote and make digital transactions easier. (IANS)

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Mastercard Starts Initiative To Accept Digital Payments

The campaign is aimed at encouraging people to nominate one or more merchants who currently do not accept digital payments

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Mastercard
Payment services major Mastercard on Wednesday launched a nationwide initiative to increase the acceptance and adoption of digital payments among merchants. Pixabay

Payment services major Mastercard on Wednesday launched a nationwide initiative to increase the acceptance and adoption of digital payments among merchants.

The campaign is aimed at encouraging people to nominate one or more merchants who currently do not accept digital payments and Mastercard would work along with the Confederation of All India Traders (CAIT), acquirer banks and fintech companies to support the nominated merchants to deploy digital payments acceptance infrastructure.

“Mastercard along with legendary cricketer Mahendra Singh Dhoni, today announced the launch of a nationwide initiative to accelerate the acceptance and adoption of digital payments. Titled ‘Team Cashless India’, the initiative brings consumers and merchants to the forefront of the digital payments dialogue,” the company said in a statement.

Mastercard
The Initiative of Mastercard brings consumers and merchants to the forefront of the digital payments dialogue. Pixabay

Mastercard will also conduct an outreach program across multiple cities to educate merchants on the benefits of accepting digital payments and to provide a platform for consumers to nominate merchants.

Manasi Narasimhan, Vice President, Marketing and Communications, South Asia, Mastercard said that the initiative would be carried out both in tier-I and tier-II cities and the emphasis will be more on the tier-II cities as the penetration of digital payments has not been as high as the metros.

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She also said that post demonetisation the adoption of digital payment services by both consumers and traders has increased and the the sector is likely to grow further. (IANS)