Aadhaar-enabled payment system in 2 weeks.
Prime Minister Narendra Modi addressing the gathering at the DigiDhan Mela in New Delhi on Friday. (Photo: PTI)
New Delhi: Prime Minister Narendra Modi announced the launch of an Aadhaar-linked biometric payment app, BHIM, in two weeks to further push cashless transactions even as his 50-day demonetisation drive ended on Friday.
“There was a time when illiterate persons were ridiculed as ‘angootha chhap’. Times have changed, now your thumb will be your bank, identity and business,” he said.
BHIM or Bharat Interface for Money, and named after Dr Bhimrao Ambedkar, is an application both for smart and feature phones. It needs just a thumb impression, and no Internet. Developed by the National Payment Corporation of India, BHIM is supported by a host of banks, and could affect several mobile- and e-payment applications.
( Source : Deccan Chronicle with agency inputs )
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