BHIM-Aadhaar payment app will boost digital payments revolution: PM Modi

Prime Minister Narendra Modi on Friday launched the BHIM-Aadhaar digital payments platform to boost the digital payments revolution in the country.

Prime Minister Modi said, "The Bhim app will give more power to the poor. Soon the poor of the country will chant Digidhan, Nijidhan. Your mobile phone will be your bank."

The Prime Minister further said that the world will study BHIM app's success.

BHIM-Aadhaar, the merchant interface of the BHIM App will pave the way for digital payments by using the Aadhaar platform enabling each Indian to pay digitally using their biometric data on a merchant's biometric-enabled device like a SmartPhone with a biometric reader.

Prime Minister Modi launched two new incentive schemes for the BHIM-Cashback and Referral Bonus with an outlay of Rs. 495 crore for a six-month period to ensure permeating digital payments culture to the grassroots.

Under the Referral Bonus Scheme, both the existing user who refers BHIM and the new user who adopts it would get a cash bonus credited directly to their accounts. Per referral, the government will deposit Rs. 10 to the account holder. The scheme will run till October 14.

Under the Cash back scheme, the merchants will get a cash back on every transaction using BHIM.

Prime Minister Modi also felicitated some of the winners of the Mega Draw.

Joining the culmination of the DigiDhan Mela, Prime Minister Modi presented awards to the mega draw winners of Lucky Grahak Yojna and DigiDhan Vyapar Yojna.

Rs. one crore, 50 lakh and 25 lakh mega rewards were announced to small consumers for using Digital Payments Lucky Grahak Yojana.

Daughter of small Kiran store owner from Latur District in Maharashtra, Shraddha received Rs. one crore Mega reward by Prime Minister Modi.