NEW DELHI– Finance minister Arun Jaitley presented the Union Budget for the fiscal year 2017-18 on Wednesday. Finance minister Arun Jaitley on Wednesday declared 2 new schemes to boost the adoption of BHIM (Bharat Interface for Money) digital payment app.
Among the promotional schemes that the govt. proposes to launch ar referral payments for people and money back for merchants who accept payments from BHIM. Finance minister Arun Jaitley had conjointly announced as a part of the 2017 Union Budget presentation that a merchant version of the applying will also launched shortly.
Arun Jaitely : New Incentives To Boost BHIM App Adoption:
“Nearly 125 lakh people have adopted the BHIM app. Government can launch 2 new schemes a referral bonus for consumers and a cash-back scheme for merchants. To promote the use of BHIM,” Jaitely said while presenting the Union Budget 2017-18 within the Lok Sabha.
Launched on December 30, the Unified Payments Interface (UPI)-based BHIM app is presently available on Google‘s Play Store.
“From setting up a separate payments regulatory body to providing cash-backs to BHIM merchants are smart initiatives to more boost the digital payments landscape that may lead to financial inclusion within the country” Saket Modi, CEO and co-founder of Lucideus. The IT risk assessment company that has security for BHIM, told IANS.
“Setting up the Indian computer Emergency Response Team (CERT-In) for the financial sector was a need of the hour and that we are happy to see it addressed by the finance minister. We currently hope the execution happens in a timely and efficient manner for all the mentioned initiatives,” Modi added.
The BHIM App has updated in such a way that it currently allows for Aadhaar-enabled payments. However, more updates including the launch of an ios version of the app will also be available shortly.
Announcing the updates, A. P. Hota, MD & CEO, NPCI said in an earlier statement, “We are pleased to launch the new upgrade for all BHIM users. The new version offers enhanced security measures, superior user experience that makes digital transactions much more safe and secure. We believe this can lead to higher acceptance among customers as well as merchants. At NPCI we remain committed to customer-centric approach by constantly innovating and improvising our services.”
The BHIM app was launched on December 30 by Prime Minister Narendra Modi to promote digital transactions using the Unified Payments Interface (UPI). The system is a bank-to-bank fund transfer system backed by smartphones and net connections.
So take the benefits of this BHIM App.