After demonetising Rs 1000 and Rs 500 currency notes, PM Modi is now extensively promoting plastic money to make payments. On Tuesday, Modi posted a series of tweets explaining five convenient ways to make payment digitally. On Wednesday, Modi's cabinet ministers, celebrities and business tycoons like Chanda Kochhar, Kiran Mazumdar Shaw and many others were retweeting PM Modi on his new found love for plastic money. #IPAYDigitally is trending on social site on Wednesday.
डिजिटल पेमेन्ट...मुमकिन है! https://t.co/sguSsy6IYg— Narendra Modi (@narendramodi) November 30, 2016
Prime Minister Modi had clearly stated his 'Mann ki Baat' when he made a pitch for a cashless economy during his last address to the nation in the midst of demonetisation drive.
Modi has chosen the social media platforms to aggressively push his agenda for use of plastic money in all transaction. The Prime Minister is educating his followers on twitter on how to use plastic money, suggesting apps that can come in handy for cashless transactions post demonetisation.
Here are mode of digital payments that PM is supporting extensively on social media.
Unified Payments Interface (UPI)
It is a mobile mode of transaction.
Steps to use UPI
- Register mobile numbers at Bank/ATM
- Download UPI app on mobile handset
- Create your unique ID
- Set your UPI pin
- Once you set you UPI Pin, you can easy transact money to anywhere
Through E-wallet money transactions can be done on mobile or on system.
Steps for E-Wallet
- Many e-wallets like paytm, SBI Buddy, MobiKwik are available in online
- Download the app
- Register with your mobile number
- Link your Debit card or credit card through net banking
Cards, Point of Sale (PoS)
Digital payment via debit, credit card and prepaid cards.
Steps for card, PoS payment
- Swipe your card
- Put in pin
- Get a receipt
Aadhaar Enabled Payment System
Payment done by Aadhaar enabled system. Aadhaar Enabled Bank Accounts (AEBA) to be operated through Micro ATMs. This system is controlled by the National Payments Corporation of India (NPCI).
Steps for the payemt
- Link Aadhaar number with bank account
- Approach a business correspondent (BC)
- Get you biometric authenticatioin done and
- Transfer funds
AEBA can be used to carry out the following transaction
Cash Deposit or Withdrawal
Unstructured Supplementary Service Data (USSD)
Steps to use USSD
- Link your mobile number to bank account
- Dial *99# from phone
- Fill in the first three letters of you banks against short name or first four of IFSC
- Choose ‘fund transfer-MMID* option
- Enter the payee’s mobile number and MMID
- Enter the amount and your MPIN, leave a space and enter the last 4 digits of your account number