Pushing forward the bandwagon to promote digital payment in the country, Prime Minister Narendra Modi launched a new payment platform on Friday- Aadhaar Pay, a payment platform which works through the BHIM app.
On the occasion of Ambedkar Jayanti, PM Modi launched the Aadhaar Pay app in Nagpur. Aadhaar Pay can be installed by the merchant along with a biometric scanner. Here we will give you a detailed guide on how to use the Aadhaar Pay service.
PM Modi also launched a cash back and referral initiative for the BHIM app to encourage more people to use the service. The central government has reportedly invested Rs 495 crores for a period of six months in the scheme.
Guide on how to use the Aadhar Pay service through BHIM app:
What is Aadhaar Pay?
Aadhaar Pay is the merchant version of the Aadhaar Enabled Payment System (AEPS). The service will benefit those who do not have mobile wallets and debit cards. The payment app would also eliminate the fee currently being charged by the private payment card companies such as MasterCard and Visa.
How to use Aadhaar Pay?
# At first, merchants need to download the app on their mobile. The Aadhaar Pay app is available on both Google Play store and Apple’s app store.
# Then they would require connecting their smartphones to a biometric scan machine required to accept the payment from the customers.
# The merchants would also be required to link and connect their bank accounts on the app and further need to register for the same.
# One thing to keep in mind here is that the merchants the Aadhaar Pay app can only be downloaded by the link sent to the merchant’s mobile number after e-KYC verification of merchant’s account number. The merchants are required to visit IDFC bank’s branch to get the app.
# Aadhaar Pay will work through BHIM app. Users can go to the merchant and make payment by providing their Aaadhar number and authenticating the payment through the scanner. However, before availing of the service, users will have to link the Aadhaar number to their bank account.
# Another good thing is that the government will not levy any charge on the customer or the merchant for transactions performed through Aadhaar Pay.