Official Mobile app (BHIM) Released By Prime Minister Narendra Modi

UPDATE:

VOILA………… finally PM modi have released a aadhar based mobile payment application today called BHIM ( Bharat Payment Interface for Money).This app was released on Android platform for now , but expected to be released on other platforms soon.

As we have published earlier regarding this app . you can check it out below.

OLDER POST:
On December 25^th, our Prime Minister Narendra Modi is going to release a new app for cashless payments. So you need not to carry your credit or debit cards all the times in your wallets. You just need your Aadhar number (and most important your finger to give finger print) to make Transactions or Payments.

The merchants need to buy a new hardware called “Biometric Reader” for 2000/- , after purchasing this the merchant should download the app (after it is releases) and connect their smart phone via miniUSB.

Finally, if a customer has to pay the bill to Merchant, the merchant should enter the amount to be paid on the app. Next, the customer checks the amount if it was correct.

If so, the customer need to enter his/her Aadhar number and then should select the bank account which has sufficient balance and finally to authorize the payment customer should put this/her thumb in Fingerprint Reader. If all the details are correct then the payment is authorized.

Pros of this method:

You need not to carry your cards all time.

The customer needs not to have a smart phone.

Highly secured, since you are using fingerprint to authorize transactions.
Cons :
APP is available only on Android platform.