Saturday, April 15, 2017

PM Narendra Modi launches BHIM-Aadhaar app; Here’s how it works 

The app authenticates a customer’s biometric details linked to his Aadhaar account through fingerprint scanner. The app can thus does away with the need to remember banking details such as PINs and make cashless transactions simpler and hassle-free.Prime Minister Narendra Modi on Friday launched BHIM Aadhaar app for retailers and merchants which lets citizens make purchases without their smartphone or even credit/debit cards. How BHIM Aadhaar app works The app authenticates a customer’s biometric details linked to his Aadhaar account through fingerprint scanner.

 The app can thus does away with the need to remember banking details such as PINs and make cashless transactions simpler and hassle-free.BHIM Aadhaar works on National Payments Council of India’s (NPCI’s) existing product -- Aadhaar Enabled Payment System (AePS).  “This will directly cater to about 40 crore bank account customers spread across the country whose account is linked with Aadhaar. It is a huge opportunity for enabling digital transactions as about 99 percent of adult population is now Aadhaar-enabled,” said AP Hota, Managing Director and Chief Executive, NPCI. 

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