New Delhi: Prime Minister Narendra Modi on Friday launched a new e-wallet app ‘BHIM’, named after Dr BR Ambedkar, for easier digital transactions. The Aadhaar-based mobile payment application was launched at the Digi Dhan Mela in New Delhi.
BHIM or Bharat Interface for Money is a revised version of Unified Payment Interface or UPI and Unstructured Supplementary Service Data or USSD.
This app can be used on a smartphone or a regular feature phone, and soon it will be improved so that one only has to use their thumb or fingerprint to make payments.
“Be it a smartphone or feature phone of Rs. 1,000-1,200, BHIM app can be used. There is no need to have Internet connectivity. One only needs a thumb. There was a time when an illiterate was called ‘angutha chchap’. Now, time has changed. Your thumb is your bank now. It has become your identity now,” the PM said.
The BHIM app can be downloaded from the Android app store. Once installed, one can send or receive money and even make payments by scanning a QR code generated by the app.
A maximum of Rs. 10,000 per transaction and Rs. 20,000 within 24 hours is allowed in this. The app supports Hindi and English, more languages will be coming in.