Aadhar Payments App (BHIM) Download and Other Info
Ever since UPI has hit the markets we have known that there will be a revolution in the way people are making payments. One of these evolutions has already hit the market in the form of Aadhar Enabled Payment System or AEPS. It has been announced already and it is to be rolled out soon. What people can do through it is make online payments without any cash. In fact, all you will need is your Aadhar card information and biometric print to be able to carry out the transactions.
Has it been launched yet?
Although this scheme had been announced long back, on 25th December it has been officially launched all over the country. But first it has been rolled out to about 100 merchants in the country. Once the machinery to accept the payments is in place, the customers can start using them.
This comes at a time when the SBI has been carrying out its Shirki Village project in Maharashtra. It is a test run in Aadhar based payment solutions
So what is the benefit from this type of app?
- First of all, it is a very easy method to accept and make payments. One does not need to carry cash with them they can pay via their biometric details.
- They can also find easy ways to make payments – either via an android phone or any other technology. There is no need to remember MPINs, passwords or debit card PIN numbers.
- The best part is that there is no service charge on the use of Aadhar card enabled payment services. You can make payments easily and cost effectively.
- No more need to disclose your debit card or credit card details to the merchant. Neither is there any hassle to generate any OTP. You just need to provide your biometric details.
- The payments will be received instantly via the Aadhar Bridge system. It will be a cost effective method of making and accepting payments.
Requirements for having AEPS
For the merchants – they need to have a smartphone and a fingerprint scanner in order to accept these payments. The best part is that they can accept these payments via their smartphone itself because some of the smartphones already come with fingerprint scanners. These are a little bit high on the price end but they are a onetime investment and with this one device you can have both – a payment acceptance method and a verification device.
The customers need to have an Aadhar card number, and a bank account that is linked with their Aadhar card apart from clean fingers of course. The customers just need these things in order to make payments. The merchant however, needs to make a little more arrangement than the customers. He will need (apart from a smartphone and a fingerprint scanner), a bank account, a stable internet connection and the Aadhar payment app installed on his phone.
How to download Aadhar Payment app?
- Turn on the data or Wi-Fi connection of your smartphone and go to PlayStore on your app. Then search “Aadhar payment app” on the search space of this app.
- Once you do that you will see a list of Aadhar apps available for your phone. From them, choose the one that says Aadhar pay and click “download”.
- Wait for the app to get downloaded on your phone and then follow the instructions on the screen to use the app on your phone and register on it.
It is really that simple.
Other download links for the app
There are many download apps but the exact links for download have not been provided by the government yet. However, if you follow the method mentioned above, you will be able to get this app n the easiest way possible.
Future: Aadhar Card Payments App
Even though the links have not released yet, they will be released soon and if you are to look at the trends, it would be clear to you that the country is moving towards a digitized payment system. This would ensure that there is no more circulation of black money that would cripple the economy. Therefore, moving towards Aadhar app might be the best solution.
However one wonders: What about the app? Can it be trusted? At present we can see that the debit and the credit cards are not generating popularity among the masses because first of all they are not safe, secondly, they are not cheap. Companies like MasterCard and Visa charge around 2% of the amount paid through these methods. Merchants also take 2-3% of the amount paid via these methods.
However, the Aadhar app will not enable any extra charge to be levied on the customer. If the merchants are accepting payment via these methods they have to accept only the payment that is chargeable – nothing extra for the mode of payment. This can be an advantage for all.
|1||Bank linked Aadhar accounts||40 crore|
|2||Aadhar Payments app launch||25th Dec 2016|
|3||Link all Aadhar to bank by||March, 2017|