Similarly, MDR is charged on payments made to merchants through BHIM
UPI platform and AePS.
BHIM Aadhaar Pay There are several mobile payment apps out there, but BHIM Aadhaar is taking it to the next level as it lets you make payments without a smartphone.
BHIM Aadhaar works on the NPCI's existing product - the Aadhaar Enabled Payment System ( AePS).
With the introduction of BHIM Aadhaar, people can get rid of plastic money, need not remember passwords of different cards, accounts, and digital payment wallets, and do not run the risk of these getting stolen or hacked.
They can start accepting payments using BHIM
- Aadhaar, it said The PM will also launch a cashback and a referral bonus scheme for BHIM
The BHIM app is also set to include multilingual support soon, with more vernacular languages.
BHIM has been developed by the National Payments Corporation of India (NCPI), and is aimed to help the nation manoeuvre towards a cashless economy.
Unlike most other online payments app, BHIM works by simply registering your bank account with the app and setting a UPI PIN for the account.
New Delhi [India], Nov 7 ( ANI ): Digital payment platform Paytm on Tuesday introduced payments using BHIM UPI on its platform, using which users can create their own Paytm BHIM UPI ID on the app, which will be issued by Paytm Payments Bank.
Also, Paytm users can link any of their savings bank account with this unique Paytm BHIM UPI ID and start sending and accepting money.
With Paytm BHIM UPI, users can now make seamless and instant money transfers directly between two bank accounts, with no waiting time to add beneficiary.
(Bharat Interface for Money) is a Mobile App developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI).