Indian government will launch two new schemes to promote the usage of BHIM (Bharat Interface for Money) app, finance minister Arun Jaitley announced during his Budget 2017 speech.Jaitley said the app will feature cashback schemes for individuals and referral discounts for merchants, although he didn't disclose any specific details on these schemes. The app which was launched in December 2016, now has 1.25 crore users, he added.
Last week, the government had enabled Aadhaar support within the app and had stated plans to launch the biometric-based Aadhaar Pay payment module in the coming weeks.
Transactions where Aadhaar is listed as a payment ID on the BHIM app would not require any biometric authentication or prior registration with the bank or UPI. This move was expected to make the app more mainstream since almost a third of Indians already have Aadhaar numbers linked to their bank accounts.
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