The idea is simple: smoother digital payments within households and small businesses, without compromising control or transparency.
Deep also said that while customer acquisition is a challenge, maintaining or sustaining those customers is a far greater challenge.
Paytm rivals PhonePe, BHIM and Google Pay are seeing a surge in app downloads as consumers look for alternative digital payment services
With the help of UPI-Help, users can register complaints online using their BHIM UPI app for UPI transactions as well as resolve complaints online for person-to-person transactions.
Incidentally, the value of money that changed hands in 243.37 million UPI transactions in June — totalling Rs 40,834.03 crore — was also the highest in its history
Responding to a mention made by SP member Jaya Bachchan during the Zero Hour in the House, Prasad also said more than 2 crore people have been trained by common service centres on digital payements.
"Transactions via BHIM App is witnessing growth with each passing month since its launch on December 30, 2016. Download numbers breaching 16 million mark is a remarkable achievement towards digital transactions and creating a less-cash society," A P Hota, MD and CEO of NPCI, said today.
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.
Mengshette, a second year student of Electrical Engineering from Latur district in Maharashtra, received the cash prize from Prime Minister Narendra Modi at a function in Nagpur today.
"The training programme has started on April 8 and will continue till April 14 (the birth anniversary of Dr Bhimrao Ambedkar). During this week, BJYM will train about 15 lakh youths about BHIM App," he said.
National Payments Council of India is tightening mechanisms to make UPI platform more secure and safeguard customers against dubious transactions.
The government has asked all banks to provide mobile banking facility to all customers by March 31 in a bid to push digital transactions.
Mobikwik is firming up plans to transform into a full-fledged financial services platform to offer users interest on money parked in its mobile wallet through tie-ups with instruments such as mutual funds. It also plans to dole out loans to its customers through bank-to-bank collaborations.
From referral bonus and cash backs on digital transactions to incentives for online ticket bookings and a new AadhaarPay Application, Modi government is all determined to curb cash transactions and give India a digital push.
The NCC experience offers a glimpse of India, its strength and its diversity, he said addressing the NCC rally here.
Digital money transactions made on Unified Payments Interface (UPI) between January 1 and January 19 surged nearly 1,000 percent to Rs 980 crore from about Rs 90 crore in November 2016.
BHIM's user-friendly interface for cashless payments coupled with government's push can draw merchants and consumers alike, gradually edging out mobile wallets such as Paytm, Freecharge and MobiKwik.