Monday, July 10, 2017

#Modi Govt.plans Rs.50 cr. media blitzkrieg for @appbhim

Bengaluru: In its bid to promote cashless digital economy Narendra Modi led NDA Govt. will soon unleash a Rs.50 crore TV and print advertisement campaign to popularise Aadhaar-based money transfer mobile platform called “BHIM-App". This was disclosed by A. P Hota, MD & CEO of National Payments Corporation of India (NPCI) in Bengaluru yesterday.

BHIM Aadhaar is based on NPCI’s Aadhaar Enabled Payment System (AePS). The AePS volume was 5 crore, 6 crore and 7 crore for April, May and June 2017 respectively. BHIM Aadhar was launched by Prime Minister Narendra Modi on April 14, 2017 and it is currently being offered by over 1.34 lakh merchants.The union Govt. has also launched two new incentive schemes for the BHIM app users – Cashback and Referral bonus – with an outlay of Rs 445 crore.

Highlighting the nation’s target of achieving 25 billion digital payments transactions mark in FY18, Hota said last year, the volume of digital payments was 9.2 billion of which 3.5 billion had been contributed by NPCI, and this year, “we are aiming to contribute about 11 billion digital transactions.”

Meanwhile, cab-booking company Uber and e-commerce giant Amazon are in the process of integration of BHIM app on their payment platform.Technology giant Google has completed the testing of its Unified Payments Interface (UPI) payment service and is awaiting Reserve Bank of India’s (RBI) approval to launch its service in India.WhatsApp and Facebook are also looking to rollout UPI in India but they are still in the discussion phase.