Users of BHIM may send money to others using their Aadhaar numbers. The coronavirus pandemic has boosted digital financial transactions in India significantly. Almost everything has gone digital, from schooling to grocery shopping to making various payments.
Some people, however, have been left out of the advantages. For example, some persons may not have a smartphone or a Unified Payment Interface (UPI) address, making it impossible to transmit money to them. To resolve this issue, the Unique Identification Authority of India has disclosed that consumers who use BHIM may send money to receivers who do not have a phone number or a UPI address using their Aadhaar number.
BHIM is a UPI-based payment system that permits real-time financial transfers using a single identification such as your phone number or name. The option to transmit money using an Aadhaar number is displayed at the beneficiary address in BHIM, according to UIDAI. Here’s all you need to know if you’re a BHIM user who wants to try transferring money using your Aadhaar number:
A BHIM user must provide the beneficiary’s 12 digit unique Aadhaar Number and hit the verify button to send or transfer money using Aadhaar Number.
According to the information supplied by UIDAI, the system will authenticate Aadhaar linkage and fill beneficiary addresses, and the user will be allowed to transmit money.
The bank account of the receiver designated by UIDAI to receive DBT/Aadhaar Based credits will be credited when the money is sent to him/her, according to UIDAI. Aadhaar Number and Fingerprint can also be utilised to make digital payments to retailers who accept payments using Aadhaar Pay POS.
If a person has accounts with more than one bank and all of the accounts are connected to Aadhaar, all of the accounts can be utilised to make digital payments in this instance.
According to the UIDAI, “When making an Aadhaar-based payment, you will be offered the option of selecting the bank from which you want to make the payment. As a result, each time you make a payment, you have the option of selecting the bank.”
Additionally, when you pay with Aadhaar Pay, your account will be deducted online / instantly.