digital payments - Electronic Gurudev

Sep12017 by Team - The Digital IndianNo Comments

Here’s How PM Modi intend to make Bharat a cashless economy

National

In a bid to drive the cashless economy in the country, the central government is considering making mandatory digital payments at points of consumer interface in all government and departments including railways and road transport corporations. Government payments account for a huge percentage of overall transactions and hence PM Modi wants digital transactions to increase in order to reduce the country's dependence on cash. To achieve this the government is planning to come up with new initiatives. Here is a brief explainer Online payments integrated with BHIM All payment options of government and Public Sector Units will be integrated with with official payment modes such as BHIM and Bharat QR code. Bus, train and Metro ticket counters and licenced kiosks and shops wil...

Announcements for Aadhaar-Pay, BharatNet and other Digital India Initiatives in Union Budget 2017

Economy

The Union budget 2017-2018 put the focus firmly on the idea of Digital India with the government announcing more steps for increasing digital payments in the country, along with a boost to the optical fibre network in rural areas to improve internet connectivity and access. Here’s a look at the top Digital India-related announcements from the Budget 2017-2018. Aadhaar Pay Aadhaar Pay, which is a merchant version of Aadhaar Enabled Payment System (AEPS), will be launched shortly. According to the Finance Minister, “This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones.” The government has set a target of 2,500 crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards. Additionally the govern...

Govt. of India launched Toll-free Helpline for Digital Payments

National

The government, in collaboration with telecom and IT industry, has launched a toll-free helpline – 14444 – to address consumer queries on digital payments. The helpline will address questions regarding various platforms, including the newly-launched Bharat Interface for Money (BHIM), eWallets, Aadhaar-enabled payment system and USSD. “The helpline ‘14444’ is available in North as well as Eastern part of the country in English and Hindi and will soon be extended pan India, and in other languages,” Telecom Secretary J S Deepak told PTI. The helpline has been launched jointly by Department of Telecom in collaboration with software association Nasscom, telecom industry as well as the IT industry, officials said. All telecom companies are participating in the initiative and the ...