NPCI Issues BHIM Aadhaar Pay Guidelines

13 May 2024 CW Team

The National Payments Corporation of India (NPCI) has issued guidelines for merchant acquisition on the BHIM Aadhaar Pay platform. These guidelines aim to streamline the merchant onboarding process and facilitate the adoption of digital payments, particularly in rural and remote areas where Aadhaar-based transactions can play a significant role in financial inclusion efforts.

The guidelines outline the procedures and requirements for entities interested in becoming merchant acquirers on the BHIM Aadhaar Pay platform. They cover aspects such as registration, training, infrastructure setup, and compliance with regulatory requirements to ensure a smooth and secure merchant onboarding experience.

NPCI's initiative to provide guidelines for merchant acquisition on BHIM Aadhaar Pay aligns with the government's push towards promoting digital payments and leveraging Aadhaar-based authentication for financial transactions. By standardising the merchant onboarding process, NPCI aims to accelerate the adoption of BHIM Aadhaar Pay and expand its reach across diverse merchant segments.

BHIM Aadhaar Pay offers a convenient and secure payment option for both merchants and customers, allowing transactions to be completed using biometric authentication linked to Aadhaar credentials. The platform has the potential to drive financial inclusion by enabling digital payments in areas with limited banking infrastructure and internet connectivity.

With the release of these guidelines, NPCI seeks to create a conducive environment for merchant acquisition on the BHIM Aadhaar Pay platform and encourage more merchants to accept digital payments. By facilitating easy access to digital payment solutions, NPCI aims to contribute to India's journey towards a less cash-dependent economy and promote financial empowerment among all sections of society.

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