Digital Payment Revolution : Facts & Figures
Digital Payments Progress
- Lucky Grahak Yojana and Digi Dhan Vyapar Yojana launched on 25.12.2016
- 100 Digi Dhan Melas held in 100 cities all over the country.
- 100 day long information, education and communication campaign led by NITI Aayog to make digital payments a mass movement in India.
- At least 15,000 institutions have gone cashless across just these 100 rural and urban cities across each one of the 27 states and 7 UTs.
- With a turnout of over 15 lakh from cities, small towns and villages, the melas have enabled lakhs to open new bank accounts as well as create new Aadhaar cards.
- Rs.258 crore of prize money won by 16 lakh winners, including customers and merchants belonging to different corners of the country and from varied walks of life.
- The lucky winners of the Mega Draw felicitated by the Prime Minister in Nagpur.
- BHIM App and QR Codes launched
- BHIM App has already created a new world record by registering 1.9 crore downloads in just four months since its launch in December, 2016.
- India haso seen an unprecedented increase in number of transactions made using several user-friendly digital payment methods viz. UPI, USSD, AePS.
- Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of ₹ 2425 crore in March 2017 compared to 2,80,000 digital transactions worth ₹ 101 crore till November 2016.
- Aadhaar Enabled Payments have increased from 2.5 crore in November 2016 to over 5 crore in March 2017.
- Immediate Payment Service (IMPS) transactions have also increased from 3.6 crore to 6.7 crore during the same period.
BHIM-Aadhaar, the merchant interface of the BHIM App
- It will pave the way for making digital payments by using the Aadhaar platform.
- Any Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchants’ biometric enabled device which could be smart phone having a biometric reader.
- Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform.
- Already, 27 major banks are now on board with 7.15 lakh merchants so that they can start accepting payments using BHIM Aadhaar.
ONBOARDING
- Total Onboarding (including syndicate update): 7.15 lakhs ,Transactions: 12.62 lakh
- Aadhar:1.75 Lakh
- BHIM/UPI 4.79 lakh
- QR Code:1.68 lakh
BHIM – Cash back and Referral Bonus Schemes
- To ensure that the culture of digital payments permeates down to the grassroots.
- Under the Referral bonus scheme both the existing user who refers BHIM and the new user who adopts BHIM would get a cash bonus credited directly to their account.
- Under the Cashback scheme the merchants will get a cash back on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI.
- Outlay of ₹ 495 crore for a period of six months.
75 Townships declared Less Cash Townships
- In order to achieve the target of 2500 crore digital transactions during the current financial year, the Prime Minister announced about 75 townships spread all over India as ‘less-cash townships’.
- A less-cash township is one where the deployment of payment acceptance infrastructure is complete, all the families in the township are covered under training programs.
- Selected townships on the basis of third party assessment by Price Waterhouse Coopers (PWC)
- Townships with more than 80% of the total number of transactions being done through digital modes of payments during the review period are included in this list.
- These townships are likely to generate over 1.5 lakh digital transactions every day thereby leading to about 5.5 crore digital transactions in a year.
