Time and
Tide wait for No
Man !
Nor does technology wait for the Supreme Court to ponder and decide
!
With regard to “ Aadhar
“ , SC is hearing some 21 cases for past 2 years
Yesterday , Chief Justice , Shri Misra decided to
appoint a 5 judge Constitutional Bench to hear these cases and decide
One of the important issue relates to “ linking of Aadhar with a user’s Mobile Number “
Petitioner says : This is illegal /
un-constitutional
It is possible that SC may agree with his
argument
But government lawyer , Shri Venugopal is not worried !
How come ?
Aadhar ID > < Mobile
Payment App / Bank Account > < Mobile Number
What is there to worry if Aadhar is not DIRECTLY linked to the Mobile Number ?
As long as it is INDIRECTLY linked !
And it seems NPCI mobile wallet app BHIM , which is cantered
around Aadhar , is
about to devour / engulf , ALL
other Mobile Wallet Apps , installed on millions of smart phones
( see news report below )
It is only a matter of time before ALL E-Commerce Apps will
be linked to BHIM
And ALL products
and ALL services will
get sold / offered ON-LINE !
If the Hon
Judges of SC get to read this email , they may not want to waste their time !
MOVE TO BOOST WIDESPREAD ADOPTION OF UPI - All for
Bhim, Bhim for All, as Banks to Align Pay Apps
( Source : Economic Times / 31 Oct
2017 )
Indian banks, both public and private, are set to bring their
digital payment solutions under the umbrella of Bhim or the Bharat Interface for Money, in a move
that could boost widespread adoption of the Unified Payments Interface (UPI).
Banks will now display Bhim as a prefix to their own UPI
applications in a bid to erase confusion among users.
In
turn, this will help promote UPI
as the single means of payment for smartphone-based small value retail transactions,
according to bankers who see this as a branding exercise similar to how
merchants display payment options for credit and debit card users.
“The
UPI front end of the bank apps will be changed to include the name Bhim, though this will be a
nomenclature change. Eventually everything will become
part of the larger Bhim family,“ said one bankers directly aware of the
development.
“
This should help clear all forms of confusion among merchants accepting UPI and
consumers using UPI for payments.“
Bankers
in the know told ET that since BHIM has become synonymous with digital payments, it will also
help people to identify with the application easily.
Further, it will also give a single identity to all the UPI
apps of the different banks.
Also,
this could give access to the promotional campaigns run by the government to
the users of bank-led UPI apps which till now was restricted to Bhim users.
“Since
there is a a wide-scale promotion campaign being run around Bhim, it has been decided
through consensus that all
bank apps should be renamed under the aegis of Bhim,“ said a senior public sector banker.
Bhim was launched by Prime Minister Narendra Modi, last December, as a
government promoted UPI application to promote digital transactions for
peer-to-peer payments.
BHIM emerged as a direct competitor for bank-led
UPI apps like Axis Pay, SBI Pay,
as well as non-bank UPI players like Flipkart-owned PhonePe and internet major Google's payment
application Tez.
Now with the rebranding, bank-led UPI apps, for
example, are being renamed as Bhim SBI Pay, Bhim Axis Pay, and Bhim
RBL Pay.
National Payments Corporation of India which runs
the BHIM application and manages the UPI railroads, has notified banks to place
Bhim / UPI
prominently at merchant checkout locations.
Industry executives are of the view that if every UPI app gets branded as
Bhim, then it could have a major effect on merchant adoption of the
payment interface and will also benefit non-bank payment platforms. As of now UPI adoption
has mainly been driven by peer-to-peer transactions.
“All banking or non-banking UPI apps
work on the same back end
promoted by NPCI, since all these apps are interoperable the decision to market UPI as a
common brand will help popularise it among the masses,“ said Rahul Gochhwal, co-founder of Trupay.
To know where all of this will lead to , read :
BHIM: the Unstoppable [ 14 April 2017 ]
31 Oct 2017
www.hemenparekh.in
/ blogs
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