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How Jio Phone may give further boost to BHIM app launched by PM Narendra Modi

Prime Minister Narendra Modi had launched the Aadhaar-based money transfer mobile platform for traders along with two incentive schemes, in a push to make the economy “less-cash” and curb black money generation.

jio phone, narendra modi, bhim app, digital india, National Payments Corporation of India, Bharat Interface for Money, Unified Payment Interface, UPI,
Now, after millions pre booked the Jio Phone, Jio has suspended booking. (PTI photo)

Finally, long wait for much-awaited Jio Phone came to an end at 5.30 PM on 24th August when pre booking was opened by Reliance on Jio website, app and offline stores. Now, after millions pre booked the Jio Phone, Jio has suspended booking and the company will inform once they will resume the pre booking for the Reliance 4G feature phone handset.

According to FE bureau, Reliance is educating the dealers about the pre-booking process as well as on how to avail the vouchers for booking the handsets. The transactions will be done using the BHIM app, as per FE bureau. In this way, Jio Phone may give a further push to PM Narendra Modi’s ambitious BHIM app. For transactions, Reliance will roll out a Jio point of sale (PoS) version that will be pre-embedded with the pre-booking voucher functionality. A retailer needs to download this for making payment on the vouchers in order to book the phone, as per FE bureau.

Reliance in the first round will provide every dealer with 40 Jio Phones, which can be availed only through Jio vouchers and this will be on a first come first served basis. The dealer can purchase up to 40 phones in first instance by paying the firm Rs 20,000, which means Rs 500 per voucher per phone. This condition has been set to ensure that the handset distribution is evenly spread.

“The money will be reimbursed to the retailer once he sells the phone. The buyer will be making a 3-year locked-in security deposit of Rs 1,500. Of this, the retailer will get back his payment of Rs 500 and will transfer the remaining Rs 1,000 to the company,” a retailer, who did not wish to be quoted, told FE.

Prime Minister Narendra Modi had launched the Aadhaar-based money transfer mobile platform for traders along with two incentive schemes, in a push to make the economy “less-cash” and curb black money generation.

Developed by National Payments Corporation of India (NPCI), the Aadhaar-linked Bharat Interface for Money (BHIM) mobile app is based on the Unified Payment Interface (UPI).

To make the deliveries, Reliance has launched a massive exercise by roping in logistics companies as well as its own workforce. It plans to deliver a lakh handsets every day to meet the expected rush.

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First published on: 26-08-2017 at 14:37 IST