BHIM Joins The Digital Dangal
Impact of Mobile Wallet
As Demonetization has altered the way of payment, the shortage of money initially created a chaos among the people, but later people adopted this changes for better life. Demonetization has become an integral part of every individual as it has changed the lifestyle of the people and the flow of cash. When it comes to payment option, most of the time we don't have proper amount of cash and the citizens of the country were facing issues in standing in the ATM line for a long time, but later the new method came which was mobile Wallet. Mobile Wallet played a very crucial role in helping people to go cashless. The majority of the humans used mobile Wallet for making daily payment. PayTM was the foremost mobile wallet which helped everyone for making payment. This has encouraged people to go cashless. Electronic Wallets has impacted drastically, as it has altered the way of the payment. Prime Minister of India came up with numerous methods and program for encouraging people for paying through the mobile wallet. As far as the authentication is concern digital wallets are very authentic as they keep your money safe. Electronic Wallet never lets you down when it comes to encash the money.
BHIM digital Wallet
As Mobile Wallet has created a revolution, there is another wallet introduced in the market, which is named after Babasaheb Bhimrao Ambedkar. As BHIM stands for Bharat Interface for Money. This money wallet is more effective than PayTM, as this wallet is for feature phones as well as for low-budget phones. This digital wallet is UPI-based i.e. one can easily transfer money. This wallet can directly be linked with your bank account, like any other mobile wallet one need not put money in the wallet first. The best feature of this wallet is that you can keep a check on your expenses and the money you have in the wallet, this would help you to do the systematic flow of money. There are many humans who face problem in using mobile wallet just because they don't know how to read in English, BHIM is the only mobile wallet which is in both English and Hindi and soon it would be launched in the regional languages. This app can only be registered on the phone number which is registered in the bank also. This app has made easy for the people to access to money and transfer it to another account.