BHIM-Aadhaar-SBI is a digital payment acceptance solution from State Bank of India which enables an SBI merchant to accept payments for goods/services using his Android smartphone and fingerprint reader, from customers having Aadhaar seeded bank accounts, by authenticating the customer’s biometrics. The transaction will be interoperable in nature allowing any other participating bank customer to also transact on the application.
Features of the product:
1. Accept real time payments directly to your account ‐ No need to spend time to deposit cash into your account.
2. Escape from hassles of receiving payments in cash ‐ No risk of forged notes
3. Get transaction reports and keep track of your business
4. Card-less transactions: All that the consumer needs is his Aadhaar number.
5. Safe and Secure
The merchant needs to have the following to start using BHIM-Aadhaar-SBI:
- Aadhaar seeded account with SBI
- Certified Biometric Reader with Micro USB / USB C-Type connector
- Android smartphone with internet connectivity and OTG support for connecting biometric device
- Android version 4.2 or higher
- Phone should be able to power the biometric reader; please check with supplier.
List of certified biometric readers is furnished below.
- MantraTec – MFS100
- Precision Biometric – PB 510 / PB ABAS 400
- Morpho – MSO 1300 / MSO 1300 (E)
INDIVIDUALS (RETAIL MERCHANTS): The registration process is fully automated and app based for individual merchants. The merchant needs to download the application from the Google Play store and register himself using his Aadhaar number and biometric credentials. During the registration process, the merchant is asked to select his Bank account maintained with SBI where he wants the payments to be credited. In addition, the merchant is also asked to agree to the terms and conditions for using the app, which are displayed on the mobile itself.
Transaction limit individual consumer :
- Consumer Side (Payer/buyer)
- Rs. 2,000/- per transaction
- Rs. 5,000/- per day per Aadhaar number
- Rs. 20,000/- per month per Aadhaar Number
- Merchant Side (Seller)
- Rs. 25,000/- per day per Aadhaar number
- Rs. 1,00,000/- per month per Aadhaar number