On the heels of India’s move last month to discourage cash-hoarding by demonetizing certain bills, Prime Minister Narenda Modi on Dec. 30 announced the rollout of a government-managed mobile payments app.

The app, called Bharat Interface for Money (BHIM) works on Android devices and relies on fingerprint authentication, enabling bank-to-bank transfers, including person-to-person payments and purchases from participating merchants by scanning a QR code. Transactions are limited 10,000 rupees per day.

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