BHIM Celebrates its Sixth Anniversary
Indigenously developed payment application BHIM (Bharat Interface for Money) celebrated its sixth anniversary. BHIM App was launched on 30th December 2016 by Prime Minister Narendra Modi. BHIM stands for Bharat Interface for Money. It is a biometric payment systems app using the Aadhar platform and is based on a Unified Payment Interface (UPI) to facilitate e-payment directly through the bank.
It can be used on all mobile devices whether it’s a smartphone or feature phone or a phone without an internet connection. The payments through the BHIM App can be made with just a thumb impression after the bank account is linked with the Aadhar gateway.
BHIM or Bharat Interface for Money is an Indian mobile payment app developed by the National Payments Corporation of India (NPCI) based on the Unified Payments Interface (UPI). The BHIM App was launched on 30th December 2016. It is intended to facilitate e-payment directly through banks and encourage cashless transactions. It was named after the great Dalit leader Dr. Bhimrao Ambedkar.
The application supports all Indian banks which use UPI, which is built over the Immediate Payment Service (IMPS) infrastructure and allows the user to instantly transfer money between 170-member Banks of any two parties.