BHIM Celebrates its Sixth Anniversary: BHIM (Bharat Interface for Money), a locally created payment application, recently celebrated its sixth birthday. On December 30, 2016, Prime Minister Narendra Modi unveiled the BHIM App. Bharat Interface for Money is referred to as BHIM. It is a biometric payment system app based on the Unified Payment Interface (UPI) that allows for e-payments to be made directly through the bank using the Aadhar platform.
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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.
About BHIM
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 30th of December 2016 saw the release of the BHIM App. It is intended to facilitate e-payment directly through banks and encourage cashless transactions. It bears the name of eminent Dalit activist 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.
