BHIM app achieves another milestone

National Payments Corporation of India (NCPI) has recently said its Bharat Interface for Money (BHIM) App has crossed 16 million downloads and 4 million active customer base and a new updated version would be launched soon.

BHIM App is a common platform across the nation for making simple, easy and quick payments.

"Transactions via BHIM App is witnessing growth with each passing month since its launch on December 30, 2016. Download numbers breaching 16 million mark is a remarkable achievement towards digital transactions and creating a less-cash society," A.P Hota, MD and CEO of NPCI, said.

Currently, the 1.3 version of the app is available on Google Play Store and Apple Store and soon a new update (Version 1.4) of the app will be launched, he said.

BHIM referral scheme is also operational now, where the existing BHIM user (referrer) needs to encourage the new BHIM user (referee) to download the BHIM App and enter the referrer's mobile number as the referral code.

For both referrer and the referee to get their incentive, the referee has to make minimum 3 unique transactions totalling minimum value of Rs 50. On successful completion of the process, the referrer would get Rs 10 and the referee who does the payment would get Rs 25, NCPI said in a release.

About BHIM/Unified Payments Interface (UPI) is a smart mobile phone based app that allows simple, easy and quick payment transactions using UPI. One can easily make direct bank to bank payments instantly and collect money using Mobile number or payment address.

It is a unique payment solution which empowers an individual with immediate send and collect request. It uses an email like Virtual Payment Address (VPA)/ Mobile Number@upi /Account number and IFSC Code/Aadhaar Number as payment identifier for sending or collecting money instantly.

NPCI is an umbrella organisation for all retail payments system in India. It was set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks' Association (IBA).