The Bharat Interface for Money (BHIM)
Smartphone is very popular in India nowadays. BHIM is an application in Google Play Android store developed by National Payment Corporation in India (NPCI). I think it will create a revolution in digital money in India. It is a very simple app, it can use by every person without any effort. One have an account in a bank in India and that account should register with a mobile number is essential for using the application.
Recently Government of India had developed Unified Payment Interface (UPI). The Government Agency behind its development was National Payment Corporation of India. It had launched in 11th April 2016.Through this system, everyone can create a virtual payment address for money transfer. It is very simple and easy as sending an e mail between addresses. Money transfer is available 24*7 throughout the year. Real time fund transfer is its specialty. Now 31 banks in India are under UPI. Remaining banks of India too will added to this system very soon.
BHIM is intended to facilitate e payments. It named after Bhimrao Ramji Ambedkar who is the chief Architect of Constitution of India. BHIM allowed users to send or receive money to other UPI Payment addresses or scanning QR Code or bank account numbers with IFSC Code or MMID (Mobile Money Identifier) Code to users who do not have a UPI based bank account. It is a simple App which can be used in Android and iPhone platforms.
We can transfer fund to any bank account in India through the App. No need to register the payee beforehand. BHIM can transfer money immediately, at anytime, even on holidays or night. Also no need to know bank account number of the payee. Registered mobile number or Adhar number (Unified Personal Identification number issued for every citizen in India) is needed for money transfer. BHIM also work on feature phone without internet. Money can be transferred to a virtual payment address or bank account number by using the App. "Scan and Pay" facility makes the payment very fast in shops. We can check balance of bank account also. We can check balance of bank account through it.
BHIM App is available in 9 languages. About 40 banks can be linked in this App. It is part of the Digital India Programme which is a flagship programme of Government of India with a vision to transform India into a digitally empowered society and knowledge economy. ' Faceless, Paperless, Cashless' is one of professed role of digital India.