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Bharat Interface for Money app records 149% growth in Oct
Bharat Interface for Money (BHIM) app launched by National Payments Corporation of India (NPCI) for sending and receiving money has recorded 149 per cent jump in transactions to more than 76 million during the month of October 2017 as compared with the preceding month.
Hyderabad: Bharat Interface for Money (BHIM) app launched by National Payments Corporation of India (NPCI) for sending and receiving money has recorded 149 per cent jump in transactions to more than 76 million during the month of October 2017 as compared with the preceding month.
The app is based on NPCI’s Unified Payment Interface (UPI) “The growth of BHIM UPI is due to consumer acceptance, support from 60 banks that use it, over 40 UPI apps launched by banks, third party apps from Google, PhonePe and acceptance of this platform among huge number of merchants,” an NPCI official said here.
Through BHIM UPI which works the round clock, money can be directly transferred to the receiver’s bank account. The other useful feature with the app is that one can initiate a collect request for funds to any BHIM UPI user.
“I have used the app for shopping on Flipkart and ordering for food on Foodpanda. This app helps us save so much time. It’s a blessing for people like me,” the NPCI statement quoted Debra D’Cruz, a sales executive and regular user of BHIM app, as saying.
