Prime Minister Narendra Modi on Friday launched BHIM app, or the Bharat Interface for Money, with an aim to push India towards becoming a cashless society.
The app allows to make cashless payments over mobile phones. The app is developed by National Payment Corporation of India (NCPI).
Here are the important facts about the app:
1) The app can be easily downloaded from the Play Store. After this, the app requires to register bank account and setting up of PIN. The payment address can be easily set as user's mobile number.
2) The user can transact money – send or receive – using the payment address. The money can also be sent to non-UPI supported banks using MMID and IFSC.
3) The app supports Hindi and English languages at present.
4) A QR code can be scanned for quicker entry of payment addresses. Merchants can print their QR Code for display.