Today is the sixth anniversary of indigenously developed payment application BHIM (Bharat Interface for Money). It was launched on this day in 2016 by Prime Minister Narendra Modi.
BHIM is a biometric payment system app using the Aadhar platform and is based on Unified Payment Interface (UPI) to facilitate e-payments directly through bank.
It can be used on all mobile devices, be it a smartphone or a feature phone with or without internet connection.
The payments through the BHIM App can be made by just a thumb impression after the bank account is linked with Aadhaar gateway.
UPI transaction has gained traction over the year. UPI transaction value for the month of November this year was 11.90 lakh crore rupees while the transaction volume was 7.30 billion.
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