NCPI (National Payments Corporation of India) this week declared that its BHIM App has (Bharat Interface for Money) 4 Million active user base and reached 16 Million downloads. It also claimed that a new upgraded variant might be rolled out soon. BHIM App is an ordinary platform all around the country for making easy, simple, and quick transactions.
“Payments through BHIM App are seeing development with each month passing since its roll out in December 2016. Numbers of download crossing mark of 16 Million is an extraordinary accomplishment towards digital payments and making a cash-less society,” MD and CEO of NPCI, A.P. Hota, said today to the media in an interview.
Presently, the version 1.3 of the app is obtainable on Apple Store and Google Play Store and soon a new upgrade of the app (version 1.4) will be rolled, he further added. Referral scheme of the BHIM is also functional now, where the current BHIM user needs to promote to download the BHIM App to the new BHIM user and enter the mobile number of the referrer as the referral code.
For both referee and the referrer to get their reward, the referee has to make at least 3 unique payments totaling least value of Rs 50. On completion of the procedure successfully, the referrer will receive Rs 10 and the referee who carries out the payment will receive Rs 25, NCPI claimed to the media in a release. Unified Payments Interface (UPI)/BHIM is a smart app based on smartphone that enables easy, simple, and quick transaction payments utilizing UPI. One can effortlessly make direct bank to bank transactions instantaneously and collect cash using payment address or mobile number.
It is an exclusive transaction solution that allows a person with immediate collect and send request. It utilizes an email for Account number/Virtual Payment Address (VPA) and Aadhaar Number/IFSC Code as payment identifier for collecting or sending money instantaneously. NPCI is an umbrella organization for all retail transaction system in the country. It was established with the support and guidance of the Indian Banks’ Association (IBA) and Reserve Bank of India (RBI).