By: Nirupam Manik, The Mobile Indian, New Delhi
Last updated : Friday, January 20, 2017 - 20:13
If you are not aware, BHIM stands for Bharat Interface for Money and is a simplified payment platform to facilitate UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data) payment methods.
Narendra Modi, Prime Minister of India, had launched the BHIM (Bharat Interface for Money) app on 30th December 2016 and it has started trending on Google PlayStore. Just four days after its launch, BHIM app witnessed over 3 million downloads and is rated No 1 on the Play Store, claimed Niti Ayog CEO Amitabh Kant.
The exact tweet read - "Bhim App - 3 million download since launch, No 1 on Play Store in India amongst all apps, over 500,000 transactions since launch. #MakeinIndia."
If you are not aware, BHIM is a simplified payment platform to facilitate UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data) payment methods. As of now, the app is only available on Google Play Store and works in English or Hindi language. Being a Central Government initiative, most of the Indian commercial banks are already on board for this payment system including State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, Bank of India, Canara Bank, Kotak Mahindra Bank, Oriental Bank of Commerce and Punjab National Bank, among others.
We tried the new BHIM app and found the process to be simple and easy. Check out our guide for How to install and transact through BHIM app.