Will BHIM be the only payment app we will all need in 2017?
Here’s what we know so far about BHIM (Bharat Interface for Money):
- Money transfer is via secure UPI (Unified Payment Interface ) and linkage to your bank account.
- You can send and receive money instantly, 24*7, using this app. It also enables transfers by scanning a QR code.
- It will be Aadhar-enabled soon. That means just your biometric scan (fingerprint) will be enough.
- Available on Android and coming to iOS soon. (https://play.google.com/store/apps/details…)
- On registration, you will be allotted a unique id – default UPI address in the format <your_phone_number>@upi
This can be customised later to say dolphin@upi
- Over 30 banks are currently part of the UPI network
Do try it out too and let us know how it goes! We too will try it out soon!