BHIM UPI is gaining popularity
By Our Correspondent, 30/12/2017, New Delhi

National Payments Corporation of India (NPCI) is proud to announce that Bharat Interface for Money (BHIM) - Unified Payments Interface (UPI), the revolutionary platform for sending and receiving money has achieved transactions over 105 million in November 2017 recording a growth of 37 per cent compared with the previous month. The growth of BHIM UPI is due to consumer acceptance, support from 65 banks live with BHIM UPI, over 40 UPI bank apps, third party apps like TEZ by Google, PhonePe and acceptance of this platform among the huge number of merchants.

BHIM UPI is gaining popularity among millions of people due to the convenience offered to users. Insurance professional Mr. Pritam Bhattacharjee is a regular user of this app. “BHIM UPI App is a revolution in itself. It helped me in a time of dire need and helped me collect emergency funds in my bank account in time for EMI payments. I was introduced to this app by my brother who is in Chennai, and I find it very useful. After linking my bank account with BHIM UPI app, interbank transfers have become a hassle free experience.

The most amazing fact is the quickness with which money can be sent directly to bank accounts without any third party involved,” said Mr. Bhattacharjee. BHIM app helps send money to anyone in a contact list having a valid UPI ID.An enthused Bhattacharjee adds, “After using BHIM UPI, I don’t feel the need to have any other payment app. I told my friends in my locality to use this app because it is so simple and helpful. I have become a fan and would love to see BHIM acceptance at my local grocery store and medical shop too!”BHIM UPI works 24X7 and 365 days in a year through which money can get transferred directly to the user’s bank account.

The other useful feature is that one can even initiate a collect request for funds to any BHIM UPI user. Besides these, customer can simply use the ‘Scan & Pay’ feature to make payment across several local stores. The simplicity of this platform is that one needs to just create UPI ID and there is no need to remember details like account number or IFSC of the bank.One needs to remember two things while using BHIM UPI. Firstly, to link the mobile number to bank account and secondly, while transacting the SIM card of the mobile number linked to the bank account should be used in the mobile handset. Using this platform one can send as well as receive money without visiting the bank.