Title:FINANCIAL INCLUSION popularity of BHIM application
Abstract:A new feature has been called as revolutionary step in Indian financial inclusion which could turn the table for Indian economy and the step is BHIM, Bharat interface for money app BHIM is a digital payments solution app based on the Unified Payments Interface (UPI), a product from the National Payments Corporation of India (NPCI), its umbrella organization for retail payments systems all over in India. If you have signed up for UPI-based payments on your bank account, which is also linked to your mobile phone number, you’ll be able to use the BHIM app to carry out any digital transactions. BHIM will let us send and receive money to or from other UPI accounts or addresses. We can also send money via IFSC (Indian Financial System Code) and MMID (Mobile Money Identifier) Code to users who don’t have a UPI-based bank account. There’s also the option of creating your own QR (Quick Response) code for any fixed amount of money, which the merchant can scan to make the deduction.