National Payments Corporation of India (NPCI) recently announced that Bharat Interface for Money (BHIM) – Unified Payments Interface (UPI), the revolutionary platform for sending and receiving money has achieved transactions over 145 million in December 2017 recording a growth of 39 per cent compared with the previous month.
The growth of BHIM UPI is due to consumer acceptance, support from 67 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.
- R. Balasubramaniyan, a fifty-five-year old insurance professional is a regular user of this platform, sharing his experience, he says, “I was referred to BHIM app by my son and I have been using it since last eight months. BHIM app is simple and easy to use. I use it to transfer money to my friends. I have referred many of my friends to this app,” he said.