IBEF: January 03, 2017
New Delhi: The Government of India's indigenous digital payments application, BHIM (Bharat Interface for Money), has become the top app on Google Play Store in India with over 3 million downloads and over 0.5 million transactions made so far since its launch, according to Mr Amitabh Kant, Chief Executive Officer, NITI Aayog. The BHIM app was launched on December 30, 2016 to enable fast and secure cashless transactions using mobile phones, without having to use a credit or debit card. The app has been developed by the National Payment Corporation of India (NPCI), and supported by host of banks, including public sector banks such as State Bank of India, Bank of India, Canara Bank, Oriental Bank of Commerce, Punjab National Bank as well as private sector banks such as ICICI Bank, Axis Bank, HDFC Bank and Kotak Mahindra Bank among others.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.