An indigenous digital payments app BHIM (Bharat Interface for Money), developed by government for speedy and protected cashless transactions was launched recently on the iOS platform.
Earlier available on Android platform, the App was launched on December 30 by our very own Prime Minister Narendra Modi for fast and secure cashless transactions using mobile phones. The platform designed to make payment through UPI and USSD modes simpler.
Last month, IT Minister Ravi Shankar Prasad said that the number of downloads for BHIM app has crossed 1 crore mark. The app downloads which have shot up in a substance of a few days "shows how India is changing" with regard to adoption of digital payments and cashless transactions, the Minister had pointed out.
Over the years, the other digital payment channels like mobile wallets, USSD and RuPay have seen enormous uptake and increase in transactions post demonetisation. As far as government data is concerned, the number of transactions on USSD (mobile short code message used mainly for banking services on feature phone) saw a gigantic 5,135 percent jump, from 97 such deals a day on November 8 to 5,078 on December 25.
UPI transactions which permit users to relocate funds from one bank account to another using a smartphone - grew 1,342 percent, from 3,721 such transactions a day on November 8 to 53,648 on December 25.