The full form of BHIM is Bharat Interface for Money.
BHIM is a mobile payment application developed by the National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI). It facilitates e-payments directly through banks and is designed to promote cashless transactions in India.
Key aspects of BHIM:
- Developed by: NPCI (National Payments Corporation of India)
- Based on: Unified Payment Interface (UPI)
- Purpose: To facilitate fast, secure, and reliable cashless payments through mobile phones.
- Functionality: Allows users to send, receive, and request money via UPI.
- Languages: Available in multiple Indian languages, making it accessible to a wider user base.
In essence, BHIM serves as a crucial component in India's digital payments ecosystem, making financial transactions simpler and more accessible.
