Abhaya Prasad Hota, CEO, NPCI speaking at the seminar on Digital Financial Literacy for All about the BHIM app and how this app is a common platform for making simple, easy, and quick payments.
BHIM app is a mobile phone based app that allows payment transaction using UPI, direct bank to bank payments instantly and collect money using mobile number or payment address.
It uses an email like virtual payment address, mobile number, account number, Aadhaar Number as payment identifier for sending or collecting money instantly
National Payments Corportaion of India (NPCI) is an umbrella organization for all retail payment system in India. It was set up with the guidance and support of the Reserve Bank of India and Indian Banks Association.