After the 2 months of its launch, Bharat Interface for Money (BHIM) has crossed over 17 Million downloads, which sets a world record of highest downloaded application in lesser time period.
“BHIM App is doing very well, it got 17 million downloads. It is an active, alert and progressive means of transactions, which requires three easy steps,” says Amitabh Kant, CEO of NITI Aayog.
The application was launched in December 2016 by Prime Minister Narendra Modi in association with National Payments Corporation of India (NPCI) at the time of Demonetization period. The application was introduced to encourage digital payment and cashless economy.
BHIM app is used for faster and secured money transactions. The application has its own unique way of working. Other mobile wallets such as Paytm, MobiKwik etc., transfer money only from application to application, whereas BHIM app also transfers the amount to the person who’s not even using the app. The money will be directly transferred to their bank account which will be linked to Aadhaar Card.
The authentication of the application is done in three simple methods- First, the application binds with the Mobile Number; a security login pin code is provided by the user and finally an authentication pin is generated to transfer the amount.
Within a month of its launch, the application was downloaded over 5 Million times. The application was only available for Google market when it was launched. In February the application will also be available in the iOS market as well. Read more BHIM news.