30 Dec 2016 18:45 IST

PM launches digital payments app

'Bharat Interface for Money' lets one make quick payments using unified payments interface

Prime Minister Narendra Modi on Friday launched a digital payments app 'BHIM: Bharat Interface for Money'. BHIM is an app that lets one make easy and quick payment transactions using unified payments interface (UPI).

All payments over BHIM are linked to one's bank account and the transactions can be implemented within seconds.

BHIM app is currently available on Android and iOS mobiles. For using BHIM, a person's account need not be enabled for mobile banking. Only the mobile number has to be registered with the bank. To enable transfers directly using a person's bank account, one's bank needs to be live on UPI platform. All the banks, which are currently live on UPI, have been listed in the BIM app.