NPCI Expects All Public Sector Banks to Join BHIM by End of February

The National Payments Corporation of India expects all Public Sector Banks (PSBs) to join Bharat Interface for Money (BHIM) by the end of this month.

BHIM is the common platform across the nation for making simple payment transactions using Unified Payments Interface (UPI).

As on date, 37 banks are a part of the BHIM platform including PSBs like State Bank of India, Bank of India, Bank of Baroda and Union Bank of India.

The PSBs which will go live very soon on the platform are Corporation Bank, Punjab and Sindh Bank and five associates of State Bank of India. NPCI is working with these seven banks to ensure that all of them are a part of the platform by the end of this month. Also read: Referral Bonus And Cash-Back Scheme to Boost BHIM Adoption

“Since the customer base of PSBs is very large, their participation in BHIM is of crucial importance for the success of this app. We are confident that once all PSBs are a part of BHIM, the user base will jump multiple times,” said A. P. Hota, MD & CEO, NPCI.

BHIM was launched on December 30, 2016, by the Prime Minister Narendra Modi.

According to a statement by NPCI, till January 31, 2017, 13.8 million customers downloaded the app out of which 3.6 million customers have linked the app to their bank account.

As observed by NPCI, the gap in the number of app downloads and the number of customers linking the app to their bank account has been because these customers have downloaded BHIM without checking if their bank is active on the platform.

Earlier this month a new version 1.2 was launched with additional features like pay to Aadhaar number’, SPAM report, improvised customer redressal mechanism with drop down menu.

The new version also has seven new languages apart from English and Hindi.Also read: Newly Launched BHIM App is Not Free; Here is Why?