After demonetization of 500 and 1000 rupee notes, Indian government took another great initiative towards digital payment system. Prime Minister Narendra Modi launched a new digital payment wallet BHIM (Bharat Interface For Money). Application is developed by NPCI (National Payments Corporation of India), as of now BHIM app is only available for Android phones but soon it will also be available for iOS and Windows. Currently BHIM is most popular free android app with rating 4.2 and overtaken some most popular android apps like WhatsApp, MyJio, Facebook Messenger. More than 1 million downloads has been crossed by BHIM app.

BHIM app will give great challenge to Paytm and MobikWik digital wallets. In other e-wallets like Paytm, Freecharge, MobikWik, etc. first you need to fill your wallet with some amount of money either from debit card or credit card and then only you could use these wallets for digital payments. But in BHIM app there is no such restriction because this is UPI based application and directly connected with your bank account. So using BHIM app you could do payment directly from your bank account and also receive money directly into your account. Application is UPI based so almost every major bank is associated with this application.

Another great thing is that BHIM uses IMPS (Immediate Payment System) facility which transfers money instantly. The maximum limit of BHIM in 24 hours is Rs. 20,000, but there is a limit of Rs. 10,000 per transaction. In coming future this app will become the greatest digital payment system in India.