The national payments corporation of India (npci) inaugurated the BHIM upi 2.0. Bharat interface for money or BHIM is going to get a new upgrade. The name is BHIM upi 2.0. With this update, many new features are going to come. After demonetization, upi has gained popularity as a substitute for cash transactions.
Some top banks in India are members of BHIM UPI (such as icic bank, idbi bank, rbl bank and yes bank).
What’s new in BHIM UPI 2.0.
Earlier on fixed and savings accounts can only be linked with BHIM. But with the new 2.0 update, customers can now link their overdraft (od) account with BHIM.
Another new feature has been added in BHIM 2.0. Which is the invoice to inbox feature? Through this feature, users can view merchant credentials to verify authenticity before payment. This functionality is available for currently verified merchants invoice.
Now BHIM users can see merchant’s credentials using QR code.
The last feature is different from everyone. Which is the mandate feature? Which allows users to specify a payment after a promise at the present time. But this feature can only be executed at a time.
what are the records of BHIM?
BHIM launched in April 2016. BHIM has become the most popular money transfer method as per npci. The only BHIM recorded 235 million transactions in July. Which is worth 45845 crores.