What are UPI and BHIM?

UPI (Unified Payments Interface) is a real-time payment system developed by the National Payments Corporation of India (NPCI) that enables instant inter-bank money transfers via mobile devices. BHIM (Bharat Interface for Money) is the official digital payment application based on the UPI infrastructure.

• UPI serves as the underlying technology protocol that facilitates seamless fund transfers 24/7.
• BHIM is a specific mobile app developed by NPCI to promote financial inclusion and digital payments across India.
• Both platforms allow users to send and receive money using a secure UPI ID or QR code.