BHIM UPI transactions rises to Rs 1 trillion in FY18 

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BHIM AppBHIM (Bharat Interface for Money) has achieved another milestone as far its transactions are concerned. The app reached approximately 913 million in volume and close to Rs 1 trillion in value during Financial Year 2017-18 said the National Payments Corporation of India (NPCI).

Unified Payments Interface (UPI) allows consumers to transfer funds between bank accounts and mobile phones. Over the last few months, this mode has witnessed surge owing to smartphone-based payment applications like Paytm, Flipkart’s PhonePe, Google Tez and Whatsapp.

BHIM app transactions touched 9.9 million mark in February 2018 and total value associated with

The number of transactions on Bharat Interface for Money (BHIM) UPI app was 9.9 million for the month of February 2018, and the total value of the transactions stood at Rs 4,011 crore.

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