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BHIM UPI Indias Leap Into Digital Payments (1) Processed (Lightpdf - Com) 2

BHIM UPI is India's official digital payments app that facilitates fast and secure money transfers, promoting financial inclusion. Launched by the government, it has seen significant growth since 2016, especially in rural areas, despite facing competition and challenges in marketing and user experience. The app aims to integrate with future technologies like CBDC and enhance merchant tools, driving India's digital economy forward.

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Advit Arora
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19 views10 pages

BHIM UPI Indias Leap Into Digital Payments (1) Processed (Lightpdf - Com) 2

BHIM UPI is India's official digital payments app that facilitates fast and secure money transfers, promoting financial inclusion. Launched by the government, it has seen significant growth since 2016, especially in rural areas, despite facing competition and challenges in marketing and user experience. The app aims to integrate with future technologies like CBDC and enhance merchant tools, driving India's digital economy forward.

Uploaded by

Advit Arora
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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BHIM UPI: India9s Leap into

Digital Payments
BHIM UPI revolutionizes digital payments, making transactions easy and
accessible. It empowers every Indian with fast, secure money transfers
on their phone.

BY : Verma
By: Vihaan ADVIT VIVEK ARORA
ROLL
Roll No:12319 NO : 10327

COURSE : BCOM HONS


Course: B.A Program(economics+commerce)
What is BHIM UPI?
Meaning Origin
Bharat Interface for Money, India's official digital Launched by Government and developed by NPCI for
payments app. inclusive growth.

Foundation Inspiration
Built on UPI platform enabling real-time bank-to-bank Inspired by Dr. B.R. Ambedkar¾s vision of financial
transfers. inclusion.
How BHIM Works
Setup Features

Register with mobile number linked to bank account. Send or receive money via VPA, QR code, or phone
number.
Create a secure UPI PIN for transactions.
Check bank balance instantly.
Offline payments through USSD services.
Adoption & Reach
Growth
From launch in 2016 to millions of users today.

Government Support
Cashback schemes and BHIM Aadhaar boost adoption.

Rural Impact
Strong penetration in rural and semi-urban India.

Competition
Competes with private UPI apps but with public trust.
Security Features
Authentication Encryption Device Binding Regulatory Support

Two-factor authentication UPI PIN is encrypted and Payments are locked to Guidelines from RBI and
for robust security. never shared. registered devices. NPCI ensure compliance.
Key Use Cases

G2P Payments Utility Bills Merchant


Government Pay electricity, water,
Payments
disburses funds and other bills Use QR codes for
directly to citizens. instantly. safe store shopping
payments.

P2P Transfers
Send money to
friends and family
with ease.
Impact on Financial Inclusion
Bringing Banking Access
Reaches unbanked populations digitally.

Cashless Growth
Promotes a cashless economy in Tier 2 and 3 cities.

Jan Dhan Yojana Support


Links accounts to streamline government benefits.

JAM Trinity
Combines UPI, Aadhaar, and Mobile for inclusive growth.
Challenges & Criticism
Limited Marketing
Lags behind private competitors in promotion.

Feature Delays
Slower rollout of new capabilities.

UI Constraints
Needs better user interface and experience.

Market Share
Smaller share despite early advantage.
The Future of BHIM
CBDC Integration
Potential link with digital rupee payments.

Cross-border Payments
Expansion to international UPI transactions.

Merchant Tools
Enhanced business features and loyalty rewards.

UI & AI Support
Modern app design and smart assistance.
Conclusion
BHIM is more than just an app. It¾s a movement. It drives India's path towards digital and financial inclusivity. Every tap propels
India forward, empowering millions nationwide for a stronger economy and brighter tomorrow.

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