Indian Prime Minister Narendra Modi on Friday launched BHIM (Bharat Interface for Money) e-wallet app for digital transactions. BHIM is the rebranded version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data).
The BHIM app is being improved upon so that in time, "only your thumb will be needed to make a payment," said the PM, adding "you will eventually not be dependent on the internet, on smartphones, your thumb will be your bank."
PM said, “Prizes are given to those who make transactions of more than Rs 50 and less than Rs 3000 so that the poor can win. Over the 100 day period, several families will be given the prizes. These schemes were launched to benefit poor.”