Bharat Interface for Money (BHIM)

Bharat Interface for Money (BHIM) is a digital payments solution app based on the Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments systems in India.


BHIM was launched on December 30, 2016  by Prime Minister Narendra Modi dedicated to Dr. B R Ambedkar at Digi Dhan Mela, to promote digital transactions using the Unified Payments Interface (UPI), a bank-to-bank fund transfer system backed by the Internet and smartphones, using phone numbers linked to banks.

Immediate Payment Service (IMPS)

Immediate Payment Service (IMPS) is an innovative real time payment service that is available round the clock. This service is offered by National Payments Corporation ofIndia (NPCI) that empowers customers to transfer money instantly through banks and RBI authorized Prepaid Payment Instrument Issuers (PPI) across India.

Unified Payments Interface (UPI)

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. 
It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.

NPCI conducted a pilot launch with 21 member banks. The pilot launch was on 11th April 2016 by Dr. Raghuram G Rajan, Governor, RBI at Mumbai. Banks have started to upload their UPI enabled Apps on Google Play store from 25th August, 2016 onwards. 

Aadhaar Enabled Payment System (AEPS)

Aadhaar Enabled Payment System (AEPS)  is a new payment service offered by the National Payments Corporation of India to banks, financial institutions using ‘Aadhaar’.
Aadhaar is a unique identification number issued by the Unique Identification Authority of India (UIDAI) to any resident of India.

Details:
  • AEPS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.

*99*99# service by National Payments Corporation of India (NPCI)

*99*99# is a USSD (Unstructured Supplementary Service Data) based value added service from NPCI that facilitates the customers to check the status of his/her Aadhaar number seeding/linking in the bank account. 

The service works across all GSM service providers and brings together the diverse ecosystem partners such as Banks & TSPs (Telecom Service Providers).

*99# service by National Payments Corporation of India (NPCI)

*99# is a USSD (Unstructured Supplementary Service Data) based mobile banking service from NPCI that brings together diverse ecosystem partners such as Banks & TSPs (Telecom Service Providers).
 
Details:
  • Using *99# service, a customer can access financial services by dialing *99# from his/her mobile registered with the bank. The service works across all GSM service providers and handsets.

Mobile Money Identifier (MMID)

Mobile Money Identifier is a 7 digit number, issued by banks. MMID is one of the input which when clubbed with mobile number facilitates fund transfer. Combination of Mobile no. & MMID is uniquely linked with an Account number and helps in identifying the beneficiary details.