Question
BHIM (Bharat Interface for Money) is an Indian mobile
payment app developed by the_______________________, based on the Unified Payments Interface (UPI).Solution
Government of India has clarified that there is no plan to levy any charges for UPI services. In a series of tweets, Finance Ministry said, UPI is a digital public good with immense convenience for the public and productivity gains for the economy. The clarification came amid some reports that there may be possibility of UPI transactions charge. The Ministry said, the concerns of the service providers for cost recovery have to be met through other means. It said, the government had provided financial support for the Digital Payment ecosystem last year and has announced the same, this year as well to encourage further adoption of Digital Payments and promotion of payment platforms that are economical and user-friendly. BHIM (Bharat Interface for Money) is an Indian mobile payment app developed by the NPCI, based on the UPI.
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