The Indian government under Prime Minister Narendra Modi has revealed a mobile app, called Bharat Interface for Money (BHIM), that's intended to work as a full alternative to cash payments. BHIM can operate in place of credit cards and point-of-sale terminals.
Users will send payments over the internet to a mobile number, which functions as the payment address. To get up and running, you need to link your bank account with the app, set up a PIN, and use your mobile number.
It's also possible to create a custom payment address.
BHIM works with all banks and remains useful even if you have multiple accounts from different banks. Users can spend up to $300 per day.
This app is destined to replace all cash transactions. BHIM app will revolutionize India and force people worldwide to take notice,- Modi
QR code support is included, which make transactions at businesses easier.
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