Try GOLD - Free
BHIM transactions high-value, but volumes lag rivals
Business Standard
|January 17, 2023
Though the Unified Payments Interface (UPI) has been a success for the government, its own app has failed to sustain interest.
The Bharat Interface for Money or BHIM, which accounted for a quarter of transactions carried out using UPI within a year of launch in 2016, has a minuscule share of 0.76 per cent of the *86.9 trillion worth of UPI transactions now.
It lags rivals Google Pay and PhonePe by a huge margin, with the two accounting for 86 per cent of the market.
Thus, it's no surprise that the government made another attempt to revive BHIM's fortunes. Last week, the Union Cabinet approved a financial incentive of
This story is from the January 17, 2023 edition of Business Standard.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business Standard
Business Standard
Raymond lines up ₹1K cr investment for Andhra
The Raymond Group will set up two global manufacturing units in Anantapur district in Andhra Pradesh at a cumulative investment of around ₹1,000 crore, a move which will strengthen the company's foothold in aerospace and automotive sectors.
1 min
October 08, 2025
Business Standard
9th edition of India Mobile Congress begins today
PM to inaugurate four-day event
1 min
October 08, 2025
Business Standard
Cracks on the screen
A growing ad market, an evolved advertiser, and a metric that works are what TV needs to pull itself out of its downward slide. That appears to be a tall order
5 mins
October 08, 2025
Business Standard
Cracking pollution
Green fireworks are not a solution
2 mins
October 08, 2025
Business Standard
From Buyer to Maker India's Transformation in Defence Capability
Air Force Day honours valour and celebrates India's rising defence ecosystem, where indigenous platforms and global partnerships reshape national security
4 mins
October 08, 2025
Business Standard
LG and WeWork set the tone for busy IPO week
Tata Capital's issue subscribed 75% so far
1 mins
October 08, 2025
Business Standard
Margin heat may take a bite out of Jubilant
Stock faces pressure as costs rise and valuations stay steep
2 mins
October 08, 2025
Business Standard
FM warns against weaponisation of technology
Asks fintechs to focus on trust, financial inclusion
2 mins
October 08, 2025
Business Standard
The small picture
Behind the rise of govt capex are a few subtle trends that need to be examined a little more closely
4 mins
October 08, 2025
Business Standard
Noel, Chandra meet Shah, Sitharaman amid rising tension at Tata Trusts
The latest crisis was triggered by the ouster of Trusts nominee director Vijay Singh from the board of Tata Sons through a vote among trustees, citing a retirement age of 75 years. Singh, a former defence secretary, is also vice-chairman of Tata Trusts.
1 min
October 08, 2025
Translate
Change font size