BHIM App

Subject: Science and Tech/ Economy

Context:

The National Payments Corporation of India (NPCI) has issued a statement that there has been no compromise of data on the BHIM app, after Israeli cybersecurity firm vpnMentor’s claims that it had discovered a breach of personal records of around 7 million Indians used to onboard them to the mobile payment app.

Concept:

• Bharat Interface for Money (BHIM) is a payment app that lets people make simple, easy and quick transactions using Unified Payments Interface (UPI).
• Direct bank payments to anyone on UPI using their UPI ID or scanning their QR with the BHIM app.
• Pioneered and developed by National Payments Corporation of India (NPCI), BHIM has been to bring in Financial Inclusion to the nation and a digitally empowered society
• The BHIM apps has three levels of authentication. For one, the app binds with a device’s ID and mobile number, second a user needs to sync whichever bank account (UPI or non-UPI enabled) in order to the conduct transaction. Third, when a user sets up the app they are asked to create a pin which is needed to log into the app. Further, the UPI pin, which a user creates with their bank account is needed to go through with the transaction.