'BHIM-UPI- one of best achievements of India', says FinMin at launch of BHIM-UPI in Bhutan

BHIM-UPI is one of the achievements of India in terms of fintech in which India invested a lot & we've also encouraged our start-ups to come up with solutions. Therefore, BHIM-UPI stands out as one of the very good successful experiments that we've undertaken, said Nirmala Sitharaman at India Bhutan joint launch BHIM–UPI in Bhutan today.

 

 

"There couldn't be any better place to launch it (BHIM-UPI) because every Indian tourist who goes to Bhutan goes with such a warm feeling to the land of happiness", she added. BHIM is an Indian mobile payment app developed by the National Payments Corporation of India, based on the Unified Payments Interface.

 

 

With this partnership, the two South Asian nations will add a new milestone in financial integration between the two economies. The partnership will ensure both NIPL and RMA enable acceptance of Unified Payments Interface (UPI)-powered BHIM App in Bhutan.

 

 

 

The RMA will ensure that the participating NPCI mobile application through UPI QR transactions is accepted at all RMA acquired merchants in Bhutan. This new collaboration would help over 200,000 tourists from India who travel to Bhutan each year. Bhutan has become the only country to both issue and accept RuPay cards as well as accept BHIM UPI. Also, Bhutan will become the first country to adopt Unified Payment Interface (UPI) standards for its QR deployment.

 

 

The new digital payment mechanism would not only help the Indian tourists for transactions purposes, but also add value to lives of customers in Bhutan.

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