Bhim app: As per latest reports, BHIM users are very disappointed as they are unable to find ways of transacting. The NPCI is impatient with the E-commerce platforms as well as merchants to due to the slow usage of the UPI. The major online shopping sites like Amazon, Flipkart, and payment platforms like Paytm and IRTC are taking longer to integrate Bhim app. Meanwhile, the Flipkart introduced the UPI transactions for its own mobile wallet called PhonePe.
The shopping giant in currently in the process of widening its rollout for the same as it has only rolled out to 5%. Snapdeal owns the mobile wallet FreeCharge and only uses UPI transactions for topping up of the money within the wallet. The NPCI Managing Director AP Hota also expressed unhappiness. This was with the nearly 70000 daily transactions that the UPI platform was seeing prior to the Bhim app launch.
Users disappointed With Slow Usage of UPI Mode of Bhim App:
The demonetization issue surged the UPI transactions Rs 700 crore in the month of December last year. In the month of November, it was Rs 90 crore. However, it is still said that only a fraction of cashless transactions is happening via UPI. In the last week over 400 merchants have already signed up for the UPI. Now there are a few travel sites as well as a few ticketing sites who have also taken up the payment mode. The top 15 merchants who are utilising the UPI platform do not happen to be the country’s top merchants. As per the NPCI, the eCommerce websites state that they are still in the process of talks with banks in order to implement UPI. This is each time the NPCI asks the online sites about an integration of the UPI.
The Prime Minister has launched the Bhim app on December 30, 2016. All the banks who signed up for this payment platform can transact directly through the Bhim app through their accounts. Several banks launched their own apps too. New banks are being added on. The NPCI itself has launched the Bhim app for all cashless transactions.