The 11.63 million transactions in July was the first time that the volume of transactions crossed the 10 million mark.
The Government will launch within a month two schemes, the Referral Bonus Scheme for individuals and cash back Scheme for merchants to promote Bhim.
The Bhim application has just gotten updated to version 1.2, and users can download the update from the Play Store.
By both volume and value, only a fraction of cashless transactions are conducted through UPI.
The Bhim app has been updated to version 1.1. This is just the first of many updates, promised to add more features and squash bugs.
A step by step guide on using the Bhim application, along with a look at the security features and the advantages offered by the app and its shortcomings.
The transactions are made using Unstructured Supplementary Service Data (USSD), and can be done using the National Unified USSD Platform (NUUP).