NPCI introduces Bhim app open source license model: What it is

National Payments Corporation of India (NPCI) has announced the launch of BHIM App open source license model with the aim of attaining the goal of ‘Digital Payments for All’. Under NPCI’s new model, the source code of BHIM app will be licensed to regulated entities participating in UPI ecosystem, who do not have UPI app of their own, to empower them to launch their own UPI app.
Presently, several banks in the country do not have their own mobile banking app and are missing out on extending the benefits of the country’s largest retail payment system – UPI, to their customer base. NPCI intends to bridge this gap by extending all the readily available features of UPI to these entities through the BHIM app licensing model which will be an economical and quick-to-market solution for such entities.

Further, under this model the new enhancements and improvements that get launched on BHIM app in the future, will also be extended to these entities for them to continue accessing the app’s latest features.
Recently, NPCI International Payments Ltd (NIPL), the International arm of the NPCI, announced that BHIM UPI is live at NEOPAY terminals, across the UAE. This initiative aims to empower millions of Indians who travel to the UAE, to make payments using BHIM UPI. NIPL and NEOPAY, the payment subsidiary of Mashreq bank, partnered in 2021 to create the acceptance infrastructure in the UAE.

With the acceptance of BHIM UPI in the UAE, Indian tourists can now make seamless payments through BHIM UPI across NEOPAY enabled shops and merchant stores. This partnership will play a key role in transforming the P2M payment experience for Indian travelers in the UAE.
UPI is an instant real-time payment system developed by the NPCI for facilitating inter-bank transactions. The simple, safe, cost-effective mobile-based payments system has become one of the most prominent forms of digital payments. In the Financial year 2022 (FY22), UPI enabled 45.6 Billion transactions.