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The National Payments Corporation of India (NPCI) on Wednesday introduced the BHIM app open-source license model, under which the source code of the BHIM App will be licensed to regulated entities that do not have a UPI app of their own.
Currently, a large number of banks do not have a mobile banking app and by licensing the source code of the BHIM app to such banks, NPCI wants to bridge this gap by extending all the readily available features of UPI to these entities which will be an economical and quick-to-market solution for these entities. Presently, these banks are missing out on extending the benefits of the country’s largest retail payment system – UPI, to their customer base.
“Further, under this model new features that get launched on BHIM App in the future, will also be extended to these entities for them to continue accessing the BHIM app’s latest features,” NPCI said in a statement.
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