Indian mobile payment App BHIM to be launched in Bhutan today
BHIM app
India's e-payment gateway for cashless transactions, the BHIM app, will be launched in Bhutan today. BHIM or Bharat Interface for Money is developed by the National Payments Corporation of India (NPCI) and is based on the Unified Payments Interface (UPI).
The BHIM app will help Indian businesses and tourists in the country with cashless transactions and will give a flip to Bhutanese businesses as well.
BHIM is the second Indian payment gateway to be launched in the country after RuPay.
The year 2019 saw the RuPay card being launched in Bhutan during the visit of Indian Prime Minister Narendra Modi.
Phase 2 of RuPay was launched last year. RuPay is an Indian payment gateway like a visa or Mastercard and is now available in many countries in the region, like Singapore, Maldives, UAE, Bahrain, and Saudi Arabia.
India and Bhutan share very close ties, defined as a "special relationship".
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Amid the Covid crisis, India sent out medicines and vaccines to the country. Bhutan also reached out to India by supplying 40 metric tonnes of liquid oxygen to Assam.