Bharat Interface for Money (BHIM)
Is a UPI based payment interface.
Developed by National Payments Corporation of India (NPCI).
Allows real time fund transfer.
Launched in December, 2016.
BHIM 2.0-supports three additional languages -- Konkani, Bhojpuri and Haryanvi -- over and above the existing 13.
Unified Payments Interface (UPI)
System that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also caters to the “Peer to Peer” collect request which can be scheduled and paid as per requirement and convenience.
Each Bank provides its own UPI App for Android, Windows and iOS mobile platform(s).
Introduced in 2016.
National Payments Corporation of India (NPCI)
NPCI is an umbrella organisation for operating retail payments and settlement systems in India.
Founded in 2008.
It is an initiative of Reserve Bank of India (RBI) and Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007.
It has been incorporated as a not for profit company.