New Delhi: Indigenous mobile payment App BHIM (Bharat Interface for Money) was on Tuesday launched in Bhutan, the first country in the immediate neighbourhood to allow the Indian digital payment interface.
The App was jointly launched by Union Minister of Finance & Corporate Affairs Nirmala Sitharaman and Finance Minister of Bhutan, Lyonpo Namgay Tshering in a virtual ceremony.
With the launch, the payment infrastructures of the two countries will seamlessly connected and benefit a large number of tourists and businessmen from India who travel to Bhutan each year. This will enhance the ease of living and ease of travelling through cashless transactions, an official release said.
The initiative has been taken under India's neighbourhood first policy, Ms Sitharaman said.
Following the visit of Prime Minister Narendra Modi to Bhutan in 2019, the two countries have already enabled inter-operability in acceptance of Rupay cards.
The Finance Minister said that BHIM UPI in 2020-21 has processed 22 billion transactions worth a value of Rs 41 lakh crore. (UNI)