US tells India it is mulling caps on H1Bs to deter data rules
Master Card and Visa are failing, because we have something better in place.<p>BHIM (Bharat Interface for Money) developed by National Payments Corporation of India.<p>- Transferring money from one personal account to any new account (adding a beneficiary account) would take more than 4 hours.<p>- One needs to login each and every time to transfer money.<p>- There is a chance of forgetting password and account being locked on multiple tries.<p>- Extra charges for transferring money.<p>All this problems were solved by BHIM new UPI (Unified Payments Interface).<p>- Linking bank account with app (takes less than 1 minute)<p>- Transferring money doesn&#x27;t have any extra charges<p>- No password, but 4 to 6 digit pin for transaction.<p>- Safe, transaction can be done only from mobile which is linked with bank.<p>Additional benefits,<p>There is no need to give personal information, one can provide UPI address or Virtual UPI address.<p>In Google Pay app,<p>If my Gmail account is xyz@gmail.com<p>Then my UPI would be, xyz@ok{bankname}<p>If my bank is SBI,Then my UPI is xyz@oksbi<p>Mentioning this address, anybody can make a payment or request one.<p>Edit: Formatting