Just in time for the new year, India's Prime Minister Narendra Modi has today officially launched the BHIM app, the country's new mobile payment solution. BHIM (which stands for Bharat Interface for Money) is India's bet to push the switch to a cashless economy, requiring nothing more than a smartphone to make any sort of transaction.

On stage at the DigiDhan Mela in Delhi, Modi used a Google Pixel to showcase the app, demonstrating how easy it is to send money to anyone in just seconds with nothing more than a phone number or payment address. After plugging in the recipient's identification, validating the transfer is a simple matter of typing in a pin code or using fingerprint authentication.

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