India PM Narendra Modi has issued digital payments initiative throughout the country, by launching a new UPI-based app called “BHIM” – Bharat Interface for Money on Google Play Store. Here’s everything you need to know about the new online payments service through your mobile itself.
You can now download BHIM app on your Android device and soon be available for iOS users and iPhone smartphones as well. It aims to enable faster, easier and secured online payments via smartphone. Developed by National Payment Corporation of India (NPCI). Now that it seems like BHIM app has backed itself overtaking all other popular apps including WhatsApp, Facebook, MyJio and took the place on top of Google Play’s most trending applications list.
Named after Bhim Rao Ambedkar, this app is currently initiated in just Hindi and English languages, while the support for other speeches will be added gradually in the coming days. User can register their bank account with BHIM and set a UPI PIN for that account.
By the way, the registered mobile number will now become the main payment address when you transact through BHIM app. Limits! For larger transactions, you will still have to use a credit or debit card, or IFSC code or another form of NetBanking services, although, you can send or receive not more than Rs 10000 per transaction and up to Rs 20,000 per day for BHIM limitations.
These are those banks that support BHIM app including: State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, Bank of India, Canara Bank, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank and much more. Other ways you can send money to non-UPI supported bank accounts as well using IFSC and MMID.
It is also said that the app is being improved in the future for online transactions and payments, Modi also said that can be made by using a fingerprint (thumbprint). Currently only available for Android and will launch for iOS soon.
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