PM Narendra Modi has made available for download BHIM UPI app for all those smartphones running iOS and Android platforms. As said before that the newly launched United Payments Interface-based UPI app called BHIM (in short: Bharat Interface for Money) is a straightforward app, which would allow anyone to make simple digital payments directly from supported bank accounts, and is already up to grab on Google Play Store and iOS App Store for free-of-charge.
BHIM app downloads has crossed over 2 million times and only goes live on Google Play Android Store and soon to launch it on iOS as well.
Here’s the way BHIM app works?
Soon after the demonetization of old currency notes in the country, the Indian Government has been pushing cashless payments via digital mediums. Although, the govt has also been holding ‘Digi Dhan Mela’ camps in different cities to educate and promote cashless transactions. Finally, the PM of India has indeed launched a rebranded version of UPI app at the camp in Delhi. Called ‘BHIM’, which originally stands and the app is developed by the National Payments Corporation of India (NPCI) and rolled out to all those smartphones users running their devices on Android via Google Play.
Remind you that UPI apps went live earlier in August 2016 with 21 banks. The payments interface was integrated into the banking apps with other features though. The BHIM app, this time, comes with a simple interface that has built-in for ease of use. Its size is about 2MB. On starting the app, you will be asked to give permission to sent an SMS and register your phone number. Once done, you will be asked to set a 4-digit passcode, and then choose your bank. This is what BHIM app is.
With the BHIM app, anyone installed it on their smartphones can send or request money through the app and also make a digital payment. While the app is linked to your bank account, so you don’t have to load money in it unlike a Wallet, and a merchant does not have to worry about transferring money back to their bank accounts.
How to use BHIM app?
After downloading BHIM app, you’ll have to register your bank account through the app itself. Set a UPI PIN. You mobile phone number will be your payment address, and you can start transacting. Through the app, you can send or receive cash to a phone number, check balance, or scan a QR code to make a payment without sharing a phone number.
Using BHIM app, money can also be sent to non-UPI banks through IFSC, like you do with normal netbanking and online payments. You can also get an option to create your customized UPI address, which could be your nickname or full name.
What if you have an account in two or three different banks?
You can easily switch between banks in just a few clicks. On the homescreen, you have ‘my information’ section, from where you have to share Bank Account. Once it opened a new screen givies you details about your existing bank account, option to change or reset PIN and request for account balance. With BHIM app on your registered phone number can use multiple banks. On top right corner, you have three dots to switch to a different bank account.
The UPI is built on top of Immediate Payment Service (IMPS), and the transaction takes place within seconds. The best part is that the payment system works 24 hours a day, 7 days a week and 365 days an year. Limitations? You can transfer up to a low as Re 1 and a maximum of Rs 20,000 per day. In a single transaction you can even transfer a maximum of Rs 10,000.
Banks support the BHIM App:
All the major banks are literally supported by this app – as long as the bank supports UPI, you’ll be able to access your money through the BHIM app.
The list of banks supported by BHIM app are as follows:
- Allahabad Bank
- Andhra Bank
- Axis Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Catholic Syrian Bank
- Central Bank of India
- DCB Bank
- Dena Bank
- Federal Bank
- HDFC Bank
- ICICI Bank
- IDBI Bank
- IDFC Bank
- Indian Bank
- Indian Overseas Bank
- IndusInd Bank
- Karnataka Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- Oriental Bank of Commerce
- Punjab National Bank
- RBL Bank
- South Indian Bank
- Standard Chartered Bank
- State Bank of India
- Syndicate Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
BHIM, is indeed a simplified app for UPI payments. You get to choose between the UPI app offered by your bank or can choose to use BHIM. The app also includes Unstructured Suppllementary Service Data(UUSD) based platform that makes transactions as simple as checking the account balance of your prepaid mobile number. There’s still Aadhaar Payment app for merchants, which only allows you paying money using your Aadhaar card and fingerprint.
(Download: BHIM Android App For Free On Google Play Store)
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