BHIM App

Bharat Interface for Money : BHIM App | Banking Awareness Material

Banking Awareness

Brief Note on BHIM APP

Reason Behind BHIM App :

India is advancing at breath-taking speed towards a cashless economy. To exhort ‘Digitization of Indian’ and to make digital mode of payment a habit for Indian citizens, our honourable Prime Minister Narendra Modiji has launched a new application for mobile payment called BHIM (Bharat Interface for Money) on the 30th of December 2016. Let us know more about BHIM App :

BHIM is a revolutionary Mobile Payment App designed to solve India’s digital payment woes and is named after Dr. Bhimrao Ambedkar. It has been developed by the National Payment Corporation of India (NPCI) in Association with JUSPAY. This app has been launched to make it easy for everyone to allow digital payments directly from the bank account.

The Bharat Interface for Money (BHIM) mobile app was launched by Narendra Modi on 30 December 2016 in New Delhi.The BHIM app is dedicated to Dr. Bhimrao R. Ambedkar

Platform : Android, iOS and Window mobiles

  • The app is based on the Unified Payments Interface (UPI) . It is an open platform and not a mobile wallet
  • Bank-to-bank payments and Pay and collect money using just Mobile number or Virtual Payment Address (VPA). 

Developer :

  • The app was developed by the National Payments Corporation of India (NPCI).

Available Languages :

  • Now available in 12 languages, it will be updated in other languages in future

How Does BHIM APP work ?

  1. Open your BHIM App.
  2. Enter the password to get access.
  3. Tap on QR Scan.
  4. Scan the QR Code of the next person.
  5. The details of that will automatically appear on the screen.
  6. Add the Amount to be transferred.
  7. Enter your UPI Pin.
  8. And click ‘Yes’ to allow transaction.

Process of Transaction :

We can send or receive money to different bank accounts with ZERO Transaction charges by using

  1. UPI payment addresses by dialling star99hash(*99#)
  2. Account number with IFSC(Indian Financial System Code) code or MMID (Mobile Money Identifier) Code
  3. QR (Quick Response) code for a fixed amount of money
  4. ‘Pay to Aadhaar Number’ – can transfer money to the Aadhaar number linked with beneficiaries’ bank account.

Limits :

  • Transaction limit per day is limited to Rs.20,000
  • Transaction limit per transaction is Rs.1 to  Rs.10,000
  • USSD(Unstructured Supplementary Service Data) transaction per day set at Rs. 5,000.Mobile operator may charge you up to Rs.1.50 per transaction.

Remarks :

  • The BHIM app has ‘SPAM Report’ for collect requests to block unknown persons requesting for money.

Also Read :

Notes on Bharat Bill Payment System

Notes on Immediate Payment Service

NEFT and RTGS : All You Need to Know

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