While appreciating the Indian citizens for their co-operation on demonetisation policy, Prime minister Narendra Modi introduced a new digital payment app named Bharat Interface for Money (BHIM) on Friday (December 30, 2016). This app is developed by the National Payments Corporation of India (NPCI).
PM Modi launched this app to facilitate fast, secure and reliable cashless payments via mobile phones meanwhile, boosting digital payment trend in India.
PM Modi addressed:
Be it a smartphone or feature phone of INR 1,000 – 1,200, BHIM app can be used. There is no need to have Internet connectivity.
One only needs a thumb. There was a time when an illiterate was called ‘angutha chhap’. Now, time has changed. Your thumb is your bank now. It has become your identity now.
THE BHIM APP
The app brings UPI (Unified Payments Interface) and USSD (Unstructured Supplementary Service Data) based payments together on one platform. This allows digital payments to take place directly through the bank account.
In addition to that, it also supports Aadhar-based payments where one can do transactions just with their fingerprint impression. However, this facility is not available as of now.
Currently, the BHIM app is available only on Android while leaving iOS and Windows mobile users.
HOW BHIM APP WORKS?
All you have to do is just register your bank account with BHIM and set UPI PIN for the bank account. Once registered your mobile number will be your payment address and you are ready to do transactions.
Here are the steps to register your account:
- Firstly download the app from Google play store or download using this Link: BHIM APP.
- Install the downloaded app.
- Once you open the app, it notifies you to select the appropriate language of your choice. (Currently, only Hindi and English languages are available. However, NPCI has assured to add more regional languages soon). Choose the language and click Next.
- The app then asks for your phone number to send an SMS to verify with UPI. Enter it and get your Mobile verified.
- Once verified, it will ask you to choose your 4-digit UPI pin code/passcode.
- Now select the bank from the list and input your account number.
- Then it will show a screen with options – Send, Request and Scan & Pay which you can use as per your requirements.
However, if you are already having UPI VPA (Virtual Payment Address) account, the process may stop unless you unlink your previous VPA.
Not everyone has an Android mobile. There still exist a lot of basic mobile phone users. Such users need not worry as they can access the interface behind the BHIM app via USSD by dialling *99#. And this method doesn’t need an internet connection to use the core functionality of BHIM app.
The advantage of using BHIM app is that there isn’t a need to remember your account number or share it with others. It just needs VPA to do transactions.
At present, users are allowed to access a maximum of Rs 10,000 per transaction and a total of Rs 20,000 within 24 hours.