BHIM App: Here Is Your 10-Point Guide For Using It

The BHIM app has become India's most downloaded free Android application, just days after its launch by Prime Minister Narendra Modi. To boost digital payments, PM Modi on Friday launched digital payments app 'BHIM', aimed at boosting digital payments in India. BHIM or Bharat Interface for Money is a payment platform that lets you make quick payments using Unified Payment Interface or UPI. “We have been witnessing a surge in downloads. Volume growth would be seen in a few days,” said AP Hota, MD & CEO of NPCI, which has developed the app.

Here are 10 things to know about app BHIM:

1) The BHIM app is currently available on the Android platform. The version for Apple devices or iOS platform is expected to be launched soon. BHIM has been developed by the National Payment Corporation of India (NPCI).

2) BHIM uses the Unified Payment Interface (UPI), which is an instant payment system also developed by the National Payments Corporation of India (NPCI). UPI is built over the IMPS infrastructure and allows you to instantly transfer money between bank accounts.

3) There are no charges for making transactions through the BHIM app. But your bank might levy charge as UPI or IMPS transfer fee.

4) Your bank account need not be enabled for mobile banking for using the BHIM app. However, your mobile number will have to be registered with the bank.

5) Currently, BHIM supports linking of one bank account only. At the time of account setup, you can link your preferred bank account as default account. In case you want to link to another bank account, you have to go to the main menu, choose the bank account as your default account. Any money that is transferred to you using your mobile number or payment address will be credited into your default account.

6) After you download the BHIM app, it will verify your phone number. After the verification it will ask for setting up a BHIM PIN. You need to select the bank pertaining to your account and the app will automatically fetch your bank account details.

7) For sending money, you need to enter the phone number of the person who is going to receive the money. If an UPI/BHIM account has been set up against that number, you can send money to that payment address. If there is no number or UPI ID, you can also send the money using bank account and IFSC code.

8) Besides sending and receiving money, you can also check your bank balance and transactions details through the BHIM app.

9) Customers can also download the QR code corresponding to their payment address. Merchants can easily print their QR Code for display.

10) The maximum limit for single transaction is Rs 10,000 and overall Rs 20,000 within 24 hours.