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BHIM App: A next step to cashless economy

After a huge step of demonetization there is another master stroke by PM Narender Modi. On 30 December our PM launches a new app called BHIM for digital money transactions. This app is UPI (United Payments Interface) based app which allow anyone to transfer payments through Digital Medium.

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“BHIM app stands for Bharat Interface for Money – is named for Dr BR Ambedkar“, said the PM. This app is developed by National Payments Corporation of India (NPCI). This app is 2MB in size and available on Google Play Store for Android Users. For the time being, IOS and Windows mobile users are out of the game. But soon it will be available for them also.

BHIM app is not a another Wallet app. You don’t need to store money in your app wallet for transactions. Also there is no issue of, both the persons must have same app to transfer money. BHIM is based on UPI, which is the Universal Payments Interface and thus linked directly to a bank account. Your friend, relative or even a merchant who you’re trying to pay doesn’t necessarily need to be on the BHIM app. All they need is a bank account to receive the payment.

In our PM Narender Modi words “Be it a smartphone or a feature phone of Rs 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 chhaap’. That has changed. Your thumb is your bank now.”

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Everything you need to know about BHIM app.

  • BHIM app directly link to your Bank Account with help of your registered Mobile Number. Anyone having Bank Account can easily transfer money and request for money. By default, your registered mobile number is your UPI address. But you also have a option to change it with your name or any other user_name.
  • User can also generate a QR-Code with the app. Scan this QR-Code to send or receive the money.
  • You can use BHIM app, even if you don’t have Smartphone and Internet Connection. You need to dial *99# from any kind of mobile phone, and this will show a menu – by typing in different numbers you can choose to send money, check your balance, or see transaction history.
  • User can also switch between the accounts easily. If you have different accounts in different banks you can easily switch among them with few clicks.
  • Maximum amount you can transfer in a day is to Rs. 20,000. In single transaction you can transfer upto Rs. 10,00.
  • The payment method use by BHIM is IMPS (Immediate Payment Service) which will transfer your money in seconds. Most of all this service is available all the time, no matter what.
  • All UPI-connected banks accept BHIM. This includes all major Indian banks including SBI, ICICI, Axis, and HDFC. Even banks not connected to UPI can receive money through BHIM through IFSC, an 11-digit code assigned to every bank branch by the Reserve Bank of India.

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It’s great step by our PM because not every Indian have Smartphone. Even in some places there is no Internet Connection. So, this app helps alot of Indian’s to put a step forward to cashless transactions.


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