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13 things you need to know about BHIM App for Digital Payment

Prime Minister Narendra Modi on Friday launched an Aadhaar-based mobile payment application BHIM App at Digi Dhan Mela to promote and make digital transactions easier.

Here are 13 things you need to know about the BHIM app for digital payment:

  1. What is BHIM: Bharat Interface for Money (BHIM) is an initiative to enable cashless payments through your mobile phone. BHIM is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts. BHIM is developed by the National Payment Corporation of India (NPCI).
  1. How it works: BHIM can be downloaded for Android phones from the Google Play and is downloadable at the link https://play.google.com/store/apps/details?id=in.org.npci.upiapp.  One has to register a bank account with BHIM, and set a UPI PIN for the bank account. Your mobile number is your payment address (PA), and you can simply start If your mobile number is already registered with UPI, you are good to go.
  1. How to send or receive money: One can send money to or receive money through a mobile number or payment address. Money can also be sent to non UPI supported banks using IFSC and MMID. You can also collect money by sending a request and reverse payments if required. One can check your bank balance and transactions details on the go. You can create a custom payment address in addition to your phone number. You can scan a QR code for faster entry of payment addresses. Merchants can easily print their QR Code for display. Thus BHIM will act as a rival to Mobikwik and Paytm.
  1. QR Code: You can scan a QR code for faster entry of payment addresses. Merchants can easily print their QR Code for display.
  1. Transaction Limits: BHIM accepts a maximum of Rs 10,000 per transaction and Rs 20,000 limit within 24 hours.
  1. Language supported: Hindi and English. More languages coming soon!
  1. Supported Banks: 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.
  1. Compatible OS: Bharat Interface for Money app is currently available on Android (Version 8 and above) and iOS mobiles (Version 5 and above).
  1. Essentials for BHIM: To start using Bharat Interface for Money one needs to have a Smartphone, Internet access, an Indian bank account that supports UPI payments and a mobile number linked to the bank account.
  1. How to setup a BHIM PIN: One can set your UPI PIN by going to Main Menu -Bank Set UPI-PIN for the selected account.
  1. Bank support: Currently, Bharat Interface for Money supports linking of one bank only. At the time of account set-up, one can link a preferred bank account as the default account. In case you want to link another bank account, you can go to Main menu, choose Bank Accounts and select your default account. Any money that is transferred to you using your mobile number or payment address will be credited into your default account.
  1. Mixed customer reviews: While some people have praised the user interface, few are complaining of time taken to process a command. Sreenath Menon said – “Errors – Unable to add bank accounts. Sometimes it’s showing transaction declined message even before linking the bank.” Sanjay Swamy: The best #UPI app – simple and does one thing well – send & receive money. Great work!
  1. Charges for BHIM: There are no charges for making transaction through Bharat Interface for Money. However, banks might levy a nominal charge as UPI or IMPS transfer fee. 
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