Blog

Everything You Need to Learn the BHIM APP – The New UPI-Based App


January 9, 2017 Facebook Twitter LinkedIn Google+ Blog,Everything Else,New Launches


To the surprise for the people of India, Prime Minister Mr. Narendar Modi has announced the release a new application, named BHIM that stands for Bharat Interface for Money. It is an application to boosting Cashless economy to make India financially stronger and free of corruption. Isn’t this new-year gift remarkable? Now, you must be having a desire to know more about this application. Let’s look at it. This article will answer almost all the questions associated with the BHIM app that may be rising in your mind.

Isn’t this new-year gift remarkable? Now, you must be having a desire to know more about this application. Let’s look at it. This article will answer almost all the questions associated with the BHIM app that may be rising in your mind.

What is BHIM?

Some call BHIM as a rebranded version of UPI (Unified Payment Interface). Whereas, others consider it as an application to accomplish quick, easy, and secured digital transactions. BHIM is a digital payment solution application based on the UPI from the NPCI. Through this application, you can use transfer money simply by using a thumb.

This digital payment solution application is designed on the basis of UPI from NPCI. To use BHIM, you need to sign up for UPI-based payments on your bank account. The bank account will be linked to your mobile phone number and you can easily access the application to complete the digital transactions.

The next question that comes up is why this app was released.

Why BHIM APP?

BHIM is the name given after Babasaheb Dr. Bhimrao Ambedkar. The objective of releasing this app is to uplift poor with the help of the power of technology. Plus, to make India cashless, eradicate corruption with the use of cash money, and strengthen the economy of India.

The technology used in this application is fingerprint technology. Initially, people use the thumb impression for legal purposes. However, the release of BHIM has turned this into an instrument of personal empowerment. The most suitable phrase that can be quoted here is: Your thumb is now you bank and portrays your identity.

BHIM is used to send and receive funds to another UPI accounts or addresses. The ones who do not have the UPI-based bank account can also send money through IFSC and MMID codes. The most exciting feature in BHIM is that you can create your own QR code for a limited amount. Now, this QR code can be scanned to make the payments.

Post getting answers to what and why next is How to install and use BHIM in your smartphone.

How to Download and Install BHIM APP?

You can download the BHIM app released for Android mobiles from the Google Play Store. To set up the application, follow simple steps given below:

1. Go to Google Play Store for BHIM APK and type BHIM App in the search box.

2. Click on the Install button and wait until the Download is completed. The application will be automatically installed on your mobile phone. After the App has been installed, the below screen appears:

1

3. Select the language of your choice and click the Next button. The welcome screen appears:

2

4. Click the Next button and the below screen appears:

3

5. Click the Next button and finally, the last screen appears, as shown below:

4

6. Now, to access the application, click the Let’s Get Started button.

How to Use BHIM APP?

Steps to use BHIM are:

  1. Download and install the application on your Android smartphone. See the previous section for this step.
  2. Click the Let’s Get Started button and verify your mobile number. Once the mobile number is registered, enter the passcode. 
  3. Next, you are shown the screen to select the bank.
  4. Select a Bank.
  5. Verify the mobile number. You will receive a message.
  6. After receiving the message, use the same number to link the bank account.
  7. Enter the 4-digit passcode in the BHIM app; you have received this passcode in the message.
    1. Tip: Use the passcode as a number that you will not forget easily.
  8. Select the bank and if your account is UPI activated, the relevant number will be reflected.
  9. The options to send and receive money will appear and now you can transact through IFSC.
  10. However, if UPI is not activated, simply enter the last six digit number of your debit card and the expiry date. Post this, you will be able to use the application.

List of Banks Supporting BHIM APP

Listed below are the banks that support BHIM:

  • Allahabad Bank
  • Andhra Bank
  • Axis Bank
  • Bank of Baroda
  • 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

How to check whether or not your Bank supports UPI?

You can contact your bank representative to check whether or not your bank supports UPI. In August 2016, when UPI was live the banks that supported BHIM were:

  • Andhra Bank
  • Axis Bank
  • Bank of Maharashtra
  • Bhartiya Mahila Bank
  • Canara Bank
  • Catholic Syrian Bank
  • DCB Bank
  • Federal Bank
  • ICICI Bank
  • TJSB Sahakari Bank
  • Oriental Bank of Commerce
  • Karnataka Bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Punjab National Bank
  • South Indian Bank
  • Vijaya Bank
  • YES Bank

Post this, HDFC Bank’s Android application also supported UPI. The count of banks increased to 30. In the month of November, State Bank of India’s UPI supported application known as SBI Pay went live.

Till now we have discovered a plethora of advantages, let’s now look at disadvantages.

Disadvantages of BHIM

Certain limitations of BHIM app are as follows:

  • Allows to add one bank account at a time.
  • Allows to have only two Virtual payment address. This first one will be default containing your mobile number as well as can set the second VPA.

Apart from the disadvantages listed above, look at the improvements required in BHIM.

  • You should be given the flexibility to enlist multiple bank accounts.
  • The application should provide the facility of retrieving the mobile number from your contacts list.
  • You should have a feature to capture QR code that is shared with you. Presently, you cannot scan the QR code.
  • A few banks are not named in the list.

These are a few features that can be added to BHIM app.

Future Prospects of Online Shopping In Rural Areas through BHIM

Alike other digital payment platforms such as PayTM, BHIM will also allow you to purchase online. Through this application, you will be able to purchase exciting products of your choice such as clothes, accessories, mobiles, and more. It is most awaiting that you will be purchasing the products online even in rural areas. Download this application from Play Store and make online payments as and when required.

Is it safe to do Digital Transactions through BHIM APP?

It was considered that release of UPI would result bitter for mobile wallets. Through BHIM money is openly transferred from one bank account to another without any switching charges. Therefore, there is a possibility that some of your money is illegally transferred from bank account to mobile wallet and vice versa. Further, the transfer from one bank to another as mobile wallets is widely accepted; however, is risky and fishy. Security is also restricted in this application as illegal transactions can be performed.

Is BHIM another mobile wallet?

The answer to the question is No. You can store the limited amount of money in the wallet such as PayTM or MobiKwik and can transfer the same to the ones who are using the same wallet. However, BHIM is a UPI-based application that is linked directly to the bank account. You simply require the bank account and virtual payment address. With the help of this, you can make the payment or digital transactions.

What Makes BHIM unique from other mobile wallets?

BHIM allows you to transfer money through IFSC and MMID along with non-UPI banks. This depicts that government has concluded to work with a single application that will enable digital payments through UPI.

Presently, BHIM can be installed only on Android smartphones and no other mobile platforms or Apple devices. The payments to be made using Aadhaar card for BHIM is yet to be rolled out completely.

Using BHIM you can also send the fund simply by typing the mobile number or VPA address. The payee will be verified, post that you need to type the amount and pay. If the UPI is not available on the payee; click on three dots and click the send money option. The Account and IFSC option will appear where you can enter the details.

Download, install, and use the BHIM app now!! Go through the article again to get sufficient information.

You may also like to read these posts

Comments