Prime Minister Narendra Modi on Friday launched a UPI (United Payments Interface) based app called BHIM, short for Bharat Interface for Money. The BHIM app is a straightforward UPI app, which would allow anyone to make simple digital payments directly from their bank account.
UPI-based app allows anyone to pay or receive money through online banking, unlike a wallet where you have to first load the money before you can use it.
“Be it a smartphone or feature phone of Rs 1,000-1,200, BHIM app can be used. There is no need to have Internet connectivity,” says PM Modi. “One only needs a thumb. There was a time when an illiterate was called ‘angutha chchap’. Now, time has changed. Your thumb is your bank now. It has become your identity now.”
Also seeBHIM app in 10 points
What is BHIM app?
With the BHIM app, anyone can send or request money through the app to make a digital payment. The app is linked to your bank account, so you don’t have to load money in it unlike a wallet, and a merchant does not have to worry about transferring the money back to their bank account.
How can I get it on my phone?
Download the BHIM app by the National Payments Corporation of India (NPCI) on Google Play to start using the free Android app. The app will soon come to the iOS platform.
How do I use it?
After you download the BHIM app, you’ll have to register your bank account through the app, and set a UPI PIN. Your mobile number is your payment address, and you can start transacting. Through the app, you can send or receive money to a phone number, check balance, or scan a QR code to make a payment without sharing a phone number.
Money can also be sent to non-UPI banks through IFSC, like you do with normal net banking.
Does it work on feature phones?
Apart from an app, the interface can be accessed using USSD (Unstructured Supplementary Service Data) from feature phones – you will need to dial *99# to access it. With this method, an Internet connection will not be required.
Which banks support this?
All the major banks are supported by the BHIM app – as long as the bank supports UPI, you will be able to access your money through the BHIM app. The list of supported banks is: 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.
Are there transaction limits?
There is a maximum of Rs. 10,000 per transaction permitted, and Rs. 20,000 within 24 hours.
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