Know More About : BHIM ,Bharat Interface for Money, App?

Here are quick points to know about BHIM (Bharat Interface for Money) app launched today by Honorable Prime Minster of India:

• The app allows you to easily transfer money or make a payment from your bank account using only your phone number (SECURE SIMPLE SUPERFAST). 

ex : Just open the BHIM app , choose “send money”, and type in the amount and the receivers phone number to make the payment. The money will be debited from your account, and credited to the receiver's bank account which are linked by you and the receiver in the BHIM app.

• BHIM app is now available on Android ( download now ). Hoping Other OS versions will be launched soon.
• The app also allows you to scan a QR code. The sender can generate his QR code through the BHIM app. To pay , tap the Scan and Pay button in the app, and then scan the QR code.

• BHIM app can be accessed even without a smartphone. Just dial *99# from any phone and you can then choose options by dialing different numbers. More details on *99# product can be found here
• Anyone can use the BHIM app and receive money from a smartphone. If the user has linked a bank account and their Aadhaar ID, then use Aadhaar Pay
• You need to be aware of the following limits about BHIM :  Rs. 10,000 /transaction  and Rs. 20,000 /day.
• All major Indian banks are already connected through UPI and can be accessed through BHIM app. I enabled UPI connections on my ICICI bank account and was able to access it through BHIM for the first time

• Other indian banks like SBI, ICICI, ,HDFC connected through UPI can be accessed. Also if a bank is not connected to UPI than you can receive/send money through BHIM using IFSC code
• In mobile wallet app like Paytm you need to load money before you use it. But with BHIM app, you can directly connect your phone to your bank account and use it like a debit card anywhere as long you have sufficient balance in your account. No middleman or third party involved or no hassles of loading money before using it

If you have any further queries on BHIM app, then there is a good FAQ document that can be accessed through  https://upi.npci.org.in/static/faq/en_US/

Some of other screens that you will encounter during registration on the BHIM app are below