BHIM app allows users to carry out several cashless transactions with the help of QR codes, mobile numbers, or bank accounts by creating a unique digital identity. The Bharat Interface for Money or BHIM app was invented on 30th December 2016 by Prime Minister Narendra Modi. The app aims to facilitate cashless and digital transactions post demonetization. More importantly, it encourages the idea of a ‘digital economy. The app derives its name from the father of the Indian Constitution, Dr. Bhim Rao Ambedkar- the BHIM application supports the Unified Payments Interface service or UPI services across several banks. Invented by the National Payments Corporation of India, BHIM remains a leader when it comes to creating a digital infrastructure to promote financial transactions across India.
What are the functions of the BHIM app?
BHIM app allows users to carry out several cashless and digital transactions- you can complete the transactions via your mobile number, bank account, QR code, or by choosing a unique digital identity that’s known as virtual payment address (VPA). With the help of a bank-registered phone number along with a bank ID, you can easily register via a unique VPA to receive payments or get payments done.
What are the tools required to operate BHIM?
If you’re a first-time BHIM app user, you should have a smartphone, a BHIM app installed on your iPhone or Android phones, a mobile number, a visa, RuPay, or Maestro debit card to get your VPA generated automatically. Upon registering on the app as a first-time user, you can easily use the ID to receive or make payments via Immediate Payments Service or IMPS between the two bank accounts or through your smartphone. The transactions can be carried out 24X7 either offline via USSD or Unstructured Supplementary Service Data or even online through a website. The GSM technology is implemented to send text messages.
What types of transactions can be carried out via the BHIM app?
You can use the BHIM app to complete different types of transactions- this can be done by businesses and individuals alike.
Benefits for consumers:
- Transfer money to family and friends free of cost
- Pay by scanning QR codes to make purchases- the QR codes are available at shops
- You can get your payment done online or go on a shopping spree by choosing the option ‘Pay via UPI.’
- Check transaction history and account balance
Benefits for merchants:
- Receive payments seamless and directly in your bank accounts, at zero cost
- Download QR codes and send them through digital mediums. You can display the QR codes at the front of your store to allow the consumers to make payments.
Features of BHIM app
- Allows you to use the QR code-based or scan-and-pay features
- Enables you to examine your transaction history; thus, you can handle your finances well.
- You’ll have a chance to generate a UPI PIN or a personalized QR code.
- From the perspective of security, the login period can expire after ninety seconds if any inactivity is detected. It’s done to mitigate the chances of fraudulent uses of the account.
- As long as your phone number remains unchanged, BHIM won’t get affected due to handset changes or even if your number is ported to a new operator.
- Allows a consumer to report complaints to a nearby bank
- You’ll find an easy-to-understand FAQ section to answer the queries related to the BHIM app.
- The app can support both English and Hindi languages for users’ convenience.
What are the advantages of the BHIM app?
- BHIM allows you to go cashless while allowing you to contribute towards the mission of “building a digital nation.”
- You can bring together your entire receivables and payments within a single app.
- It allows you to transfer and receive your money directly within your bank account in real-time.
- You can generate a VPA with the help of a name or mobile number. You’ll no longer have to share your bank account or any confidential details.
- The two-factor authentication feature ensures that transactions can be done through a secured mode.
- No more dependence on the working hours of the bank as you can get your transactions done 24×7.
You can easily get your SBPDCL electricity bill payment done through an online website, offline mode, or a reliable application. It can cut out the hassle of standing or waiting in long queues.
