To promote the cashless transactions and move towards the digital economy, the government of India has introduced Bharat Interface for Money(BHIM), a mobile app based on Unified Payment Interface(UPI). It was developed by the National Payment Corporation of India(NPCI) as a part of the Digital India program. It allows customers to send or receive money from one bank account to another for UPI and non-UPI accounts. For non-UPI accounts, users can send or receive money by scanning the QR Code or by entering the account number and IFSC Code if the user is in other cities.
QR code can be generated by users for their own transactions for a fixed amount of money. Transactions on BHIM are very fast and can be made on a 24/7 basis even on bank holidays.
To make the transactions via BHIM, if 12-digit Aadhar number is listed as a payment ID, then the app does not require any biometric authentication or registration with the bank or Unified Payment Interface. BHIM app is very helpful for various transactions like payment of electricity and other bills, online mobile recharge, and checking balance in bank accounts. AS it is the app developed by the government it is comparatively easy and safe for online transactions for the users. It is built with a high level of security to make a transaction.
Unlike PayTM, PhonePay, MobiKwik, Google Tez, and Amazon Pay, the BHIM app will not ask you for any transaction fees, also it never stores money and it is the mechanism only to transfer money from one bank account to other. If you are new to this BHIM app here are the simple steps on how to send and receive money via the BHIM app. Follow these simple steps to make successful transactions.
1. Download and install BHIM app
To download BHIM app android users should go to the Android Play Store and Apple users can download it from iOS App Store. Currently, it is available on only these two platforms, other platforms may get it in the future.
2. Register your mobile number
After installation opens the app on your device and selects your preferred language. It is available in major Indian languages so choose your language. After that register with your mobile number to get access to the app. Don’t forget to link that number which is linked to your bank account, because to get a verification code and to receive OTP you must need a registered number.
3. Verify your mobile number
After that app will send you an automatic message to verify your mobile number to check if it is linked with your bank account.
4. Set UPI PIN
In the next step, you have to set a PIN to log in to the app and to make transactions. The first pin is used for login and the second one is used for transaction purposes.
5. Add your bank account with the app
After the successful completion of the mobile number, you have to give your bank account details. You must feel up all the information that is required by BHIM. Be careful while filling up your bank account details and other personal information.
Now you are ready to make transactions on the app but before it chose your bank and opens it. Now click on the Send button to send money to your family, friends, or any other business contact. Here fill up accurate bank account information & IFSC code of the receiver and enter the exact amount. Now BHIM app will ask you for your transaction password, enter it, and your transaction will be successful.
You can also send or request money by scanning QR code or with UPI ID which you already have generated. If you have any difficulties regarding the above steps don’t hesitate to let us know in the comment box below. Share this information with your friends so they can know about the BHIM app.