BHIM App - Frequently Asked Questions
What is BHIM ?
- BHIM stands for Bharat Interface for Money.
- It is the UPI based payment system that allows the real time transfer of fund just using a single identity like name or mobile number of the users.
- As a part of the Digital India initiative by the Government of India the new mobile payment application is launched.
- The Prime Minister of India Narendra Modi has launched BHIM on 30th December of 2016.
- The app is dedicated to Dr. B R Ambedkar.
- This mobile application would encourage the people to make payment digitally.
- It would meet the aim of the Government to introduce the cashless economy in India.
Features of BHIM:
- It is a mobile application for online payment purpose. By using it the users can pay money through the smart phones.
- It is based on the “Unified Payment Interface” (UPI) technology.
- This mobile app is developed by National Payment Corporation of India (NPCI) in a joint collaboration with JUSPAY.
- The users can download the mobile app from Play-Store which is available at the Android, iOS and Windows platform.
- It pay and collect money from bank to bank using the mobile number or Virtual Payment Address (VPA).
- It enables digital transactions across the multiple banks.
- It can directly link with the bank account of an individual.
- It uses the Immediate Payment Service (IMPS) technology for which the users have to pay a minimal charge for the transactions of Rs 1 Lakh or more than that.
What is UPI ?
- The UPI (Unified Payment Interface) which empowers more than one bank accounts into the single mobile app of any bank.
- It can merge multiple banking features, merchant payments and fund routing under one umbrella.
What is VPA ?
- The Virtual Payment Address (VPA) is the unique identifier that one can use to pay and receive money on the UPI.
- It can be an email address which is used to transfer money.
Way to Use BHIM :
- The users need to download the app and after that they must verify their mobile number which is linked with the bank accounts of them.
- On verification the app would show all bank accounts which are related to the number.
- The users must choose the bank from which they want to make the transaction and must enter the UPI pin for the payment confirmation.
- The mobile number is set as the payment address and one can change it later.
Advantages of BHIM :
- It is an open system, not a mobile wallet.
- Any kind of smart phone or any normal cheap phone can support the BHIM app.
- Internet connection is not essential to use the app.
- If the bank account is linked with Aadhar gateway, payments can be done by the thumb impression.
- The users can use the app for shopping by downloading the “Aadhar based” merchant app and bio-metric reader.
- There is no transaction charge.
- It also has the facility of “Spam report” to register the request of blocking the unknown person who request for money.
- It is available in 12 Indian languages.
Disadvantages of BHIM :
- The limit of total transaction is Rs. 20000 per day.
- The limit of every transaction is Rs. 10000 per day.
- It can be used only in India.
Which banks supports BHIM :
- The BHIM app is supported by many banks like SBI, Axis Bank, ICICI Bank etc.
- The app is downloaded by 18 million users till the end of March, 2017.