What's New?

SPEEDY Railway Book (English)

BHIM App - Frequently Asked Questions

BHIM App - Frequently Asked Questions
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.
Remarks :
  • The app is downloaded by 18 million users till the end of March, 2017.
Join Your Competitor in FB Groups
Join Your Competitor in Telegram Groups
Study Materials and Important Notifications
Latest Govt. Schemes Monthly PDF Download
Newsletters Form

  • Comments
  • Google+
  • Disqus