Demonetization is undoubtedly one of the biggest crackdown on black money in India and a revolutionary step by the government. However, aiming for a cashless economy is a daunting task because to replace it government needs to provide a solid, easy to use and secure platform to make digital payments. In that endeavour government launched the Bhim App which is a re-developed or re-branded version of Unified Payments Interface app. It is a short form of Bharat Interface for Money and the name is dedicated to and inspired by Dr. Bhim Rao Ambedkar.
The application is fully developed by the NPCI National Payments Corporation of India in collaboration with JusPay. The application can be downloaded at Google Play Store for any android powered smartphone. App’s iOS version for iPhone and Windows Phone version will be launched in coming few weeks. The app can also work without internet on a feature phone, which is a great option specially to enable rural India where internet connectivity is still a feasibility issue.
For those who wants to send money with bhim app to bank accounts that are non-UPI supported can use IFSC Code, Bank account or MMID to send money with the app which is a good feature as well. This app has completely revolutionized the way we used to pay for services, products or to send money to our friends or family members. It is a great way to go cashless and make payments fast, securely and conveniently.
Sending money using bhim app steps:
People who are new to using bhim app might be wondering how to use bhim app to send money through mobile phone. It is very and even your 80 years old grand mother can do it by learning and practicing few times. Steps below explain sending money procedure with the app:
- Go to BHIM App in your mobile phone. At home screen, tap on ‘Send Money’ option.
- Now, you have to enter receiver’s (person whom you want to send money) mobile number or permanent payment address or Aadhaar card number.
- Once mobile number is entered, next step would be to enter the amount you want to send.
- In the next step your set default bank account will be selected to send money from.
- Once bank account is selected, app will prompt you to enter your UPI PIN and tap on ‘Send’ button. That’s it, you will be shown a success status if the transaction is successfully completed.
- Users can also use QR code scanning option to pay money by going to ‘Scan & Pay’ section in the app. This is faster and more convenient option which is generally used by merchants to accept payments.
The best thing about the BHIM App is that it is developed on UPI framework which is based on Immediate Payment Service (IMPS) and that’s what allows transactions to complete instantly. It hardly take few seconds to send and receive payments. The other good reason to use bhim app is the fact that this payment system operates 24 hours a day throughout the year. There is no working hours limit whatsoever, that means you can send and receive payments anytime.
In terms of sending and receiving money limits, the bhim app allows you to send maximum of INR 20,000 a day and per transaction cannot exceed the INR 10,000 limit. So, basically you can transact 20,000 every day with it at the moment, but the limit is going to increase in future.
The thing that goes for bhim app is that it is a much more robust and simplified interface for UPI payments. There are banks also that have their own UPI system based apps, but it is your choice to either use them or use bhim for transactions.
Although we have UPI system, but USSD is also there that stands for Unstructured Supplementary Service Data. It works without internet and makes it possible for even features phones to make digital payments with ease. NPCI will also launch aadhaar based payment app for merchants and small shop owners to accept payments with aadhaar number and thumb impression of their customers.