BHIM Digital App – A Boon for Inter-Bank Transfers

The BHIM app was conceptualised and launched by the Hon’ble PM, Narendra Modi on 30th December 2016 to bring in financial inclusion for all Indians through a common digital route for the development and empowerment of the society. Here’s a look at its major features…

Words by: Aabha Tiwari

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The Bharat Interface for Money (BHIM) is a digital application developed by the National Payments Corporation of India (NPCI), based on Unified Payment Interface (UPI) platform. Launched by our Hon’ble Prime Minister, Shri. Narendra Modi in New Delhi in 2016, the main objective of the app was to facilitate the digital mode of payment through banks as part of the 2016-post demonetisation part solution and to create awareness, post digital India movement.

This BHIM application supports all Indian banks, built over the immediate payment service infrastructure and allows the user to transfer the money instantly between bank accounts of any two parties. It supports the functionality of receiving and sending the payment through mobile or to a non- UPI based accounts, which also includes scanning a QR code with account number and IFSC code. Unlike other mobile wallets, BHIM app does not hold in money, but transfers the required amount between bank accounts. Transactions are done instantaneous, 24/7 including weekends and bank holidays. It is available in 22 languages in order to ensure maximum inclusion.

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This BHIM application supports all Indian banks, built over the immediate payment service infrastructure and allows the user to transfer the money instantly between bank accounts of any two parties. It supports the functionality of receiving and sending the payment through mobile or to a non- UPI based accounts, which also includes scanning a QR code with account number and IFSC code.

SERVICES OFFERED
Through the BHIM app, one can make following types of transaction:
INTER-BANK TRANSFERS
Payment Address
To Aadhaar number
To mobile number
Through IFSC code, account number
Scan and pay for merchant payments
HOW TO USE THE BHIM APP?
Android users can download the application from the Play Store by searching for ‘BHIM’. The app is not available for iOS users yet.
Install the application and choose your preferred language. The app will prompt you to verify your phone number using an SMS. Click on Next and wait for the verification process to be completed.
Once the verification is complete, input a four-digit passcode.
After a passcode is set, the app will ask you to select your bank. Once the bank is selected, the app automatically picks up your details using your phone number. Select the primary bank account that will be used for all your transactions.
The app displays three options — send, request and scan/pay. Transactions are possible only between verified phone numbers.
To send money to someone, type in their phone number and the amount to be transferred. The app will prompt you to input your MPIN, usually a four or a six-digit code that authenticates a mobile transaction.
The third option of Scan & Pay allows users to transfer money using a QR code, a two dimensional black and white barcode which can be decoded by a smartphone or a tablet. Each phone number is assigned a unique QR code which can be accessed under profile on the home screen.
The app has a very simple interface and is easy to use, government is working on making it more secure payment wise.