bharat interface for money

All that you wanted to know about the Bharat Interface for Money (BHIM) app

Cashless payment in India just got a boost by the Indian government promoted BHIM (Bharat Interface for Money) app. In a matter of few days this app topped the free apps chart on google playstore. Along with UPI, it will be part of the presentations during the Republic day parade. Here’s all you need to know about the BHIM app and how you can collect money using it.

What is BHIM after all?
The BHIM app comes from the National Payments Corporation of India (NPCI). The NPCI is the same entity UPI, USSD, RuPay, NACH & more. At the heart of it, the BHIM app gives the ability to Send, Request money via mobile number or Scan & Pay using unique QR code. Right now the app supports only English & Hindi languages but is expected to add more regional languages for greater adoption. You can download the BHIM app from the google play store.

What details are needed to transact via BHIM app?
Mobile number is the identifier in BHIM app. Transactions happen over the mobile number. Here, the Payment address is mobilenumber@upi i.e. 9800000001@upi.

How to register for BHIM app?
1. Verify mobile number.
2. Set 4-digit passcode. Passcode is the login code for the app.
3. Select preferred bank.
4. If account is UPI activated, it will reflect the relevant number. If UPI is not activated, enter six digits of debit card number, and the expiry date

How to transfer money using BHIM app?
1. To send money, type in the mobile number or VPA address (the one created for UPI).
2. Type in the amount, and click on Pay.
3. If the receiver is not registered on UPI, tap on the three dots above the send money option. The ACCOUNT + IFSC option will open up, where you can put in the details.
4. Transfer up to Rs 10,000 per transaction, and up to Rs 20,000 in any 24 hours.

Which banks support the BHIM app?
Allahabad Bank, Andhra Bank, Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank, Catholic Syrian Bank, Central Bank of India, DCB Bank, Dena Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, IDFC Bank, Indian Bank, Indian Overseas Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank, RBL Bank, South Indian Bank, Standard Chartered Bank, State Bank of India, Syndicate Bank, Union Bank of India, United Bank of India, and Vijaya Bank.

How does it work without internet?
One needs to dial *99# from any mobile phone and follow the instructions.

How does this affect merchants?
For merchants having UPI payments enabled with CitrusPay, customer can enter their VPA which is his Mobile number@UPI. He will get an in app notification on his BHIM app. He will just need to approve it, enter his UPI m-pin and Transaction is done! No need for OTP and other bank details. The BHIM app has already been downloaded by 5million+ users on the google play store. Thus you can now collect money from the millions of active users on UPI and BHIM!