Launched by the National Payments Corporation of India (NPCI), BHIM (Bharat Interface for Money) is a mobile payment developed on the basis of Unified Payments Interface (UPI).
The App named after B. R. Ambedkar and is intended to facilitate e-payments directly through banks as part of the 2016 Indian banknote demonetization. It drive towards cashless transactions.
BHIM supports all Indian banks which use UPI, and it allowing users to transfer funds between bank accounts of any two parties quickly. If you have multiple apps for making payments, you can easily manage all of them with the all-new BHIM App.
How to start an account on BHIM App?
To get started with Bharat Interface for Money, register your bank account with the App, and specify a UPI PIN for the bank account. Your mobile number is your payment method, and you can start transacting as quickly as you want.
What is the procedure to transfer money via BHIM App?
Make Cashless Payments or receive money from family, friends, and customers by means of a mobile number or pay address. Instant Money Transfer can also be arranged on an unregistered user using a Mobile number or Account number+IFSC, and UPI ID.
If required you can collect money by sending a request to receive payments instantly.
What to ensure before registering on BHIM App?
Before you register on the app, please assure the following:
– You have valid Debit Card
– You have configured your Mobile Number with your account
– Your registered number is showing in the same device as the Bharat Interface for Money
– You have registered your account for Mobile/Internet banking
What’s the advantage of transferring payments through BHIM App?
Some of the key advantage of banking via this App includes the following:
– it allows to send or receive money to or from UPI payment addresses, or to non-UPI accounts
– It is the single App which transfers money between different bank accounts.
– It facilitates transactions as instantaneous which can be done 24/7 including weekends and bank holidays
– It makes users check the current balance in their accounts in more than one bank
– It helps to choose the account to use for conducting transactions, although only one can be active at any given time
– Company’s option to create a QR code for a fixed amount of fund is helpful in merchant-seller-buyer transactions
– it lets you have more than one payment address.
To put it in a nutshell, BHIM App is your all-in-one catalog for all your banks’ accounts.
To know more about Bharat Interface for Money, visit https://www.bhimupi. Org.in/
BHIM App 1.6.3 Update
National Payments Corporation of India (NPCI)