India Business News, The Prime Minister of India Narendra Modi launched the Bharat Interface for Money (BHIM) application it is Aadhar based mobile payment for Android and iOS gadgets at the Digi Dhan Mela in New Delhi. At the point when Moneycontrol tried the application on an OnePlus Phone, after the Passcode was set, the interface did not push ahead. In any case it functioned admirably with a Mi4i gadget. The application is accepting blended audits on the Playstore. It is probably going to be changed in version 2.0. The Government financed application is probably going to go about as rivalry for Alibaba sponsored Paytm, ru-Net upheld Freecharge and Sequoia supported Mobikwik.
Here are the things to know about BHIM APP
About BHIM Bharat Interface for Money (BHIM) is an enterprise to enable cashless payments by your mobile phone. It is an ability of systems with other Unified Payment Interface (UPI) applications, and bank accounts. BHIM is elaborated by the National Payment Corporation of India (NPCI).
How it works Every One has to register a bank account with BHIM, and set a UPI PIN for the bank account. Your mobile number is your payment address (PA), and you can easily start transactions. If your mobile number is already registered with UPI, Its well and good to proceed.
How to convey & receive money We can send money or receive money from a registered mobile number or payment address and you may also send money to non UPI supported banks using IFSC and MMID. Collect your money by sending a request and reverse payments if required. We can check our ongoing bank balance and transactions details, We can create a custom payment address in extension to our phone number. We can able to scan a QR code for faster entry of payment addresses. Traders, Dealers, Merchants, Agents, Distributors can easily print their QR Code for display. BHIM will act as a counterpart towards Mobikwik and Paytm.
Transaction Limit BHIM receives a maximum of Rs 10,000 for every transaction and Rs 20,000 limit within 24 hours. It supports Hindi and English as of now.
Compatible OS BHIM App is right away on Android and iOS mobiles.
Necessity For BHIM We need a Smart phone, Internet Access, Indian Bank account supported with UPI Payments and a registered mobile number link to the bank account for using BHIM.
How to step-up BHIM PIN You can set the UPI-PIN by proceeding to Main-Menu – Bank Set UPI – PIN for your specified account.
Bank Support As of now, Bharat Interface for Money assist you connect of one bank as it were. At the moment of record set-up, one can connect a preferred bank account as the default account. If you need to connect another bank account, you can go to Main menu, pick Bank Accounts and select your default account. Any cash that is convey to your registered number or payment address will be credited into your default account.
Customers Reviews While few people have honored the user interface, few are grumbling of time taken to undertaking a command.
Rajan Malhotra said – “Errors – Unable to include bank the accounts. Sometimes it’s indicating convey declined message even before connecting the bank.”
Joseph Jayakaran said – The best #UPI application – straightforward and does one thing great – send and get cash. Extraordinary work!
Charges for BHIM There are no payment charges for Bharat Interface for money. How ever banks may require the nominal charges as UPI or IMPS exchange expense.