BHIM app for easy cash transactions

BHIM app for easy cash transactions

Posted by P. Charitha on January 6th 2017

Prime Minister Narendra Modi recently launched the mobile payment app BHIM (Bharat Interface for Money), which is developed by the National Payments Corporation of India (NPCI). BHIM is an aggregator for all UPI-based services offered by banks. The best part about the BHIM app is it’s easy to use interface which makes cashless transactions very easy. There is no need to recharge your e-wallet and all you need to do  in the  BHIM app as it directly connects to your bank account — an account that you can specify — and then you can use it to make payments, receive money and make transfers.
UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords using a Smartphone.
 
How to use it
Follow the step-by-step guide on how to use the app after downloading it. Once the verification is complete, 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. Likewise, you can request money from someone, using their phone number. The third option, 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. 
 
There have been issues with this app where certain bugs were detected and also where a user of the app tweeted that he was receiving spam payment requests and no option to block unknown users sending the requests.Despite that it has already attracted 5 million users and enabled close to 7,00,000 transactions, according to CEO of Niti Aayog, Amitabh Kant.
Currently, there is a limit of Rs10, 000 per transaction and Rs25, 000 in a day for transfers through the bank account. 

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