Significance of BHIM

BHIM means Bharat Interface for Money

Digital Payment mobile Application

Named after Babasaheb Dr Bhimrao Ambedkar

Supports Aadhaar-based payments

Based on the Unified Payments Interface (UPI)

Transfers money digitally without going to Bank

Developed by the National Payment Corporation of India (NPCI)

Guide to use BHIM App

Check Balance detail at anytime on the fingertips

Create Custom Payment Address on the base of the mobile number

QR code feature

Transaction Limits: Maximum of Rs. 10,000 per transaction & Rs. 20,000

within 24 hours.

Language supported: Hindi and English

Way of sending the Money via BHIM app

Payment on the basis of UPI

Mobile Number Virtual payment

address

1

Way of sending the Money via BHIM app

Payment without the basis of UPI

IFSC

MMID

Account transfer

2

How BHIM app works

Select the preferred Bank 4-digit passcode required Option available of sending and receiving money

Need to address these issues

Low connectivity of the internet in the country like India

Not everyone have the accessibility of Smartphone

This app is available only on Android platform

Aadhaar payment feature has not been implemented

Need good infrastructure for this application

Not every bank is connected to UPI