New Delhi, July 4: The usage of BHIM (Bharat Interface for Money) app has grown manifolds in the past few months as it allows cashless transactions without any hassle. The Bharat Interface for Money (BHIM) is an app that lets an individual make simple, easy and quick payment transactions using Unified Payments Interface (UPI).  With this app, a person can make instant bank-to-bank payments and Pay and collect money using just Mobile number or Virtual Payment Address (UPI ID).

A total of 92 Banks including the State Bank of India (SBI), Punjab National Bank (PNB), HDFC Bank are Live on BHIM. According to a National Payments Corporation of India (NPCI) data, Bhim app’s volume of usage was 87.9 million during 2017-18, the volume of other UPI based apps’ volume was a humongous 825.12 million during the same period. In the same way, in April 2018 itself, while Bhim’s payment volume was 12.6 million, the volume of other apps was 177.3 million.

Take a look at the features of the BHIM App:

Send Money

The BHIM App lets you choose your preferred bank after it has verified your mobile number. A user can send instant money to anyone using Virtual Payment Address (VPA) or combination of Account Number and IFSC or even by scanning QR code

Request Money

A user can request money by initiating a collect request by entering Virtual Payment Address (VPA).  Also, it is mandatory that the customers mobile number is linked with the bank account. Additionally, through BHIM App, one can also transfer money using Mobile if it is registered with BHIM or *99#.

Scan & Pay

The BHIM App customers can pay by scanning the QR code through 'Scan & Pay' and generate QR codes in the app for making payments.

Transactions

The transaction option on the BHIM app option allows a user to check transaction history. The option also highlights pending UPI collect requests (if any) so that a user can approve or reject the payment requests. There is a report issue tab if a customer is willing to raise any complaint pertaining to transactions.

Bank Account

A user can check the bank account which is linked with the BHIM App along with PIN status. The best part is that customer can set/change the UPI PIN, bank account linked with BHIM App by clicking 'Change Account' tab provided in the menu. This feature also helps a user to check their account balance.

Here’ how you can use the BHIM App:

  1. For a user to user the BHIM app, one needs to download and Install the app from Google Play store or Apple App store. BHIM APP is available in play store (android version 4.2.2 & above) and App Store (iOS 8.1 and above).

  2. The user should then select his/her preferred language to proceed further

  3. The user will have to select SIM which has mobile number that is registered with your bank.

  4. Once the sim is selected, login by setting a 4-digit application password and then select and link your desired bank account

  5. The user now needs to set the UPI PIN by providing last 6 digits and expiry date of debit card

  6. Your account is now registered and ready to use. Send or request money and go cashless.

The BHIM app has now become a unique payment solution which can be used without internet. Users can dial *99# from any phone and avail the same features of BHIM on your mobile screen. They can also register for BHIM using *99# .

In January 2017, Prime Minister Narendra Modi launched the mobile payment app BHIM (Bharat Interface for Money). The BHIM app is developed by the National Payments Corporation of India (NPCI) and is an aggregator for all UPI-based services offered by banks.

(The above story first appeared on LatestLY on Jul 04, 2018 07:29 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).