BHIM Payment app India - Guide

BHIM (Bharat Interface for Money) app for cashless payments launched by Prime Minister Narendra Modi .PM Modi launched the Bhim app today for simpler payments without cashThrough the app, you can make payments using just a phone numberBHIM also supports USSD payments, which work even on basic phonesThe app allows you to easily transfer money or make a payment from your bank account using only your phone number. If the shopkeeper uses the BHIM app too, just open the app, choose “send money”, and type in the amount and the merchants phone number to make the payment. The money will be debited from your account, and credited to the merchants bank account which are linked by you and the vendor to the BHIM app.BHIM is now available as an Android version download now, and iOS is coming soon.The app also allows you to scan a QR code. The merchant can generate his QR code through the BHIM app. To pay him, youd need to tap the Scan and Pay button in the app, and then scan the QR code.Even without a smartphone, anyone can use BHIM to make payments.You need to dial *99# from any kind of mobile phone, and this will show a menu - by typing in different numbers you can choose to send money, check your balance, or see transaction history.To send money, for example, youd type 1 and hit send, then type 1 again to select mobile number. Next, youd type in the number and the amount, and then a PIN that can be generated using BHIM. This will work on any phone - even Rs. 1,000 feature phones - without an Internet connection.Shopkeepers can use the BHIM app and receive money from a smartphone, or if the customer has linked a bank account and her Aadhaar ID, then the merchant can use Aadhaar Pay, an app that was soft-launched days ago. For this, the merchant has to have a smartphone (even a basic Android phone will do) and a Rs. 2,000 fingerprint reader. This is currently being distributed free in Aadhaar Payments pilot projects around the country.On the shopkeepers phone, the customer types in her Aadhaar number and chooses her bank. Then, the shopkeeper uses the fingerprint reader for instant confirmation to complete the payment. The customer dont need to carry her Aadhar card, or use a phone, only the merchant needs these.With a mobile wallet app, you have to load money in the wallet before you can use it. With BHIM and all UPI (United Payments Interface) apps, you can directly connect your phone to your bank account - like a debit card. Payments are happening directly from and to bank accounts, so merchants dont have to worry about transferring wallet earnings to the bank either.There is a Rs. 10,000 per transaction limit, and Rs. 20,000 per day for BHIM.All UPI-connected banks accept BHIM - this includes all major Indian banks including SBI, ICICI, Axis, and HDFC. Even banks not connected to UPI can receive money through BHIM through IFSC, an 11-digit code assigned to every bank branch by the Reserve Bank of India.Alternately, you can also scan a QR code and pay via the ‘Scan & Pay’ option.The app offers a feature to check your account balance by heading over to “Bank Account” and selecting “Request Balance,The QR code will ease out the payment process as all one needs to do is simply point out their mobile camera at the code without the need to punch in the numbers. The merchants can simply download the QR codes and take a printout and display it at the payment counter. The app doesn’t levy charges for the transfer but however since it is based on UPI the nominal transfer charges will still be levied by the concerned BanksAs of now, the app doesn’t allow linking multiple accounts and in case you want to change your account, go to the Bank Accounts and unlink your current account and add a new one,From BHIM 1) Select Request Money2) Enter or select the receiver’s mobile number or Payment Address (you can select from your contact list or enter it) or Adhaar number3) Enter the amount you want to request4) Click Send