Actually BHIM is an acronym used for Bharat Interface for money. Bharat Interface for money is nothing but a mobile app. It was National Payments Corporations of India who actually developed this very app. This was based on the UPI. UPI actually stands for the United Payment Interface. This was launched by the Prime Minister of India Narendra Modi at a Digi Dhan mela at Talkatora stadium in New Delhi. This was done on 30 December in the year 2016.

About BHIM

Well dear here I will share some of the important things regarding the today’s topic BHIM. Actually what is a BHIM? As I have mentioned in the earlier part that it is just a app developed by NPCI, the main thing is here is that it has been named after the great Indian personality Bhim Rao Ambedkar. Also it is intended to facilitate e-payments directly through banks and as part of the 2016 Indian banknote demonetization and drive towards cashless transactions. Here I am going to tell you some of the points with the help of the following listed bulleted points. So dear readers just go through it.

• United Payment Interface app in fact supports and assists each and every Indian banks.
• This use the platform which is built over the IPS(Immediate Payment Service) infrastructure and thus dear allows the user to transfer money instantly. And the amazing thing is that the very transfer can be between the bank account of any two parties.
• It can be based on all mobile devices.

Thus guys there are a lot of things here about this very thing i.e Bharat Interface for Money.

Advantages of BHIM

Here I am going to tell you about the benefits of BHIM. Actually there are quite a few advantageous points about the very app Bharat Interface fro Money. Well let me here provide you some of the beneficial things about BHIM which is one of the very outstanding app if it concerned in the field of e-payment. So dear guys and girls just go through thee following mentioned points.

• Actually Bharat Interface for Money permit all users facilities like that of send or receive money to other UPI payment addresses or scanning QR code or account number with IFSC code or MMID code to users who do not have a UPI based bank account. (MMID is an acronym used for Mobile Money Identifier)
• Apart from the above valuable benefit, there are also many benefits as well. Well let me come on the point directly. The thing is that BHIM allows users to check current balance in their bank accounts and also to choose which account to use for conducting transactions, although only one can be active at any time.
• Also any user can create their own QR code for a fixed amount of money. This is really beneficial in the transactions of merchant, seller and buyer.
• Users can also have multiple of payment address.

Some More About BHIM

Well dear there are a lot of things regarding Bharat Interface for Money. Here I ma sharing with you the important things about it. So just go through them. Here let me mention firstly more important thing about BHIM. Some more benefits are listed below-

• If there is a Aadhaar card and the 12 digit Aadhaar is listed as a payment ID on the BHIM app will not require any biometric authentication or prior registration with the bank or Unified Payment Interface.
• Well there is another thing about Bharat Interface for Money. During the Union Budget of 2017, Arun Jaitley the current Union Finance Minster said that Government will launch two new schemes.
• And that scheme will be launched in order to promote the use of the BHIM app that is Bharat Interface for Money app.
• One will be actually referral payments for individual. While another one will be cashback for merchants who accepts payments from BHIM.
• During the Union Budget of 2017, Arun Jaitley, Union Minister of India said that BHM is currently being used by over 125 lakh people living in India. This is really a matter of surprise as well as excitement regarding the very app Bharat Inteface for Money.

Thus these are some of the beneficial things about the very topic Bharat Interface for Money. Let me come on the another topic.

How to use BHIM App

Well guys in the previous section I have shared a lot of things about BHIM. Now you certainly come to know to some extent about this app. Well let me here mention about the way of application of this very app i.e BHIM app.

Thus dear it is matter of fact that at a program in New Delhi, Narendra Modi the Prime Minister of India launched the mobile payment app BHIM which stands for Bharat Interface for Money. Actually BHIm is an aggregator for all UPI based services offered by banks. Well dear in this section I am going to discuss with you about the way of using this app. I am providing you here some of the steps so that you will know how to use Bharat Interface for Money app. So dear go through the following points if you want to know how to use BHIM app.

Some Points Regarding How to Use BHIM

• The first thing is that android user can download the application from Play store. There you have to search the app and then go for the download. This app is not available for IOS users yet.
• After downloading, install the app and choose your language.
• The app will prompt you to verify your contact using a SMS. So click the next and wait for the verification process to be completed.
• After the verification is complete, input a four digit passcode.
• Then you have to select your bank. App will automatically pick up all details just doing this, using phone number.
• Select the primary bank account that will be used for all your transactions.
• Transaction are possible only between verified phone numbers.
• To send money to someone type in their phone number and the amount that is to transferred.
• The app will prompt you to input your MPIN usually a 4 or 6 code that in fact authenticates a mobile transactions.
• Similarly you can request money also but using their phone number.
• The last thing is scan and pay. This allows users to transfer money using a Qr code, a 2D black and white barcode which can be decoded by a smartphone or a tablet.
• Each phone number is assigned a QR code which can be accessed under profile on the Home screen.