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![•Benefits
• BHIM allow users to send or receive money to or from UPI payment
addresses, or to non-UPI based accounts (by scanning a QR code with
account number and IFSC code or MMID (Mobile Money Identifier) Code).
• Unlike mobile wallets (PayTM, MobiKwik, mPesa, Airtel Money etc) which
hold money[6], the BHIM app is only a transfer mechanism, which transfers
money between different bank accounts. Transactions on BHIM are nearly
instantaneous and can be done 24/7 including weekends and bank holidays.
• BHIM also allows users to check the current balance in their bank accounts
and to choose which account to use for conducting transactions, although
only one can be active at any time.](https://image.slidesharecdn.com/bhim-191210180444/75/Bhim-Bharat-Interface-for-Money-20-2048.jpg)
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Bhim(Bharat Interface for Money)
- 1. • TECHNICAL INNOVATION SMARTINTERFACE FOR MONEY • BHIM APPLICATION Prepared BY -Raj Parmar
- 2. • Contents • History •Details • Developer • Features of the Bhim application • HowTo Use BHIM APPLICATION • Add Bank Account • Send Money • Collect Money • Benefits • Transaction Fees and Limits
- 3. • Bharat Interfacefor Money History • To remedy the cash crunch caused by demonetisation, Modi came up with the concept of going digital and using Unstructured Supplementary Service Data (USSD) and UPI. • However, Modi also realised that terminologies like UPI and USSD were creating confusion in the minds of people. • It was in the last week of November that the government felt the need for a payment mechanism with a simple interface which could be used by all, leading to the birth of the BHIM app. • The first week was spent on conceptualising, designing, and prototyping of the app while its development took the remaining two weeks. • By December 25 the team had the app ready, and Nikhil and his team then went to Delhi to demonstrate the app to government departments like the NITI Aayog and the PMO.
- 4. • BHIM(Bharat Interfacefor Money) a Mobile App developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI). • It was launched by Narendra Modi, the Prime Minister of India, at a Digi Dhan mela at Talkatora Stadium in New Delhi on 30 December 2016. • It has been named after Dr. Bhimrao R. Ambedkar and is intended to facilitate e-payments directly through banks and as part of the 2016 Indian banknote demonetisation and drive towards cashless transactions. • The app supports all Indian banks which use that platform, which is built over the Immediate Payment Service infrastructure and allows the user to instantly transfer money between the bank accounts of any two parties. It can be used on all mobile devices.
- 5. • DETAIL OFBHIM APP Developer National Payments Corporation of India Initial release 30 December 2016 Platform Google Play, App Store Available in English, Hindi, Bengali,Tamil,Telugu, Kannada, Malayalam,Odia, Gujarati. Type Payment Website NPCI Portal Total size 1.24 MB
- 6. • Developer • SinceNovember 8, when PM Narendra Modi announced the demonetisation of Rs 500 and Rs 1,000 notes, digital payment has been a hot topic of discussion. • The government came up with a number of strategies to help people cope with the cash crunch and move towards the Digital India ideal. • One such step was the launch of the Bharat Interface for Money (BHIM) app on December 30, 2016, which has witnessed 15 million downloads since. • “BHIM is built on a technology called the Unified Payment Interface (UPI) • It is allows any bank to acquire any bank’s customers and allows to send money from any app. IMPS or Immediate Payment Service allows instant interbank transfer of funds over mobile phone.
- 7. • Nikhil saidhe and his team would go to banks and startups like FreeCharge and Flipkart to promote UPI, which was launched in February 2016. • UPI allows customers to make payments through a single identifier like the Aadhaar number or virtual address. Nikhil Kumar, Head of Developer Ecosystem, India Stack Nikhil Kumar at UPI launch with Nandan Nilekani,Chairman, UIDAI
- 8. • Features ofthe Bhim application
- 9. 1. If youhave the mobile number of the person to whom the amount is to be transferred, then through the use of BHIM app, you may transfer any amount very easily without any hassle. 2. Funds can be transferred to the bank account or the virtual payment address as well. 3. While shopping, there is a special facility of ‘Scan and Pay’ where the transfer of amount is made within a minute 4. Even if you don’t have internet activated in your mobile, you can still transfer funds using this app. 5. Additional feature of using fingerprints besides using UPI PIN, you can authenticate the transfer of funds without the fear of any misuse.
- 10. 6. It hasthe customer care number of almost every bank, and by using its link, you may directly call the concerned bank in case you face any trouble or issue. 7. It’s extensive FAQ makes it convenient for the novice users to use this app without any guidance and if you share and download your QR code with the second party, then you may also receive the payment easily. 8. You are free to choose your language preference from the 9 language options available. 9. Link the Aadhaar Card Number of the beneficiary to the account and transfer any amount very easily and quickly. 10. Check bank balance, block an unknown person or any such related issues can be reported through this app.
- 11. • HowTo UseBHIM APPLICATION
- 12. 1. Install andSet Passcode. 2. To use the BHIM App, you have to download and install it. 3. When you open this app first time, it would ask you to choose the language. Currently you have the option of English and Hindi. 4. It would also tell you some basic features of this app. 5. In the next step, the App would ask your permission to send and view SMS from your Phone. It is necessary to verify your phone number.
- 13. 6. It mayalso ask to choose the SIM if you have two SIM in your phone. You should choose the number which is linked to the desired bank account. 7. 8.
- 14. 8. Now youwould reach to the dashboard of the BHIM. 7. Now You have to set the Passcode/PIN to open this app. It would be a 4 digit PIN. Without entering this PIN, you would not be able to open this app in future. confirm the PIN again by entering it. • Add Bank Account 1. Your first step in the BHIM dashboard should be the bank account linking. You need to link bank account to transfer fund from that account or get money to the account. 2. Note, You can link only one account at a time in the BHIM app. Other UPI apps give you the facility to link multiple bank account.
- 15. 3. To linkbank account, you have to the choose the bank name from the given list. 4. You would see your bank account/s of that bank. Select the account. It links the bank account to the BHIM app. 5. Anytime, you can change your bank account by going through the same procedure. • Set UPI PIN • UPI PIN is required for the final authentication, when you pay money to any bank account. The UPI PIN is the same PIN which is called as MPIN in other UPI apps. • To set the UPI PIN, click on the Bank account.
- 16. • You wouldsee the linked bank account. Below the bank account, you would also see about the status of your UPI PIN in green fonts. • If you have previously set the UPI PIN, there would be a message about this. • There would be links to RESET UPI PIN and Change UPI PIN. If you choose the RESET UPI PIN, you need debit card details to authenticate. You would also get an OTP SMS for authentication. • Changing UPI PIN is relatively easy. You have to only enter the existing PIN and new PIN twice.That’s it.
- 17. • Send Money •Now you can send and receive money through the BHIM app. • To send money, you have to click on the send money link. • In the next step you have to enter the mobile number of payee. You can also enter the virtual payment address of the payee. You would not get any other option to pay. Other apps such as Baroda MPay give the liberty to pay money to bank account or Adhaar number as well. • Enter the amount and remarks to send money. • Finally, enter the UPI PIN. It is the same PIN which is used as MPIN with other apps. Once, you enter the UPI PIN, the money gets transferred to the bank account of the payee. You would instantly get notification about that.
- 18. • Collect Money •To collect money Click on ‘Request’ on dashboard. • Again you have to enter the mobile number or VPA of the person from whom you want the money. Enter the amount and remarks and submit. As you submit the request, the payer would get a notification in his smartphone. By following the notification, the person can accept or reject the payment. • You can also generate the QR code to request payment. To generate QR code you have to only enter amount and remarks. The payer would scan this QR code and accept the payment.
- 19. • Transaction Feesand Limits 1. At present, there is no charge for transaction from 1 to 1 Lakh. 2. If a debit card with a daily transaction limit is linked to the BHIM app (usually 10,000 or 20,000 for many no-frills accounts), transfers through the BHIM app are also subject to the same limit. Debit card limits can be changed by the issuing bank. The BHIM app has some issues - for instance it does not yet work with the IRCTC app. 3. Indian banks have proposed transaction charges on UPI transactions but there is no information on whether transactions through BHIM will also be charged.
- 20. •Benefits • BHIM allowusers to send or receive money to or from UPI payment addresses, or to non-UPI based accounts (by scanning a QR code with account number and IFSC code or MMID (Mobile Money Identifier) Code). • Unlike mobile wallets (PayTM, MobiKwik, mPesa, Airtel Money etc) which hold money[6], the BHIM app is only a transfer mechanism, which transfers money between different bank accounts. Transactions on BHIM are nearly instantaneous and can be done 24/7 including weekends and bank holidays. • BHIM also allows users to check the current balance in their bank accounts and to choose which account to use for conducting transactions, although only one can be active at any time.
- 21. • Users cancreate their own QR code for a fixed amount of money, which is helpful in merchant — seller — buyer transactions. Users can also have more than one payment address. • If the 12-digit Aadhaar number is listed as a payment ID, the BHIM app will not require any biometric authentication or prior registration with the bank or Unified Payment Interface (UPI). • Version 1.3 allows users to use mobile numbers from their contact book to send money and also save payment addresses for future use without needing to type the address again. User can also check the Transaction History, which only shows transaction through BHIM.