Prime Minister Narendra Modi has launched a rebranded version of UPI (Unified Payment Interface) app, called BHIM (Bharat Interface for Money) on Friday (30th December, 2016) in a Digi Dhan Mela held at Talkatora Indoor Stadium in New Delhi, India. The app is named for Dr. BR Ambedkar – father of Indian Constitution, said the PM, and is developed by National Payments Corporation of India (NPCI). It allows users to transfer money or make payments electronically without having to use a Credit or Debit card, or by creating and storing a mobile wallet.

“Be it a smartphone or a feature phone of Rs 1000-1200, BHIM app can be used. There is no need to have Internet connectivity,” says PM Modi. “One only needs a thumb. There was a time when an illiterate was called ‘angutha chhaap’. That has changed. Your thumb is your bank now.”

"BHIM App for Android"

How to use BHIM App?

The BHIM app is currently available for Android smartphones (Version 4.1.1 and above) on the Google Play Store and it comes with a simple interface. On starting the app, you will be asked for select preferred language (English or Hindi) and to give permission to send an SMS and register your phone number. Once registered, you will be asked to set a 4-digit pass-code and then choose your bank. That’s it.

In the main menu, you get three options for money transfers – Send, Receive and Scan & Pay using QR Code. By default, your registered mobile number is your payment address (PA). You also get an option to create your customized UPI address, which could be your nick name or full name.

If you have an account in two or three different banks, you can easily switch between banks in just a few clicks. On the homescreen, you have ‘my information’ section, where you need to choose your Bank Account. It will open a new screen giving you details about your existing bank account, option to change or reset PIN and request for account balance. On the top right corner, you have three dots to switch to a different bank account.

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Supported Banks:
– Allahabad Bank
– Andhra Bank
– Axis Bank
– Bank of Baroda
– Bank of Maharashtra
– Canara Bank
– Catholic Syrian Bank
– Central Bank of India
– DCB Bank
– Dena Bank
– Federal Bank
– HDFC Bank
– ICICI Bank
– IDBI Bank
– IDFC Bank
– Indian Bank
– Indian Overseas Bank
– IndusInd Bank
– Karnataka Bank
– Karur Vysya Bank
– Kotak Mahindra Bank
– Oriental Bank of Commerce
– Punjab National Bank
– RBL Bank
– South Indian Bank
– Standard Chartered Bank
– State Bank of India
– Syndicate Bank
– Union Bank of India
– United Bank of India
– Vijaya Bank

As UPI is built on top of Immediate Payment Service (IMPS), the transaction takes place in seconds. The best part is – the payment system works 24×7 and 365 days. Talking about limits, you can transfer as low as Rs. 1 and maximum of Rs. 20,000 per day. However, in a single transaction you can transfer maximum of Rs 10,000. Money can also be sent to non UPI supported banks using IFSC and MMID.