Simple, secure UPI for India
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BHIM is a unified payment interface (UPI) developed specifically for use in India. The main goal of this finance app is to provide a safe and secure platform for instant digital payments on your mobile phone in much the same way that Google Pay functions. Just as with any other banking service, is it essential to take all the required safety precautions before proceeding with using it.
BHIM app requirements
First, you should download and install BHIM before proceeding. Do take note that you must have a phone running at least Android 5.0. You must use an active SIM and mobile number linked to your bank account. You will also need to have a valid debit card for the selected bank account to generate the UPI pin. You can visit their website to find all their banking partners.
Features and Benefits
The BHIM app is available in 13 languages, including English and Hindi. The app gives you simple ways to transact using UPI. You can make payments to or request money from anyone by using their UPI ID or scanning a QR code with the BHIM app. It also has scan and payment options for more secure shopping.
You can also check your balance, switch between accounts, and change your pin, all from within the app. You can even use your UPI ID to pay when completing the IPO application for stock trading on the NSE or BSE.
Here is a proper look at its features:
- Available in Many Languages: You can use BHIM in 13 different languages, including English and Hindi.
- Different Ways to Pay: You can send money or ask for money from others by using a UPI ID or scanning a QR code.
- Secure Payments: BHIM provides extra security features to keep your transactions safe.
- Manage Your Account Easily: Within the app, you can check your bank balance, switch between different bank accounts, and change your PIN.
- Useful for Stock Trading: You can use your UPI ID to quickly make payments when buying or selling stocks on platforms like the NSE or BSE.
Is BHIM available only in India?
Although BHIM is primarily designed for users in India, you can also use it abroad. It allows you to send and receive money to and from Indian accounts while you are outside India. This feature makes it convenient for Indian residents traveling or living overseas to manage their finances.
Who founded BHIM?
The Prime Minister of India, Narendra Modi, introduced BHIM on December 30, 2016. He aimed to help the country become more financially inclusive and digitally empowered. The National Payments Corporation of India, an important organization in India’s banking sector, created the app. They manage the systems that handle everyday payment services in India.
Which is better, UPI or BHIM?
Whether BHIM or UPI is better depends on what you need from a payment system. BHIM is an app that uses UPI to operate. It focuses on being easy to use, making it a good option for people who want a straightforward way to manage digital payments. UPI, on the other hand, is the system that allows many apps like BHIM to work. It’s used for transferring money safely and instantly.
- BHIM: Best for those who want a simple app for everyday money transactions.
- UPI: Great if you want to use different apps and need a reliable system for fast payments.
BHIM vs PhonePhe
Which app you choose will depend on the features you need. Both apps are UPI-based, but if you only need a simple UI with basic transactional features, BHIM is the one to use. PhonePe will offer you different features like an eWallet, recharge, and the ability to pay bills. It also has various cashback offers, discounts on products, and a refer and earn promotion. However, BHIM has a significant advantage with the security feature enabling you to use an access lock.
Instant digital payments
Mobile banking is becoming more and more popular in India every day, with its adoption rate steadily rising. The BHIM app offers a secure and straightforward interface for basic transactions. It is easy to set up, track your finances, and you can raise disputes, all from the app itself. The access lock feature gives you additional peace of mind.
