BHIM Full Form in Computer

What is BHIM?

Bharat Interface for Money (BHIM) is a mobile payment app created by the National Payment Corporation of India (NPCI). Based on Unified Payments Interface (UPI), BHIM helps users to complete fast, safe, and easy payment transactions. We can transfer money from one bank account to another using a Virtual Payment Address (VPA). Transfer can also be done using the receiver's UPI or scanning QR with the BHIM app. BHIM was launched in 2016 to promote digital payments and encourage people to make India a digital country.

BHIM is a payment method that can be operated without an internet connection. By dialing *99# from any phone, we can access BHIM, which we are using on the smartphone's screen. The registration process for BHIM can also be done by dialing *99#.

The Ministry of Electronics and Information Technology, BHIM 2.0, has also introduced a new and improvised version of BHIM. The current limit of Rs. 20,000 is now increased to Rs. 1,000,000 from trusted merchants under BHIM 2.0.

Unlike other e-wallets, BHIM can replace any other mobile wallet and is a more reliable transfer choice. By using BHIM, there is no need to top-up the balance as the transfer is completed directly from the bank account. There are no fees or other charges for using the software. We can make a transaction of Rs. 10,000 at a time and do transactions up to Rs. 20,000 in 24 hours.

Characteristics of BHIM

• Sending and requesting money: We can send or request money using a Virtual Payment Address (VPA), an account number and IFSC code, an Aadhar Number, or scanning a QR code. We can request money using a Virtual Payment Address (VPA).
• Scan and pay: We can make payments by scanning the QR code and can give QR to others to receive payments.
• Transaction history: Past transaction history can be checked through BHIM, including completed and pending transactions made earlier. Any query related to incomplete or failed transactions can be made using the Report Issue feature.
• Profile: Users can view their QR code and payment address under the Profile section. QR codes can be shared using different applications like WhatsApp, Email, etc.
• Bank Account: The linked bank accounts with the BHIM application can also be viewed. The user can check his balance, change passwords, change his bank accounts, or link more accounts with BHIM. Many other features give users a better experience.
• Language: Many languages are available in this application which helps to enhance users’ experience.
• Block users: The users can reject or block someone who may be spam or frequently sending collect requests.
• Privacy: A user can make multiple UPI IDs and have the option to turn on and off another one with their mobile number (mobilenumber@upi) under the profile section.
• Scan: To make any transfer or payments, we can scan any QR code using UPI ID and BHARAT QR logos through the BHIM app. To let others pay the user, he can also make his own QR code. QR codes are unique for every user and linked to his bank account.
• IPO using BHIM: The consumer can choose UPI ID as a payment option while using IPO on National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
• Bill Payments: The user can pay bills under the in-built utility feature of the BHIM app via BHIM BillPay.
• UPI Autopay: We can set up recurring e-mandates for costs like mobile bills, power bills, EMI payments, OTT subscriptions, and many more using the UPI-enabled app.

Steps of Downloading and Registering with BHIM

1. Download and install the BHIM app from Google Play Store.
2. Select your preferred language after opening the application.
3. Give access to SMS, Phone calls, and storage.
4. Confirm the mobile number connected to the bank account. An automatic SMS will be sent for verification, but the SIM registered with the bank account must be on the mobile phone.
5. Create a four-digit passcode which must be used to log into the app.
6. Confirm the passcode by re-entering it.
7. Select the bank from the given list, which is UPI-compatible.
8. Your bank account details will be instantly found by entering your debit card details.
9. After the successful registration, the home page of the BHIM application will be displayed.
10. The account is now successfully registered with BHIM and is ready to use.

BENEFITS of BHIM

• BHIM allows transferring money from one bank to another using VPA, account number, and IFSC code or QR codes.
• Users can request payments using a Virtual Payment Address.
• One can scan QR codes, make payments, and generate their QR code for payments.
• Sharing QR codes is accessible with a single tap and can be sent on WhatsApp and email.
• The activity of linked accounts and pending or canceled transactions are searchable.
• Complaints can be lodged for failed transactions under the Report Issue option.
• Passwords and UPI pin can be changed in this app. The bank accounts linked with the app can be changed or delinked by the user.
• There are several regional languages by which the user can get familiar with the app.