BHIM – Bharat Interface for Money Application

The Bharat Interface for Money (BHIM) mobile app was launched by Narendra Modi on 30 December 2016 in New Delhi.The BHIM app is dedicated to Dr. Bhimrao R. Ambedkar

Platfotm: Android, iOS and Window mobiles

• The app is based on the Unified Payments Interface (UPI) . It is an open platform and not a mobile wallet
• Bank-to-bank payments and Pay and collect money using just Mobile number or Virtual Payment Address (VPA). 

Developer:

• The app was developed by the National Payments Corporation of India (NPCI).

Available Languages:

• Currently BHIM is available in 20 languages inclusive of English. 

Process of Transaction:

We can send or receive money to different bank accounts with ZERO Transaction charges by using

1. UPI payment addresses by dialling star99hash(*99#)
2. Account number with IFSC(Indian Financial System Code) code or MMID (Mobile Money Identifier) Code
3. QR (Quick Response) code for a fixed amount of money
4. ‘Pay to Aadhaar Number’ – can transfer money to the Aadhaar number linked with beneficiaries’ bank account.

Limits:

• Maximum of Rs. 10,000 per transaction and Rs. 20,000 within 24 hours. The limit for USSD has currently been set at ₹5,000 per day.
• A user can send upto Rs 40,000 per transaction and a maximum of Rs 40,000 per day for one bank account. This limit is available per bank account linked on BHIM.
• The BHIM app enforces a limit of 20 transactions per account per bank in a day.
• When it comes to UPI transaction charges, person-to-person (P2P) transactions are free-of-charge. However, there may be transaction charges for the transactions between NPCI and service providers.

Remarks:

• The BHIM app has ‘SPAM Report’ for collect requests to block unknown persons requesting for money.
• BHIM app has recorded 18 million downloads till March 2017

BHIM 2.0: BHIM 2.0 includes a ‘Donation’ gateway, increased transaction limits for high value transactions, linking multiple bank accounts, offers from merchants, option of applying in IPO, gifting money.