Prime Minister Narendra Modi launched one app called BHIM this previous week as on December 30th at an event as a support for Go cashless India. This is just an initiative by Indian government to enable really quick and secure cashless payments with the help of your mobile phone.
Bharat Interface for Money (BHIM) is interoperable with other UPI applications and bank accounts as well.
This app is made in India and already on the top of the Google’s Play Store in India. This is with a rating of 4.0.
How does it Work?
Well with BHIM you need to register your bank account with this app. And set a UPI pin for the same bank account after that. Your mobile number is all you need as a payment address so that you can start transacting easily. This is as simple as anything.
This app is basically in a competition of PayTm which was gaining all the popularity after the 500/1000 notes ban. Now this app is going to provide you the better facilities as per the government.
Using this app now you can send or receive money from anywhere through a mobile number. And most importantly money can also be sent to non UPI supported banks as well by using IFSC Code.
By using this app you can easily check your bank balance and other transactions details as well and that is just a click away.
Transaction limit will be 10,000 rupees at one time and other than that you can transact Rs 20,000 in a day (within 24 hours).
Addressing at an event, Prime Minister Narendra Modi mentioned that this app will give power to the poor people. “This initiative is just for the small trade and farmers.
As per a report, this app doesn’t need any internet connection and that can run on any of your phone. And going further Aadhaar based payments will be there.
Hats off to the brilliance of Narendra Modi for this initiative. Let’s see what next is in the stores for all of us.