It’s been just four days since it’s launch and the digital payment app BHIM has become the top app in Google Play Store in India and people have already made over 5 lakh transactions so far, Niti Ayog CEO Amitabh Kant said.
Prime Minister Narendra Modi launched the BHIM app which stands for Bharat Interface Money on Friday, December 30 in a bid to increase in adoption of digital or e-payments.
BHIM is named after Dr BR Ambedkar, the PM said on Friday when he announced the new app.
BHIM is currently available only for Android phones. A version for Apple is expected soon. In two weeks, the Prime Minister said, security features will be amped up to allow payments only with the use of a thumbprint – no Internet connection or smartphone is needed to pay or receive money.
Here’s everything you need to know about the BHIM app :
- BHIM can be used by anyone with a working phone and a bank account linked to that phone number. You can use it to send and receive money directly to bank accounts.
- BHIM is free to download, and it’s number one on the Google Play Top Free list.
- On Google Play – the Android store for apps – it shows that there are 1,000,000 to 5,000,000 downloads. Niti Ayog CEO Amitabh Kant tweeted that it has been downloaded 3,000,000 times, and that it has seen 500,000 transactions already.
- The app automatically uses your phone number to identify and link your bank – if you want to use a different account, you can change this manually as well. Only one account can be linked to the app at a time.
- If the shopkeeper uses the BHIM app too, just open the app on your phone, choose “send money”, and type in the amount and the merchant’s phone number to make the payment. The money will be debited from your account, and credited to the merchant’s bank account.
- The app also allows you to scan a QR code. The merchant can generate his QR code through the BHIM app. To pay him, you’d need to tap the Scan and Pay button in the app, and then scan the QR code.
- Even without a smartphone or an Internet connection, anyone can use BHIM to make payments.You need to dial *99# from any kind of mobile phone, and this will show a menu – by typing in different numbers you can choose to send money, check your balance, or see transaction history.
- To start using the app for the first time, you need to verify it once using an OTP. Some users have reported issues in getting this OTP, and others have reported freezes with the app. In our experience, the app was easy to set up and use.
- There is a Rs. 10,000 per transaction limit and Rs. 20,000 per day for BHIM. For larger transactions, you will still have to use a credit or debit card, or IFSC or another form of net banking.