BHIM full form stands for Bharat Interface for Money which is a mobile payment app developed by the National Payments Corporation of India (NPCI). It is a simple way to transfer money from one account to another. It’s based on the Unified Payments Interface (UPI) that permits you to form simple, easy, and quick payment transactions using UPI.
Through VPA that is an abbreviation of Virtual Payment Address or a mobile number; you pay money online and also, can make bank to bank money transfers.
This BHIM was introduced within the year 2016 to promote digital payments and reduce the use of hard money.
What Are The Features / Benefits Of BHIM?
You will link the bank account and set or change the UPI PIN. You’ll also change the bank account, check balance, and more.
This option is available to improve the user experience through offering regional languages.
These features will let the user block other users who are frequently sending collect requests.
Send and Request Money:
It allows you to send money through a Virtual Payment Address (VPA), Account Number & IFSC code, Aadhar Number, or QR code. You’ll also receive money by entering Virtual Payment Address (VPA).
Scan & Pay:
Through scanning the OR code you can pay the money and may also generate QR code to receive payments.
It allows you to see transaction history and pending UPI collect requests. You’ll also raise a complaint if a transaction declines by clicking on Report issue.
You’ll view the static QR code and payment addresses and share the QR code through various messenger applications like whatsapp, Email, etc.
Steps To Use Or Download BHIM APP
From the Google Play store download and install BHIM app:
Step 1: Open the app and choose your preferred language.
Step 2: Give allowance to the app to manage SMS and Phone calls.
Step 3: If you’ve got a dual Sim phone, you’ll be asked to verify your mobile number registered together with your checking account. SMS are going to be sent for auto-verification. The SIM of your registered number should get on your mobile phone.
Step 4: Now, create a unique four-digit Passcode to log into the app and re-enter the pass code to verify it.
Step 5: Choose from the given list of banks and select your UPI enabled bank.
Step 6: Then, your bank account are going to be automatically fetched.
Step 7: Register yourself by providing your debit card details and the after successful registering. After that, the BHIM app home page will be displayed.
Step 8: Your account is now registered and is ready to use.
BHIM ka full form is “भारत इंटरफेस फॉर मनी”.