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Bharat Interface for Money 

Bharat Interface for Money 
Highlights

The BHIM (Bharat Interface for Money) app allows customers to transact electronically without having to use a credit or debit card, or by creating and...

The BHIM (Bharat Interface for Money) app allows customers to transact electronically without having to use a credit or debit card, or by creating and storing a mobile wallet. BHIM is now available as an Android version download now, and iOS is coming soon.

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, 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 send money, for example, you'd type '1' and hit send, then type '1' again to select mobile number. Next, you'd type in the number and the amount, and then a PIN that can be generated using BHIM. This will work on any phone - even Rs. 1,000 feature phones - without an Internet connection.

Shopkeepers can use the BHIM app and receive money from a smartphone, or if the customer has linked a bank account and her Aadhaar ID, then the merchant can use Aadhaar Pay, an app that was soft-launched days ago. The merchant has to have a fingerprint reader. This is currently being distributed free in Aadhaar Payments pilot projects around the country.

On the shopkeeper's phone, the customer types in his/her Aadhaar number and chooses his/her bank. Then, the shopkeeper uses the fingerprint reader for instant confirmation to complete payment. The customer doesn’t need to carry his/her Aadhar card, or use a phone, only the merchant needs these.

With a mobile wallet app, you have to load money in the wallet before you can use it. With BHIM and all UPI (United Payments Interface) apps, you can directly connect your phone to your bank account - like a debit card. Payments are happening directly from and to bank accounts, so merchants don't have to worry about transferring wallet earnings to the bank either. There is a transaction limit of Rs 10,000 and Rs 20,000 per day for BHIM.

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