Unified Payment Interface (UPI) allows all banking concern draw of piece of job concern human relationship holders to pay coin from their smartphones, both online as well as offline, without the demand to piece of job inwards credit card details, IFSC code, or cyberspace banking userID/passwords.
All the users demand to create is create a Virtual Payment Address (VPA) of their choice, which volition deed equally their fiscal address, as well as link it to their banking concern account.
Now inwards an attempt to boost the adoption of Unified Payments Interface (UPI) equally a tool for digital transactions, Indian Government has lately launched a novel app called, the Bharat Interface for Money (BHIM) app.
This novel digital payments app, which is believed to last a game-changer for cashless payments inwards India, is currently available for download exclusively inwards Google Play Store, which agency iOS users cause got to await for merely about time.
BHIM is linked to to a greater extent than than thirty individual as well as world sector banks including State Bank of Republic of Republic of India (SBI), Axis Bank, HDFC Bank, ICICI Bank, IDBI, Union Bank of Republic of Republic of India (UBI) as well as Kotak Mahindra.
BHIM has decease thence pop inwards the province that the UPI-based payment app has directly crossed 3 Million downloads on Google Play Store, as well as according to NITI Aayog CEO Amitabh Kant, people cause got already made over 500,000 transactions using the app.
Developed past times the National Payment Corporation of Republic of Republic of India (NPCI), The UPI-based app links your registered mobile pose out as well as smartphone alongside your banking concern accounts to enable safe, secure as well as unproblematic cashless transactions.
The app is also supposed to back upwards Aadhaar-based payments which volition allow users to brand transactions alongside their fingerprint impressions, but the characteristic is withal to gyre out alongside the novel release.
Here's How to Download as well as Set-up BHIM App
1. Just download BHIM from Google Play Store, direct a linguistic communication as well as click Next push few times.
2. The app volition as well as then inquire your permission to post an SMS to verify if your telephone pose out is registered alongside your banking concern account.
3. The app automatically takes a few seconds to verify your telephone pose out through your phone's unique IMEI pose out past times sending a message to its servers.
4. Once verified, BHIM app asks for a four-digit PIN which is required to log into the app as well as authorize transactions.
NOTE – Don't larn confused, equally this 4-digit PIN is non your UPI PIN, it's merely a password to lock the BHIM app.
5. The BHIM app volition directly demo you lot the listing of banks. You merely demand to select your bank, as well as remainder the app volition automatically fetch all the details of your banking concern draw of piece of job concern human relationship past times using your telephone number.
6. The app rapidly detected my HDFC Bank inwards a thing of seconds. Simply click on your draw of piece of job concern human relationship pose out to link your banking concern draw of piece of job concern human relationship to Bhim UPI Payments app.
NOTE – Currently, BHIM supports linking of i Bank at the fourth dimension only. In illustration you lot desire to link merely about other banking concern account, you lot tin decease to Main menu, direct Bank Accounts as well as select your default account.
7. Once you've finished setting up, you're create to showtime accepting as well as making payments using the UPI Payments interface.
How to Set/Reset UPI PIN inwards BHIM App
If you've already fix a UPI-PIN alongside other UPI apps, you lot tin role the same PIN for BHIM app, or RESET UPI PIN past times providing your 6-digit card pose out as well as card expiration appointment or Change UPI PIN past times providing existing PIN as well as confirming novel PIN twice.
NOTE – Please don't part your UPI-PIN alongside anyone. BHIM does non shop or read your UPI-PIN details, as well as your bank’s client back upwards volition never inquire for it.
How to Send as well as Receive Payments using BHIM App
To Send money:
- Click on the SEND icon.
- Enter payee's mobile pose out or the Virtual Payment Address (VPA). (Click 3 dot card inwards correct elevation corner, if you lot desire to post coin straight to a banking concern draw of piece of job concern human relationship using IFSC code)
- Enter the sum as well as remarks to post money.
- Finally, piece of job inwards the UPI-PIN as well as continue, That's It.
To Receive Money:
Click on the RECEIVE icon.- Enter payee's mobile pose out or the Virtual Payment Address of the soul from whom you lot desire the money.
- Enter the sum as well as remarks as well as submit.
- The payer would larn a notification, as well as he/she tin bring or decline the payment.
The BHIM app is non merely about other online wallet similar Paytm as well as MobiKwik, equally for transferring coin to anyone using BHIM, the sender doesn't necessarily demand to last on the BHIM app as well as all they demand is a banking concern draw of piece of job concern human relationship to have payment.
However, inwards the illustration of online wallets such equally Paytm as well as Mobikwik, coin tin exclusively last sent to someone who is using the same online wallet.
