After demonetization, Prime Minister Narendra Modi launched the Bharat Interface for Money application also known as the BHIM app on December 30, 2016. The new app has been developed by the National Payment Corporation of India (NPCI) and makes use of Unified Payment Interface for transactions.
The best part of the app is it has a very user friendly interface and has multiple security features. Some analysts have called it as a game changer while talking about the ease of making cashless payments in India. On the launch day, the application faced high loads on its server that lead to some problems in traffic.
The app has now become the top free app on Google Play as it has managed to hit three million plus downloads since its launch. The users have to just open the play store app and search for ‘BHIM’ which is developed by the National Payments Corporation of India (NPCI) and there is no other listing from the developer. After installing, the application automatically pairs with the device and sends an SMS for verification. The user also has to set up the passcode for unlocking the application.
Once the application is opened the user has to select a bank from the list and for now 31 banks are supported. There are plans to add more banks in future. The app automatically receives information. The user also has to set up a payment address. Transactions can be made with the help of a secure QR code which is different from the QR code that is linked to the account. The QR code is meant for one time transactions. The user has to enter the amount with details on what the money is for. One of the major advantages of the BHIM app is that the money is not loaded in to the app before transactions but the transactions can be made directly through the banks that support UPI.

Photo Credits: hindustantimes

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