BHIM APP, also referred as, Bharat Interface for Money, which was recently launched by government, is one of the effective apps to deal with the loopholes of Demonetization scheme. The initiative taken to promote this app also shows that government is actually willing to take appropriate steps to make India, a cashless economy. The primary objective of the government is to reach out to socially disadvantaged and marginal sections of the country who remain unaware of usage of many other alternatives for making payments other than liquid cash.
Prime Minister has hailed Bhim App as pro-poor. Hence it can be said that it aims at digitalizing the poor and unprivileged. What makes this app different from other online applications which are used for transactions is that it is more safe and secure as it allows the use of thumb for activation. Undoubtedly, the app caters to the needs and demands of the people in the most effective way. Surely, there is no rocket science needed to become a part of government’s initiative.
Bhim App Download Link Android & iOS
1] Click here if you are using android phone
2] Bhim iOS version is not yet available, it will be launched soon.
HOW BHIM APP WORKS?
All you need is your smart phone with internet facility and the item of your choice is just a click away .All you need to know is the bank account number or payment address of the payee to make your payments. Therefore, the app aims to simplify digital payments and can be accessed feature phones and smart phones.
1] You can download the app by following the link given below: http://ift.tt/2ip0fpt
2] Select language : Hindi or English. When it prompts, allow access for sms & phone state. Then choose only that sim which is linked to your bank account.
2] Register your bank account with Bhim and set a Unified Payments Interface (UPI) PIN for the bank account.
3] Mobile number is payment address (PA) and you can simply start transacting; can send cash, receive money from friends, family and customers through mobile number or payment address.
4] Money can also be sent to non- UPI supported banks using IFSC (Indian Financial System Code) and MMID (Mobile Money Identifier).
5] One can also collect money by sending a request and reverse payments if required. It Allows checking of bank balance and transaction details in one go.
6] One can create a custom payment address in addition to a phone number. One can scan a QR code for faster entry of payment addresses. Last but not the least; the app is currently supporting Hindi and English languages.
WHY ARE DIGITAL PAYMENTS MORE SECURE?
The government has been encouraging the use of mobile wallets, digital transfer payment methods etc even since it initiated Demonetization scheme last month. There are significant reasons why such methods for payments are becoming popular among the users. Some of the few advantages of using digital methods are:
- More convenient as you don’t always need to have cash in hand.
- Allows you to make payments anytime, anywhere.
- Allows users to make quick transactions.
- Easily accessible.
- Very convenient method to make transactions.
WHY USE BHIM APP OVER OTHER DIGITAL TRANSACTION METHODS? (ADVANTAGES)
- What makes this app stand out in the crowd, where users have multiple options of digital payments available is the fact, that it is the most safest and reliable. All you need to have is a smart phone or a feature phone, to use the app. Hence, there is no need to have internet connectivity. All you need is thumb. We all know that there are always risks associated with making digital transaction payments. Users are usually very cautious even when it comes to using other apps like Paytm, Mobikwik, Free charge, PayUMoney etc. But this app tackles these problems very efficiently.
- Most importantly, the app is more flexible in its dealings as compared to other apps. The transaction limits allow you to withdraw Rs 10,000 per transaction and Rs 20,000 within 24 hours. While, in other digital payment methods, there are a lot of formalities with respect to this.
- Unlike other apps, the app establishes direct interface between government and users. It discourages the role of intermediaries and allows money to be transferred from one account to another without any hassles.
- Also, It allows transaction to take place with a click of a button and hence allows easy exchange of money. Also, as discussed above, having an internet connection isn’t compulsory. This is most sort out option for people residing in areas with weak cellular coverage.
- The app is available in English and Hindi for now. But very soon it would be available in many other languages so that it can reach to each and every nook of the country. Yes, you heard it right , the app will soon be available in many other regional languages.
- What makes it unique is that it is simplistic to use. Unlike other apps, which ask you for hundreds of details before you become a part of it, this app doesn’t allow you to indulge in many formalities. All you need to do is sync the app with your Adhaar Number and Bank Account.
- You don’t need to create highly secured passwords as there is a full proof system of biometric reader which assures that your account cannot be accessed by anyone else other than you. This eliminates the need to have other MPINs and passwords. Hence, it ensures that your safety is topmost priority.
CONCLUSION
Hence, in a nutshell, it can be said that Bhim App is going to pose a threat to various competitors in market. It has all encompassing features which are needed to attract the user base to choose this app over other hundreds of digital options available in the market. With its exclusive features, it is expected that the app will replace other options like Paytm, Mobikwik, freecharge in no time. It would be interesting to know that Paytm also released a new version of their app with a new feature that allows wallet-to-bank transfer. This clearly indicates that they fear their new rival in the market. It can be foreseen that the app will work to eliminate cut throat competition which has been prevalent in the market since Demonetization.
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