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Bharat Interface for Money (BHIM)

Bharat Interface for Money (BHIM) is a digital payments solution app based on the Unified Payments Interface (UPI) from the National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments systems in India.

BHIM was launched on December 30, 2016  by Prime Minister Narendra Modi dedicated to Dr. B R Ambedkar at Digi Dhan Mela, to promote digital transactions using the Unified Payments Interface (UPI), a bank-to-bank fund transfer system backed by the Internet and smartphones, using phone numbers linked to banks.

  • Bharat Interface for Money (BHIM) is an initiative to enable fast, secure, reliable cashless payments through your mobile phone.
  • BHIM is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts.
  • BHIM is developed by the National Payment Corporation of India (NPCI).
  • BHIM is made in India and dedicated to the service of the nation.
  • Currently, Bharat Interface for Money supports linking of one Bank at a time.
  • Currently, there is a limit of Rs10,000 per transaction and Rs20,000 in a day for transfers through the bank account.
  • The app, which is currently available in Hindi and English, is expected to be launched in other regional languages soon.
  • There are no charges for making transaction through Bharat Interface for Money. however your bank might levy a nominal charge as UPI or IMPS transfer fee which is not under our control.
  • The BHIM app is supposed to support Aadhaar-based payments, where transactions will be possible with just a fingerprint impression, but that facility is yet to start.
  • BHIM will let you send and receive money to other UPI accounts or addresses.
  • You can also send money via IFSC (Indian Financial System Code) and MMID (Mobile Money Identifier) Code to users who don’t have a UPI-based bank account.
  • There’s also the option of creating your own QR (Quick Response) code for a fixed amount of money, which the merchant can scan to make the deduction.
Requirements to BHIM App:
  • Smartphone,
  • Internet access,
  • An Indian bank account that supports UPI payments
  • Mobile number linked to the bank account.Link your bank account to UPI through the app.

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