BHIM what is it
BHIM (Bharat Interface for Money) is a digital payment application launched by the Government of India in December 2016 following the government’s decision to phase out certain currencies in order to promote a cashless economy. This application is developed by the National Payments Corporation of India (NPCI), an organization set up by the Reserve Bank of India (RBI) and the Indian Banks Association (IBA) to manage and promote electronic payments in India.
BHIM uses the Unified Payments Interface (UPI) platform developed by NPCI and launched in 2016. UPI is a real-time payment system that allows transfers between bank accounts using mobile phones. that easily include UPI It can also be used to pay at stores that accept UPI payments.
The BHIM app was officially launched on 30 December 2016 by the Honorable Prime Minister of India, Narendra Modi. Initially released only for the Android platform, and then available for iOS.
Since its launch, BHIM has gained widespread adoption. With millions of users and millions of transactions happening every month. The Government of India has also taken a number of measures to encourage the use of BHIM and other digital payment methods, including the launch of schemes and incentives to encourage citizens to use digital payments.
Is it safe to use BHIM
BHIM, like other digital payment applications, is generally considered safe to use if users take appropriate precautions to protect their personal data and devices. Here are a few steps you can take to keep your BHIM account secure:
- Use a strong unique password to secure your BHIM account. Avoid using easily guessed information such as your name or date of birth.
- Protect your mobile device with a screen lock password, fingerprint or face recognition.
- Do not share your personal information. including mobile phone number or UPI PIN. The BHIM app will never ask you for your UPI PIN or any other sensitive information over the phone or email.
- Be wary of suspicious or unwanted calls, text messages, or emails. who may try to collect your personal information
- Download the BHIM app only from the official Google Play Store or Apple App Store.
- Anti-Malware Firewall adds another layer of security.
- Regularly check your bank statement for unauthorized transactions.
It is important to note that the peculiarity of UPI is that users are not required to disclose sensitive personal information such as card numbers, CVVs, etc. They only use mobile phone numbers and virtual billing addresses (VPAs). The risk of obtaining such information stolen
If you suspect fraud or unauthorized access to your BHIM account, you should immediately contact the support provided by the app or your bank.
How to use BHIM
Here is a step-by-step guide on how to use BHIM to make a payment:
- Download and install the BHIM app from the Google Play Store or the Apple App Store.
- Open the app and select your preferred language.
- Next, register your mobile number with the app. You will receive an SMS with a verification code, which you will need to enter into the app to complete the registration process.
- Once you are registered, set a UPI PIN. This is a 4 or 6 digit number that will be used to confirm your transactions.
- Next, you need to link your bank account to the BHIM app. Select the bank account you want to link, and the app will automatically fetch the account details.
- Now you are ready to make a payment. To do so, tap on the “Pay” option on the app’s home screen.
- Enter the recipient’s mobile number or UPI ID (Virtual Payment Address), and the amount you want to pay. Confirm the details, and then enter your UPI PIN to authorize the transaction.
- You will receive a confirmation message once the transaction is completed.
In addition to sending money, BHIM also allows you to check your account balance and transaction history, generate a QR code for accepting payments, and set up recurring payments. You can also use BHIM to make payments at merchants that accept UPI by scanning the merchant’s QR code or by entering the merchant’s UPI ID.
Please note that, with the above steps, you’re just getting started with the basic feature of the BHIM app, there’s a lot more which can be leveraged as per the user’s needs and requirements.
I am not an Indian citizen, how can I use BHIM?
BHIM primarily intended for use by Indian citizens. This means that in order to use BHIM, you will need a mobile number that is registered in India and a bank account that is based in India.
Foreign citizens visiting India can also use BHIM, but they would need to have a mobile number with an Indian SIM card and a bank account in India. This can be done by opening a temporary account at the Indian bank with required documents and the account will be closed after their visit.
It’s worth noting that, although the app is primarily intended for use by Indian citizens, it can potentially be used by anyone with a bank account in India and an Indian mobile number, regardless of their citizenship. However, there might be some additional limitations or difficulties for non-Indians in terms of accessing and using certain features of the app.
As for using BHIM from outside India, it is not advisable as the app is primarily intended for use within India, and using it from outside India could have additional limitations.
How to exchange currency using BHIM
BHIM is primarily designed for digital transactions within India and as such, it does not have a built-in feature for exchanging currency. BHIM app is used for sending and receiving money in Indian rupees. However, if you are a foreign citizen visiting India and you need to exchange currency, you can do so through a bank or a currency exchange service.
You can also use BHIM to transfer money to an account holder in India but the transaction needs to be in Indian rupees, the transferor should have an account in India and should be able to transfer the funds in Indian rupees.
For exchanging currency, you can visit a bank or a currency exchange service provider where you can exchange your foreign currency for Indian rupees. Some of these services might have a minimum or maximum amount for currency exchange, and there may be additional fees associated with the transaction.
You can also use forex card which is linked to your foreign currency, at merchants accepting credit/debit card in India.
Note that, it’s important to check with the exchange service provider or bank for their current exchange rate and fees before you make the transaction, as these can fluctuate over time.
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