BHIM - MAKING INDIA CASHLESS is a finance app developed by National Payments Corporation of India (NPCI) to promote digital transactions and cashless payments in India. With BHIM UPI, users can transfer money instantly and securely from one bank account to another, without the need for any third-party app or wallet. The app follows the guidelines of the government's Digital India initiative and aims to make financial transactions more transparent and convenient for everyone.
Features
1. Easy-to-use interface
The BHIM app has a simple and user-friendly interface, making it easy for anyone to use it for day-to-day transactions. The app supports both Hindi and English languages, and the menus are customizable based on the user's preference.
2. Multiple language support
The app supports over 13 Indian languages, making it easy for people from different regions to use the app without any language barriers. This feature makes it a favorite among people who prefer vernacular languages.
3. Bank account linking
Users can link their bank accounts with BHIM, and the app supports accounts from over 140 banks in India that have adopted the UPI platform. With this feature, users can access their bank accounts and check their balance without the need for multiple banking apps.
4. QR code-based transactions
BHIM supports QR code-based transactions, which enables users to pay merchants by scanning the merchant's QR code from the app. This feature reduces the need for physical payments and makes transactions more convenient.
5. Bill payments
The app also allows users to pay their bills such as electricity, water, and gas, making it more convenient for people to pay their bills online, without the need to visit the biller's office physically.
Pros
1. Instant Transactions
BHIM provides instant transaction confirmation, making it an ideal platform for businesses that require quick payments. The money is transferred from one bank account to another in real-time, making the transactions safe and secure.
2. Low Transaction Fees
BHIM charges a minimal amount of transaction fees compared to other banking apps, making it cost-effective and affordable for the average user.
Cons
1. UPI Enabled Bank Accounts Required
BHIM works only with UPI-enabled bank accounts, which means that users who do not have bank accounts linked to UPI cannot use the app, which can be a disadvantage for people who are not familiar with digital payments.
Detailed Comparison to Similar Apps
BHIM competes with other digital payments apps like Paytm, PhonePe, Google Pay, and many others. While BHIM has fewer features than its competitors and supports only UPI transactions, it has an edge over its competitors because of its ease of use and low transaction fees.
Tips for Using the App
For a seamless experience, make sure to link your bank account correctly to BHIM, and keep your UPI pin safe and secure. BHIM provides an option to change your UPI pin from time to time, which is recommended for security reasons.
Conclusion
If you want to move towards a cashless economy, BHIM - MAKING INDIA CASHLESS is a must-have app on your Android device. With its user-friendly interface, quick transactions, and low transaction fees, it offers great value for money. However, if you are not familiar with UPI-based transactions or prefer using e-wallets over direct bank transfers, then BHIM might not be the ideal choice for you.
Updated 04-29-2023
Overview
BHIM - MAKING INDIA CASHLESS is a finance app developed by National Payments Corporation of India (NPCI) to promote digital transactions and cashless payments in India. With BHIM UPI, users can transfer money instantly and securely from one bank account to another, without the need for any third-party app or wallet. The app follows the guidelines of the government's Digital India initiative and aims to make financial transactions more transparent and convenient for everyone.
Features
1. Easy-to-use interface
The BHIM app has a simple and user-friendly interface, making it easy for anyone to use it for day-to-day transactions. The app supports both Hindi and English languages, and the menus are customizable based on the user's preference.
2. Multiple language support
The app supports over 13 Indian languages, making it easy for people from different regions to use the app without any language barriers. This feature makes it a favorite among people who prefer vernacular languages.
3. Bank account linking
Users can link their bank accounts with BHIM, and the app supports accounts from over 140 banks in India that have adopted the UPI platform. With this feature, users can access their bank accounts and check their balance without the need for multiple banking apps.
4. QR code-based transactions
BHIM supports QR code-based transactions, which enables users to pay merchants by scanning the merchant's QR code from the app. This feature reduces the need for physical payments and makes transactions more convenient.
5. Bill payments
The app also allows users to pay their bills such as electricity, water, and gas, making it more convenient for people to pay their bills online, without the need to visit the biller's office physically.
Pros
1. Instant Transactions
BHIM provides instant transaction confirmation, making it an ideal platform for businesses that require quick payments. The money is transferred from one bank account to another in real-time, making the transactions safe and secure.
2. Low Transaction Fees
BHIM charges a minimal amount of transaction fees compared to other banking apps, making it cost-effective and affordable for the average user.
Cons
1. UPI Enabled Bank Accounts Required
BHIM works only with UPI-enabled bank accounts, which means that users who do not have bank accounts linked to UPI cannot use the app, which can be a disadvantage for people who are not familiar with digital payments.
Detailed Comparison to Similar Apps
BHIM competes with other digital payments apps like Paytm, PhonePe, Google Pay, and many others. While BHIM has fewer features than its competitors and supports only UPI transactions, it has an edge over its competitors because of its ease of use and low transaction fees.
Tips for Using the App
For a seamless experience, make sure to link your bank account correctly to BHIM, and keep your UPI pin safe and secure. BHIM provides an option to change your UPI pin from time to time, which is recommended for security reasons.
Conclusion
If you want to move towards a cashless economy, BHIM - MAKING INDIA CASHLESS is a must-have app on your Android device. With its user-friendly interface, quick transactions, and low transaction fees, it offers great value for money. However, if you are not familiar with UPI-based transactions or prefer using e-wallets over direct bank transfers, then BHIM might not be the ideal choice for you.