BHIM App for iPhone may Soon Replace PayTm for Money Transactions

BHIM app for Money transfer
BHIM app for Money transfer

With the aim of developing a clean, transparent and swift digital network for cash flow, the government of India introduced BHIM app aka Bharat Interface for Money app. This mobile payment app was launched by PM Narendra Modi last month, at the ‘Digi Dhan Mela’ in New Delhi.

Initially the BHIM app was available for Android users (version 4.1 and above), however, now, the app has made it to the tabloids again because the new iOS version for this app is now available in Apple Stores. It means that the iPhone users can use this app in place of PayTm, for conducting monetary transactions. This information was made public by the developers of BHIM app, that is the National Payments Corporation of India.

BHIM for iOS (Apple Devices)

BHIM app for iOS platform is furnished with a user-friendly mechanism like customer redressal mechanism, a drop-down menu to prevent new page creation, digital payments made to Aadhaar number, etc. The app is available for iOS devices (version 5) and above. With this, now the BHIM app will cater to the requirements of about 80% smartphone users all over the country. Hopefully, it’ll prompt more users to download this app.

For those who don’t know, the app is a revamped variant of Unstructured Supplementary Service Data (USSD) and Unified Payment Interface (UPI). Out of the two, since the UP is developed on IMPS system (Immediate Payment Service), it takes just a few seconds to transfer money through this app.

Facts you Must Know about BHIM Mobile Application

Initially the BHIM app was available for Android users (version 4.1 and above), however, now, the app is now available for iPhone users on Apple Store.
Initially the BHIM app was available for Android users (version 4.1 and above), however, now, the app is now available for iPhone users on Apple Store.

You ought to be living under the rock if you haven’t used this app, at least once. In case you didn’t, here are a few things that you ought to know about BHIM mobile app.

  1. BHIM app was launched post-demonetisation to conduct seamless digital transactions. The government believes it’s a powerful weapon that could drive India towards a cashless economy.
  2. The app barely consumes about 2MB space. Till date, over 2 million users have downloaded this app worldwide.
  3. BHIM users can easily transfer money (minimum amount Re 1 and maximum amount Rs 20,000) in a day. Rs 10,000 can be transferred per transaction.
  4. Currently, you can use just one ‘Aadhar-linked’ account with BHIM account. In case, you want to use more than one account, you’ve to choose a ‘default’ account first. Thereafter, money will be transferred to your default account.
  5. The basic requirements for using BHIM app include: A smart phone with working internet condition and an ‘Aadhar verified’ bank account in a government bank. Your account should have a phone number attached to it and support UPI payments.

As of now, the government hasn’t imposed any charges on monetary transactions occurring through BHIM app. By doing so, the developers aim to beat PayTM at its game. They’re hopeful that the app might replace it in Indian markets, soon.

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