Demonetisation has made Indian citizens go cashless. Soon after the announcement digital wallets companies like Paytm, Freecharge, and Mobikwik added the custom values and took over the announcement and made the profit out of it (which is quite obvious).
Over past few days, the government is holding ‘Digi Dhan Mela’ camps in different cities to educate and broader the vision of going cashless. Today, PM Narendra Modi has launched a rebranded version of Unified Payments Interface (UPI) app called ‘BHIM’.
What Is BHIM?
BHIM stands for Bharat Interface For Money, which developed by National Payments Corporation of India (NPCI) and is available for Android smartphones via Google Play Store.
This app comes with a really simple interface and is built for the easy use of the people. The size of the app is 2MB, which directly points out that this app can be run of any smartphone with ease.
How To Use BHIM App?
This app has a minimal design with great comfort (in using) even for someone using a smartphone for the first time. Well, on opening/starting this app, you will be asked to give permissions to send and receive SMS and register your phone number.
[IMG: BGR.in]
And once registered, you will be asked to set a 4-digit passcode and now, you have to choose your bank and that’s it. you are now all set to go.
Adding Bonus
Much like it sounds, you can now send money, request money or scan and pay using QR Code. Though you can create your customized UPI address, your registered mobile is your default UPI address (i.e registered mobile number@upi, eg; 9876543210@upi).
ALSO READ: Aadhaar Payment App: Digitizing Your Payments, How It Works?
Transaction Cut-Off
Talking about the limits, you can transfer as low as Re 1 and maximum of Rs 20,000 per day. However, in a single transaction, you can only transfer a maximum of Rs 10,000.
This is one simple app for UPI payments. Indian Government is adding value to the cashless society especially by continuously pushing it with necessary grains such as USSD based transactions, Aadhaar payment App and so on. what do you guys think about going cashless? Are you happy with the demonisation? Will our society ever be cashless? Let us know your thoughts in the comment section below and don’t forget to react.
