BHIM (Bharat Interface for Money)

BHIM stands for Bharat Interface for Money
Key Facts:
  • BHIM is Aadhaar-based payments app developed by the National Payment Corporation of India (NPCI).
  • The app allows easily transferring money or making a payment from your bank account using only phone number.
  • It can work even on basic phones as it supports USSD payments.
  • It has mobile wallet facility in which money can be loaded.
  • Using it anyone can directly connect their phone to bank account like a debit card.
  • The app also allows user to scan a QR code.
  • The merchant can also generate his QR code through the app.
  • Payment can be done through scanning QR code.
  • Merchants can also use the BHIM app to receive money from a smartphone or Aadhaar Pay if customer has linked a bank account and Aadhaar ID.
  • Payments through this app are happening directly from and to bank accounts, so merchants don’t have to worry about transferring wallet earnings to the bank account.
  • All major UPI connected Indian banks accepts money through BHIM app.
  • Even banks not connected to UPI can receive money through BHIM through IFSC assigned to banks.

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