By Vyomi Chheda
In a significant push towards the ‘less-cash’ goal of the government, Prime Minister Narendra Modi launched the BHIM (Bharat Interface for Money) app on Friday, 30th December 2016. The announcement was made at the Talkatora Stadium in New Delhi during the inauguration of the DigiDhan Mela.
Revolutionising the notion of angootha chhaap
The Unified Payment Interface (UPI) was launched earlier this year that enables users to make direct transactions using bank accounts. BHIM app is interpolable with other UPI applications and bank accounts. The app allows one to make quick, easy and hassle free transactions without an intermediary e-wallet.
A simple mobile number or payment address is enough to carry out transactions. Other ways to make payments using this app include using QR codes and IFSC and MMID codes for banks that are not yet supported by UPI. The transaction limit for each day is Rs 20,000 with the limit for each transaction being Rs 10,000. The app is currently available in only English and Hindi, but more languages are expected to be added soon in the newer versions.
Checking balance, sending and receiving money, all can be done in one click.
BHIM is currently available only for Android phones but an iOS version is soon expected to be released. Another highlight is that this app does not require any internet connection and can be used on phones with simple features as well (by dialling *99#).
The app has been named after Dr Bhim Rao, the father of the Indian Constitution.The aim of this app is to empower the poor and enable them to join the Digital India movement.
The aim of this app is to empower the poor and enable them to join the Digital India movement.
The Prime Minister said: “It is for the small merchants, farmers in far-flung areas and tribals. That’s why the name has been borrowed from the man who sacrificed his life for the downtrodden.”
Although PM Modi urged the people to use at least 5 digital transactions a day from January 1st, an Aadhar Payment System will be launched in the next 2 weeks. This will enable one to access BHIM using only finger prints. Mr Modi said: “Currently, it is being security checked. After it is launched, BHIM will not need mobile phone, internet or even a single feature. It will only need your thumb (fingerprint).”
This new advancement will give a whole new meaning to the “angootha chhap” notion that is widely spread across the country. It is expected to hit the booming e-wallets in the country. A promising revolutionary payment system that covers a wide yet difficult target group, and has an emotionally appealing strategy, BHIM seems to be the last stroke of 2016.