Here are five things you need to know about the BHIM app:
BHIM or Bharat Interface for Money is a rebranded version of Unified Payment Interface or UPI and Unstructured Supplementary Service Data or USSD.
The BHIM app can be used on a smartphone or a regular feature phone, and soon it will be improved so that one only has to use their thumb to make payments.
"Be it a smartphone or feature phone of Rs 1,000-1,200, BHIM app can be used. There is no need to have Internet connectivity. One only needs a thumb. There was a time when an illiterate was called 'angutha chchap'. Now, time has changed. Your thumb is your bank now. It has become your identity now," the PM said.
The BHIM app can be downloaded for Android phones from the Google Play store. It will later be made available on the iOS platform too.
To use BHIM, one needs to register their bank account through the app and set up a UPI pin. Through BHIM, one can send or receive money to another phone number, check balance and even scan a QR code to make payments. Using BHIM, money can be sent to non-UPI banks through IFSC as well, just like net banking.
(With inputs from agencies)
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