What is the Full Form of BHIM?

The full form of the BHIM app is Bharat Interface for Money. BHIM is a mobile application used for mobile payments and has been developed by the National Payments Corporation of India. The app allows you to make quick money transfers using the Unified Payments Interface or UPI. It works on all IOS, Android, and Windows phones. With this app, users are seamlessly able to make transactions from one bank to another and send money using a mobile number or VPA (Virtual Payment Address). The BHIM app was launched in 2016 to promote online transactions.

What is UPI?

UPI or the full form of UPI Unified Payments Interface is an instant payment system of India developed by the National Payments Corporation of India in 2016. This system lets the user use multiple bank accounts (of any participating bank) with a single mobile application. It helps merge several features of banking as well as merchant payments under one hood.

Advantages of BHIM

If you want to make quick and hassle-free transactions, then you must consider using this app. Now that we know the full form of BHIM let us now look at the advantages of the BHIM application:

• The users can transfer money through different methods, like an IFSC code and VPA Account Number, Aadhar Number, or QR code.
• It is a single payment method or app for all banks
• It offers a scan code that you can use to receive money payments 
• It lets the app users search transaction history as well as any outstanding requests for UPI collection.
• It has a robust complaints system in case your transaction is declined and the payment is cut. 
• The users can set or change the  UPI PIN. Moreover, they can modify as well as add the bank account, view the account status, select which account to make transactions from, and much more.
• this application is compatible with 20 regional languages now.

Also Read: What is the Full Form of KB?

Features of BHIM

The BHIM application has three main features:

• It is used for sending money securely to other bank accounts using a mobile number or unique payment address.
• Apart from this, the application also allows users to pay and receive money for any goods and services using their mobile number, QR code, and UPI pin.
•  The application allows users to request money from other people 

How to Install and Use the BHIM Application?

Following are the steps for downloading and using the application:

1. You can download the app from Apple App Store or Google Play Store
2. Then you will have to open the application and choose the language you want prompts on the application.
3. You will have to allow the application access to SMS and phone calls
4. Users will be asked to confirm the mobile number that is registered with the bank account that they are using. For confirmation, an SMS will be sent from your registered mobile number. 
5. You will also have the option to set up a password
6. Enter the passcode to log into the application 
7. The user will have to select their UPI-activated bank from the list of banks that have been provided on the application.
8. The user will have to generate a specific four-digit password or UPI PIN for making transactions. This will be done by providing the app with the last six digits and the expiry date of your debit card. 
9. After this, the account will be successfully registered and ready for use.
10. To use the account, the user will have to either scan the QR code of the recipient, pay the recipient through their UPI ID or their registered mobile number. 

Also Read: What is the full form of UPI?

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