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Friday, December 30, 2016

BHIM is here, New UPI app, work in both smartphones and feature phone

How to  use #BHIM App? 

The work is in progress, amidst the demonitisation spree, the e-wallets, credit cards, net banking and all modes of cashless transaction has a new and potent competitor, ruther I would call it a peer. Government with much fanfair, has launched its new UPI app, #BHIM.

I got a glimpse of it. Here you go with the step by step process.

Step 1. download the NPCI APP #BHIM. from your google play store (Android handset)

Step 2. Register your passcode. choose any 4 digit of your choice

Step 3. choose your bank
Step 4. set up account - The app automatically detects your bank account details. You have to just confirm with your debut card details.

Step 5. key in the details and set up your UPI PIN. 
You are good to go.

For people who don't have a smart phone or don't want to use the app just yet, your solution is *99#. The USSD code detects your account and gives you 4 options to confirm your bank account. And there on you can't transact easily, including fetchinh your account balance and seeing mini statement. 

Hold on! there is more information in store about the app, which I want to share with you.

1. It works like your debit card , not credit card. So, using other mode of transactions are not getting obsolete.
2. It has a spending limit of 10 thousand per transaction and daily limit of Rs. 20 thousand.
3. I can see 33 banks are supporting this app, including most of the major banks. 

4. You can even remind for payments using the app

My point - Great initiative by Indian Government towards financial inclusion and penetrating rural India will be swift on #cashless or #lesscash journey. However, savvy users have many more options which are equally or more rewarding as well as convinient. So, BHIM is going to have its peers running paralally with it in this country with immense diverse population. Welcome aboard #BHIM. You will definitely have a good journey with us. 


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