Following the devaluation, India’s payment service steadily shifted away from currency and toward paperless solutions. The national payment platform is among the most widely used banking methods in use today. One can collect funds, transmit and receive money, send invoices, and so much more through them. Today, these financial tools are used for payments by billions of Indians. One such software created by the Federal Finance Commission of India is the BHIM Application. 

Let’s examine how to make use of the platform for all of your payment requirements.

BHIM platform

The National Transactions Commission of India created this billing software to encourage electronic payments using the UPI transaction system. Both an iOS and an Android application are provided for it. It is suitable for all UPI-related tasks like sending and receiving money, bill payments, and more.

It is a payment mechanism that enables mobile phone-based cash transfers between any two bank profiles. With UPI, a consumer can pay various retailers straight from their bank account, both physical and virtual, without having to type in their net banking credentials or their credit card information.

Installation and sign-up

The Software is simple to download and set up on your cellphone. You can do this by taking the following actions:

Step 1 

Download the application from the play store or app-store. Its logo consists of two triangular shapes; orange and green. 

Step 2

Launch the application after installation. By altering your profile photo and personal information, create a legitimate profile. Include your preferred language as well. Insert the phone number connected to your bank account. The app will request that you verify the information by sending a code to your phone once you enter your phone number. Use the URL or code that was supplied to you to verify the account.

Step 3

Once the verification process has started, click enter or next. The application will validate the accuracy of the supplied data. The verification procedure may be terminated in the event of incorrect information or a sluggish internet connection.

Step 4

Upon successful completion of the verification, you must enter the four-digit passcode. Verify that the key isn’t connected to your bank information or utilized in any other applications. Do not divulge this key to anybody else and keep it safe.

Step 5

The procedure of creating a basic profile is done after creating a password. Choose your bank by going to Dropbox. Enter the necessary data. With the help of your phone number, the app will gather all pertinent information. Choose the main bank account that will be utilized for electronic transactions after that. Your account is now prepared for bills and payments.

Step 6

Now, you can click any of the current alternatives to make a request or make a payment. Keep in mind that only phone numbers that have been confirmed can conduct operations. You can transfer money to someone by entering their bank account or phone number. 

Step 7

When you input your MPIN, the application will verify the payment and send your funds. Similarly, you can ask someone else for payment. You can use the platform to detect and pay as well.

Uses of BHIM 

After installation, you can employ your BHIM application to complete your UPI payments in the following manner:

Send cash 

Open the BHIM UPI application, then choose the “Pay” button from the interface to initiate a BHIM transaction. You can input a UPI Number to wire funds to or look for a contact on your smartphone on the next webpage. Specify the sum, then continue. When you provide your UPI PIN, the beneficiary’s wallet that is linked to their UPI ID will be paid and your fund will be deducted from the sum.

Demand money 

When using the BHIM UPI program, you may also make a cash request by inputting the UPI Identification of the individual from whom you anticipate compensation. On the Portal, select “Request Money,” then enter the Online Account and the requested sum. On their platform, the affected individual would get an alert asking them to pay the bill.

Send money through a QR code scan 

Additionally, you can utilize the BHIM UPI to transact with QR codes at merchant locations. The QR code reader will open when you select the ‘Scan’ tab on the panel. You can settle by inputting the amount after scanning the code.