BHIM (Bharat Interface for Money) app was launched last week in India. This app is named after Bhim Rao Ambedkar, this app is currently available in just Hindi and English, while the app will later be available in other regional languages. Users can register their bank account and set a UPI PIN for the account.
The most interesting thing about this app is that it supports all the major banks in India such as State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, Bank of India, Canara Bank, Kotak Mahindra Bank, Oriental Bank of Commerce, Punjab National Bank and much more.
Moreover, your registered mobile number will become the payment address when you transact through BHIM app. Apart from this, the users only require the mobile number of the second entity to whom the money is to be transferred.
There is a Rs. 10,000 per transaction limit and Rs. 20,000 per day for BHIM. For larger transactions, you will still have to use a credit or debit card, or IFSC or another form of net banking. It is currently available only on Android and will launch for iOS soon.