BHIM APP - Can it suppress PayTM and Freecharge?

About BHIM AppThe neat, clean and simple interface of the app is a welcome departure from other apps from the government. This is in tune with its stated purpose of simplified payments.

How to Use the BHIM appTo make use of BHIM app you will need to have an account with any of the 32 banks that have joined UPi (list of banks at the end of the post). The app is currently available only in English and Hindi. Given the wide diversity of languages in India, more languages are expected to be added soon. Also the phone number you use for the app needs to be associated with your bank account. At the moment it allows only one phone number and bank account to be linked with the app at a time. However, there exists an option to change accounts.

Unlike many other apps BHIM doesn't need a plethora of permissions from the user. It asks for access to SMS (to verify mobile number) and to make and manage phone calls (they say they need it to verify your phone with UPI). And in case you want to scan a QR code, it will ask for an additional permission to access the camera. Unlike many other apps, this app doesn't fetch a verification code from an incoming SMS, but instead sends out an SMS for phone number verification.

ReviewThere is much reason to feel optimistic about the BHIM app launched yesterday. As soon as I came to know about it, I downloaded it and tried to register my mobile number and bank account. There were some errors at first while registering the bank account, but after 3–4 times, I was successful. It may be due to the server overload produced due to many registrations at a time. Other than being impressed by its simplistic interface, I was amazed how the Indian government has designed such a user friendly app. This is the same reason why Whatsapp has become the most popular messaging platform. BHIM app can surely become the app for the masses (even the people who are less inclined towards technology).

Here are a few reasons which can make you use the BHIM app instead of PayTM, Freecharge and others :-

1. While BHIM has all the benefits provided by other mobile wallets, the one big advantage is that the transactions happen directly from the bank accounts and there are no charges associated with transfers.
2. The transaction limits (maximum of Rs 10,000 per transaction and Rs 20,000 within 24 hours) are more flexible than that for the other apps.
3. It is government backed and the money is transferred directly from bank account to bank account without an intermediary.

However, BHIM app mostly won’t provide the cashbacks that the other wallet providers offer.These are early days for the app and more features and improvements are expected soon.