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Big improvements in BHIM App to compete with private payment apps

Wednesday - October 23, 2019 4:26 pm , Category : BUSINESS
The new version of BHIM App has more features than before
The new version of BHIM App has more features than before

Know the new features of the new version of BHIM App

OCT 23 (WTN) - If you use the BHIM App for digital transactions, then you should update it as soon as possible. This is why because the Central Government has launched BHIM 2.0, a new version of the BHIM App. The new version of the BHIM App has a lot of features. Let us explain in detail what are these new features?

First of all, for your information, let us know that under the Digital India Mission, Prime Minister Narendra Modi launched the BHIM app on 30 December 2016 to reduce cash transactions and promote digital transactions. At the time of launching of BHIM App, Prime Minister Modi said, "At this time business is done through cash, but one day it will come that all business transactions will be done through BHIM App."

Since the launching of the BHIM App, crores of people have downloaded BHIM App and using it. For your information, let us know that at present there are 119 banks connected in the BHIM app. On the other hand, online shopping, tours, and traverse, entertainment, telecom, utilities, NBFCs, retail outlets, insurance, and mutual funds, logistics, food, and websites, recharge, DTH, and education-related companies and institutions are associated with the BHIM app.

Although BHIM App has been very popular among the users, due to the app of private payments companies, BHIM App was facing competition, because private payment companies were offering different types of discounts. Due to this, the government has now launched a new version of the BHIM app, which has more features than before.

In a statement issued by the Ministry of Information Technology, it has been said that in BHIM 2.0, many features have been given to the users, including increasing the transaction limit with additional languages. For your information, let us know that BHIM App is a UPI (Unified Payments Interface) based payment platform developed by the National Payments Corporation of India (NPCI).

To make the new version of the BHIM App even more useful and effective, many new features have been added to it. The new updated BHIM App version will support three additional languages Konkani, Bhojpuri, and Haryanvi also in addition to the existing available languages. The BHIM app currently has existing languages; Hindi, English, Tamil, Telugu, Malayalam, Bengali, Oriya, Kannada, Gujarati, Marathi, and Assamese.

In the new version of the BHIM App, now the transaction limit has been increased. At the same time, now many bank accounts can be added to it simultaneously. Now through the BHIM app, merchants or shopkeepers will also be able to offer new offers on their behalf. In the new version of the BHIM App, the option of applying for IPO has also given. Not only this; in the new BHIM app version, now users will be able to gift money easily. A donation gateway has also been added to the new version of the BHIM App. By using this feature, users will also be able to donate through the BHIM app.

In order to increase the popularity of the BHIM App and to make maximum use of it, MDR charges on transactions up to Rs 100 from the BHIM App have been withdrawn from October 1. It is being said that this step of the government will help the retailers. For your information, let us know that through the BHIM App, the transaction discount rate was charged 0.25 per cent on the first transaction of Rs 2,000 and 0.65 per cent on transactions above Rs 2,000. But now transactions up to Rs 100 have been exempted from all types of charges. Not only this, the limit of payment in the shop has been increased from twenty thousand rupees to one lakh rupees through the BHIM app.