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BHIM app: All about going Cashless

The BHIM app was developed by NPCI on 30th December 2016 and later launched by PM Narendra Modi.

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BHIM app works across all bank accounts. Wikimedia commons
BHIM app works across all bank accounts. Wikimedia commons
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The act of demonetization by the government last year had simply made us stand on our heels. People were fighting their way out in the absence of hard cash and thus made us oblige to the digital platform.

BHIM app is one of the various digital money transfer app (application) which uses UPI (Unified Payments Interface). The app was developed by NPCI on 30th December 2016 and later launched by PM Narendra Modi. It aims towards bringing Financial inclusion and making us a digitally empowered society.

BHIM app is backed by the Government of India making it a more reliable cashless payment option (unlike PayTM). Pixabay
BHIM app is backed by the Government of India making it a more reliable cashless payment option (unlike PayTM). Pixabay

Here, we will help you to walk through the procedure involved in the better use of BHIM app.

How to download BHIM app

  • You can download and install BHIM from Google play store for Android and Apple store for IOS.
  • Select whichever language you prefer.
  • Select the mobile number which is registered with your bank.
  • Set a 4 digit password to log in.
  • Link a bank account.
  • Now, you need to set a UPI pin by providing the expiry date and last six digits of your debit card.
  • Your account is now registered and you are ready to go cashless.How to use BHIM without internet
  • You can dial *99# from your phone and you will be able to avail the same features of BHIM on your mobile.
  • *99# can also be used to register for BHIM.
BHIM app has three level authentication including device ID or mobile number, bank account and UPI pin, which makes it the most secure option. Pixabay
BHIM app has three level authentication including device ID or mobile number, bank account and UPI pin, which makes it the most secure option. Pixabay

Features of BHIM app

Send Money
With this feature, you can send money by scanning a QR code, combination of Account Number and IFSC by using Virtual Payment Address (VPA).

Request Money
This feature allows you to send a collect request by entering VPA. Also, through BHIM, you can transfer money using a Mobile that is registered with BHIM or *99#.

Scan and Pay
This feature allows you to pay by scanning the QR code.

Transactions
This one will show your transaction history. It shows pending UPI collection request, so you can approve or reject payments. Also, there is an option to report if a user wants to raise any complaint.

Profile
This option will help you to view the static QR code and Payment addresses that are created. The QR can be downloaded and also be shared through WhatsApp or Email.

Bank Account
This feature enables you to check the bank account (which is linked to BHIM). You can set or change your UPI pin or the bank account linked with BHIM App by clicking on ‘Change Account’. You can also check your account balance using this feature.

BHIM is not a wallet. It is a payments application which allows users to make instant bank transfers. Pixabay

Why should you use the BHIM app?

  • It works across all bank accounts.
  • You can access it without internet.
  • BHIM is backed by the Government of India making it a more reliable cashless payment option (unlike PayTM).
  • It has three level authentication including device ID or mobile number, bank account and UPI pin, which makes it the most secure option.
  • All in all, BHIM has turned out to be the safest and most reliable cashless payment option against competitors like Paytm.
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Copyright 2018 NewsGram

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iPhone X gets 35% of total handset industry profits in Q4 2017

Apple and Samsung flagship models lead in terms of profits as compared to other OEMs

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Apple got lukewarm response for iPhone X. Pixabay
Apple suffers great loss. Pixabay

As global handset profits dipped 1 per cent (year-on-year) in the fourth quarter of 2017, Apple X alone generated 35 per cent of the total handset industry profits, helping the iPhone maker grow 1 per cent (YoY) in the same quarter, a new report said on Tuesday.

According to the latest research from Counterpoint’s Q4 2017, the premium smartphone market did not grow as expected while Apple remained the most profitable brand, capturing 86 per cent of the total handset market profits.

Apple is also working on the new iPhone. IANS

“Apple grew 1 per cent (YoY) even with the iPhone X being available for only two months in Q4 2017. The iPhone X alone generated 21 per cent of total industry revenue and 35 per cent of total industry profits during the quarter,” Research Analyst Karn Chauhan said in a statement.

“The share of iPhone X is likely to grow as it advances further into its life-cycle. Additionally, the longer shelf life of all iPhones ensured that Apple still has eight out of top 10 smartphones, including its three-year-old models, generating the most profits compared to current competing smartphones from other OEMs,” Chauhan informed.

The global smartphone market has already reached its peak with longer replacement cycles and key smartphone OEMs are now under pressure to book profits. “Chinese OEMs cumulative profits crossed $1.3 billion during Q4 2017. This was driven by the increased mix of mid to high-end smartphones. In fact, the average selling price (ASP) of their flagship devices also increased YoY,” added Associate Director Tarun Pathak.

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Key Chinese players like Huawei, OPPO and Vivo are now looking to scale up the price band, by leveraging their inhouse manufacturing capabilities and bringing innovation to their devices, he added. iPhone X generated 5 times more profits than the combined profits of over 600 Android OEMs during Q4 2017.

Apple and Samsung flagship models lead in terms of profits as compared to other OEMs. Huawei was the leading brand among all the Chinese brands, with profit increasing 59 per cent (YoY). “With an increased mix of flagship sales for key Chinese brands, we expect profit share of Chinese players to grow in the coming quarters,” the report added. IANS