It is a matter of pride for Indians when the e-wallet, Bharat interface for money (BHIM) App was launched on Friday by the PM, Narendra Modi. During the launch, PM stated that this is one of the important initiatives to pave path towards digital economy for Indians.
I downloaded the App today from Google play store and tried my hands on it. First things I noticed during the download was the number of downloads, 1 million downloads and average users’ rating of 4 star, rated by 128,645 users. It feels great to see a great positive leap towards digital India.
BHIM allows hassle free payments using smartphone without needing to type CC details, wallet password or net banking details and uses Unified Payment interface (UPI) for the payment process.
What I found out after using it was, it is not exactly a mobile wallet. It connects directly your bank accounts with the help of phone number registered for your bank account with the help of Unified Payments Interface (UPI).
Even though I read a few reviews online stating that it is messy and not much user friendly, I actually liked using it. I found it very simple and every step was self-explicable. I was trying to use it both as a general user and as a Product Manager.
Download was pretty fast and it consumes 9.82 MB space of the system. I am using one plus 3T with 6GB RAM and downloaded in a pretty fast Wi-Fi environment. Set up is pretty simple. As soon as the app is opened, user is asked to set up a pass-code which acts as a security to access the app. I am using a dual sim mobile and was asked to select the correct sim for verification. Make sure you select the one which is registered as your phone banking number. The App verifies the number automatically. You don’t need to enter OTP or anything for verification.
After the verification process, it lists down total of 31 banks which supports UPI. After you select your bank you will be directed to a page where you see 3 options, Send, Receive and Scan & Pay for sending money, receiving money and transfer money using QR code scanning process respectively. Each phone number is assigned with a QR code which you can access under profile section.
A few negative points or can be added as enhanced features according to me are:
i. Currently, it is available for android users not for IOS users. I am guessing maybe, considering the huge number of android Users in India they might have planned to first release for Android followed by IOS. I didn’t try it but I am not sure how to transfer money to an Iphone user.
ii. I didn’t understand what UPI was. Neither did I get any guide in the App about it. After much googling and trying out, I figured it out that I have to use “Reset UPI Pin” option in my bank account and create one for which you will need the last six digits of your debit card and the expiry date.
iii. I feel multiple bank selection option can be added to the App. At once I can only select and transact using a single bank account. If you need to change to different Bank account you need to click on “Bank Account” then click on “List” icon in the right hand corner which will give you an option to change bank account. This is also not clearly guided in the App. I had to figure it out how to change my bank account.
Overall, I am happy and proud about the launch and performance of BHIM app. Slowly and steadily but definitely India is moving towards a digital and smart economy.