TRENDS Why BHIM App is Bound to Beat and other Mobile Wallets WIth digital payment platforms becoming popular, there is demand for platforms that are clutter-free, secure and most of all, free. BHIM app fits the bill – Adeesh Sharma

he BHIM (Bharat Interface for Money) App is hand, the interface of Paytm wallet and even other a not just another ordinary mobile app but mobile wallets puts too many features in one place and a kind of mobile wallet that does not store the fact they have the ecommerce platform integrated Tmoney on its platform. It links directly to your does not help in locating and understanding internet-enabled bank account and helps transfer their features in one go. This becomes a hurdle in money from one account to the other. It uses the widespread adoption by the masses, especially those Unified Payments Interface (UPI) platform developed who are not too well-versed with smartphones or even by the National Payments Corporation of (NPCI) computing. However, what goes in favour of Paytm is and this gives it the edge to connect 36 nationalised that the app itself looks quite modern and fresh but banks to its platform. looks too focused on youngsters rather than people of all age groups. Simple interface with minimum clutter Since the BHIM app has been promoted by the Govt More secure due to the UPI pin of India, developers of the app have kept only those The BHIM app prompts for a passcode everytime you features that one is ever going to use while making open it. Also, the transactions are secured with a UPI digital payments. You can access all the essential Pin. And since you do not remain signed in you don’t features from the home screen itself. On the other have to bother about losing money in case you lose

12 PCQuest APRIL 2017 pcquest.com .com/pcquest facebook.com/pcquest linkd.in/pcquest [email protected] your phone. On the other hand, you can stay signed can be used within the Paytm network only. The into the Paytm app and require a the Paytm password digital payments apps that we’ve tried so far, all to make transactions through the wallet. That’s one work smoothly, but the transaction speed primarily step less in security as compared to BHIM. So, to depends on your internet speed. ensure additional security you need to keep your smartphone locked. Direct link to your bank account Before transacting through the BHIM app you This is why we like BHIM app more. You do not need need to attach your mobile-banking enabled bank to store money in a proprietary platform such as account. You can only attach one bank account as the one provided by Paytm or other mobile wallets. of now and the details are securely linked at the Your money stays within your bank account and gets backend by using your mobile number as common debited as and when you make a payment. Likewise thread. It contains all the UPI services such as sending you can receive money directly into your bank account and requesting money. NPCI shall also add the and not any third-party mobile wallet. So, practically fingerprint and based payments in BHIM you can transact with users associated with 36 different come April. banks. This is not the case with Paytm and other You can send money using the beneficiary’s virtual mobile wallets where only users attached to Paytm payment address (VPA) such as xyz@upi or mobile or other wallets can transact amongst them. Another number. You can also request money from a person beauty is that currently there are no charges associated who has activated UPI in his account. This option has with sending or receiving payments through the BHIM been specifically designed for people who are short app or for that matter any UPI-based platform. of money at some point in time and thus can borrow from a friend. In conclusion You can also make payments by scanning the Digital payments platforms are growing and are Bharat QR Codes and likewise generate a Bharat bound to gain in popularity in future. What attracts QR code for yourself that others can use to send more people to them is flexibility, free-of-cost trans- payments. These QR codes can be used to across actions, and also security. While we can’t be 100% all UPI apps. Paytm also has the option to scan QR sure of security but other parameters are bound to codes to make payments but then those QR codes propel BHIM ahead of others. pcquest.com twitter.com/pcquest facebook.com/pcquest linkd.in/pcquest [email protected] APRIL 2017 PCQuest 13