BHIM

byPaytm Editorial TeamLast Updated: July 11, 2025

Introduction

BHIM is a government-developed UPI mobile application that enables fast, easy, and secure digital payments directly from bank accounts.

Definition

The full form of BHIM is Bharat Interface for Money. It is a UPI-based app launched by NPCI (National Payments Corporation of India) to promote cashless transactions.

How It Works

BHIM links your bank account to your mobile number and lets you send or receive money using UPI ID, QR code, or phone number. It works 24/7 across all banks and supports checking balances, setting UPI PIN, and managing beneficiaries.

Benefits

  • Simple and user-friendly interface
  • Backed by the Government of India
  • Works across all UPI-enabled banks
  • Secure and free for all users

You May Also Like

COGS: Cost of goods soldLast Updated: October 14, 2024

What is Cost of Goods Sold? Cost of goods sold or COGS refers to the direct cost that…

Cyber InsuranceLast Updated: December 12, 2025

Meaning Cyber Insurance protects individuals or businesses from financial losses due to cyberattacks. Definition It covers risks like…

Financial InclusionNovember 5, 2025

Meaning Financial Inclusion ensures everyone has access to useful and affordable financial products and services.Core Definition It is…

ECS (Electronic Clearing System)Last Updated: October 21, 2025

Definition ECS stands for Electronic Clearing System.  ECS, or Electronic Clearing System, is a digital method to transfer…

Form 26ASNovember 7, 2025

Meaning This statement provides a summary of taxes paid and collected on your behalf. Definition The **Full form**…

Income Tax ActNovember 10, 2025

Meaning and Purpose This essential legislation governs direct taxes on income. Its primary aim is to fund public…