UPI vs BHIM: What is the difference between BHIM and UPI?

It would be surprising to see even teeny weeny shops have QR codes for customer payment. Almost every shop is customer-centric finding out ways to satisfy customers. QR codes have come a long way enabling customers to make quick and secure payments.

BHIM and UPI are payment software NPCI has developed for a seamless, cashless payment experience. BHIM is the Bharat Interface for money and UPI is the Unified Payment Interface. We often think these two terms are the same and use them interchangeably.

What is the UPI App?

It is a digital payment app facilitating money transfers between customers across India. They don’t want the customers to provide bank account details every time they initiate a payment. Instead, monetary transactions are completed using a virtual ID or a UPI ID.

UPI enables you to create one ID for all bank accounts and facilitate payment through any bank account. There are many payment options like scan and pay, pay your contact, and bill payment options. UPI App has brought a sea change as to how the businessmen run the show.

What are the features of the UPI App?

UPI has many positive features like:

It is convenient to use and easy to navigate.
They have enabled convenient monetary transactions because customers can pay from any bank account. They need to use one UPI ID to make payments from any number of bank accounts.
A simple UPI ID relieves you from remembering multiple bank accounts.
Anyone can develop a UPI development App and earn passive money. All you need to know is the business model and strategy for App development. You can convert your skills to develop a UPI earning App.
Round-the-clock transactions: The UPI App enables users to pay 24×7 digitally. There is no restriction like banking hours after which you can’t transact.
UPI allows transparency as they send notifications immediately once you complete a transaction.

What is the BHIM App?

NPCI crafted the BHIM App to enable easy money transfers like the UPI App. UPI is the platform the BHIM interface uses to complete a transaction. The government created the App to assist customers in making digital payments.

What are the key features of the BHIM App?

The key features of the BHIM App are:

It is convenient to use as customers can use this App in different languages.
BHIM App is compatible with Android and Apple mobile phones.
BHIM allows customers to pay with QR codes and mobile numbers. You don’t need to enter bank account details every time you make a payment.
User information is safe as it follows standards set by NPCI.
Different sectors allow customers to use BHIM due to convenience.
BHIM is a UPI-enabled App that encourages payment between individuals.

How safe are UPI and BHIM?

NPCI is a part of RBI that has developed these Apps. Even though they get access to customers’ sensitive information, they are safe to use. These are created and supported by the government of India. However, one has to use prudence when handling these Apps.

Final words: BHIM is a payment App and UPI is an infrastructure that enables a transaction. The government of India supports these apps and is safe to use. They allow users to make cashless payments even in tiny shops in our country.