BHIM SBI Pay: Wondering what is BHIM SBI pay and what are its benefits for you? Bhim SBI Pay is State Bank of India (SBI) UPI App. It is a payment solution that allows account holders of all banks participating in UPI scheme to send money, receive money and do online bill payments, recharges, shopping, etc using their smartphones.
What are the advantages of BHIM SBI Pay over others?
The bank claims that the BHIM SBI Pay or the UPI App of SBI provides the users, flexibility of making payments at their convenience 24X7 on all 365 days of the year. The user can transfer funds using his BHIM SBI Pay app to his friend/relative by knowing only their Virtual Payment Address (VPA).
The receiver of the money need not disclose his account number, IFSC code or any other such Banking details. One can also do online bill payments, recharges and shopping, etc using their smartphones.
The user has the flexibility to use more than one UPI application on the same mobile device and can also link the same as well as different accounts in both the UPI apps.
BHIM SBI Pay is available on Android and iOS phones. No, you cannot link a mobile wallet to BHIM SBI Pay/UPI. Only bank accounts can be added.
However, you cannot link a mobile wallet to BHIM SBI Pay/UPI. Only bank accounts can be added to it.
How is UPI different from the Immediate Payment Service (IMPS)?
— IMPS facilitates the transfer of money from Sender to Receiver and the transaction is initiated by the Sender while UPI facilitates the transfer of money using both Push & Pull mechanism where the transaction can be initiated by Sender as well as Receiver.
— Multiple Banks account can be linked to a Single APP for money transfer.
— Secured by single-click two-factor authentication.