BHIM UPI apps being launched by NPCI which will let users transfer money to anyone with a UPI-enabled bank account, or even a regular bank account through IFSC code. This is android or iOS (coming soon) based mobile application for banking transaction. After the launch of BHIM Apps, it is asked by user whether transaction through BHIM apps safer ?
How To Use Syndicate Bank *99*55# USSD For Fund Transfer ?
Key Highlights :
NPCI (National Payment Corporation of India) has confirmed that the BHIM apps is much secured application and encryption of BHIM is in line with application used by Google wallet and Apple Pay.
How To Use BHIM Apps for Fund Transfer ?
The various secured features of BHIM Apps are :
There is three factor authentication being used to secure the transaction made through BHIM apps. The three factor security features comprises of
- The three levels of authentication that are required in this app which are device ID and mobile number, bank account which you are linking to this app, and the finally the UPI Pin which is needed to complete the transaction. Most of the debit card or credit card or Internet Banking are using two factors of authentication.
- There is no issue of security threat if phone gets stolen.Nobody can transact, until they know your UPI pin.
- Government authenticated app to carry out payments, without always having to rely on third party players.
- Encryption for BHIM is in line with Google Wallet or Apple Pay .
- This application is worked on NPCI – UPI’s common library. NPCI had made a UPI library which it shared with all banks with net banking.
