New Delhi: NPCI BHIM Services Limited, a wholly owned subsidiary of the National Payments Corporation of India (NPCI), has launched Bharat Interface for Money (BHIM) 3.0, introducing new features aimed at enhancing the digital payments experience for users, businesses and banks.
BHIM 3.0 represents the third major update since its initial launch in 2016 by Prime Minister Narendra Modi. The new version is designed to offer a more user-friendly and accessible digital payment experience, expanding its reach with support for over 15 Indian languages and improved functionality in low-internet conditions.
The new features include:
- Users can now easily divide bills among friends and family, making group payments more seamless.
- The Family Mode enables users to onboard family members, track shared expenses, and assign payments for better financial management.
- Spends Analytics, a dashboard that categorizes monthly expenses, helps users track and manage their budgets effectively.
- A built-in task manager that reminds users of pending bills, prompts them to enable UPI Lite, and alerts them when their Lite balance is low.
The launch event was led by Vivek Deep, Executive Director of the Reserve Bank of India (RBI), in the presence of NPCI’s Non-Executive Chairman and Independent Director, Ajay Kumar Choudhary, along with senior representatives from the banking and fintech sectors.
Ajay Kumar Choudhary stated:
“BHIM has been instrumental in making digital payments secure and simple for every Indian. BHIM 3.0 is another step towards empowering millions of users, merchants, and banks, supporting India’s digital transformation.”
For businesses, BHIM 3.0 introduces BHIM Vega, an integrated in-app payment solution that allows seamless transactions within merchant platforms, eliminating the need to switch to third-party payment apps.
According to NBSL CEO Ms. Lalitha Nataraj:
“BHIM 3.0 is designed to cater to the evolving needs of digital payment users, prioritizing safety, convenience, and inclusion. This update strengthens financial empowerment across all sections of society.”
The phased rollout of BHIM 3.0 will continue across various platforms, with full availability expected by April 2025.
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