NPCI BHIM Services Limited (NBSL), a subsidiary of the National Payments Corporation of India (NPCI), has launched Bharat Interface for Money (BHIM) 3.0. The new version aims to improve the digital payment experience with enhanced features for users, businesses, and banks. BHIM 3.0 will be rolled out in phases, with full availability expected by April 2025.
BHIM, first introduced in 2016, has played a key role in driving digital payments across India. The latest version, BHIM 3.0, introduces new features designed to enhance convenience, accessibility, and financial management. The app now supports over 15 Indian languages, ensuring a wider reach. Additionally, it has been optimized to function smoothly in areas with slow or unstable internet connectivity, making transactions more reliable in remote locations.
Vivek Deep, Executive Director, Reserve Bank of India (RBI) launched the application and services in the presence of Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, NPCI and senior leaders from the banking and fintech industry.
Enhanced Features for Users
Split Expenses: Users can now divide bills among friends and family, simplifying group payments for dining, rent, and shared purchases.
Family Mode: This feature allows users to add family members, track shared expenses, and assign payments, offering better financial planning.
Spends Analytics: A new dashboard provides insights into monthly spending, automatically categorizing expenses to help users manage their budgets effectively.
Action Needed: A built-in task assistant reminds users about pending bills, prompts them to enable UPI Lite, and alerts them when their Lite balance is low.
New Offerings for Merchants
To support businesses, BHIM 3.0 introduces BHIM Vega, an integrated in-app payment solution that allows merchants to accept payments instantly without requiring users to switch to third-party apps. This feature aims to provide a smoother checkout experience for customers.
