The National Payments Corporation of India (NPCI) has launched BHIM 3.0, the newest version of the Bharat Interface for Money (BHIM) app. The new version includes enhanced features to simplify expense tracking, offer ease of access, and add more security. The rollout is targeted to be fully launched by April 2025.
With BHIM 3.0, consumers can now better track and manage their spending. Split Expenses enables users to divide bills with family and friends. It allows easy division of bills for meals, rent, or shopping. Family Mode also assists with financial management by enabling users to add family members, track shared spending, and share payments with a single overview of family finances.
A new Spends Analytics Dashboard separates expenses by month, with automated transaction categorization so that users can review their spending. This eliminates the need for third-party budgeting applications, making financial management easy.
To enable digital payments for the masses, BHIM 3.0 is now in over 15 Indian languages. It is also built for low or inconsistent internet connectivity zones so that transactions become seamless even in rural locations.
Security features include the Action Needed Assistant, which notifies users of pending payments, reminds them to activate UPI Lite for fast transactions, and notifies them of low Lite balances.
Merchants are being exposed to BHIM Vega, an in-app payment system integrated into the app. This feature enables businesses to process transactions instantly without platform switching, designed to streamline processes and improve customer convenience.
The BHIM 3.0 launch is an important step towards making digital payments more efficient, secure, and convenient for all and businesses across India.