BHIM 3.0 Launched with Expense Tracking and Sharing Features

Why in the News ?

NPCI BHIM Services Ltd. (NBSL) launched BHIM 3.0 with enhanced features, including bill splitting, family expense tracking, and assigned payments. The rollout will be phased, with full availability expected by April 2025, improving digital payment convenience and security.

BHIM 3.0 Launched with Expense Tracking and Sharing Features

New Features and Enhancements:

  • NPCI BHIM Services Ltd. (NBSL), a subsidiary of NPCI, launched BHIM 3.0 with improved features for users, businesses, and banks.
  • The rollout will happen in phases, with full availability expected by April 2025.
  • The updated app focuses on safety, convenience, and inclusion, catering to India’s digital payment needs.

Expense Sharing and Tracking

  • Users can now split bills seamlessly with friends and family for dining, rent, and group purchases.
  • The app allows onboarding of family members, making expense tracking and payment assignments
  • This feature provides a consolidated view of expenses, enhancing financial planning.

Impact on Digital Payments

  • BHIM 3.0 aims to enhance user experience in India’s rapidly evolving digital payments landscape.
  • The new offerings benefit businesses and banks by simplifying transactions.
  • The NBSL CEO, Lalitha Nataraj, highlighted the app’s commitment to secure and efficient transactions for users.