The BHIM (Bharat Interface for Money) app has introduced BHIM 3.0, a significant update designed to improve the user experience by offering new features for expense tracking, management, and even shared financial planning. Developed by NPCI BHIM Services Limited (NBSL), a subsidiary of NPCI (National Payments Corporation of India), this upgraded version will be gradually released across various platforms, including Apple's App Store and Google Play Store, with full availability expected by April 2025. Currently, 486 banks are live on the BHIM platform.

 

The new version of BHIM brings a range of features aimed at improving transaction efficiency and user convenience. It will be available in over 15 Indian languages, ensuring broader accessibility. Moreover, the update enhances transaction success rates, particularly in regions with weak or fluctuating internet connectivity.

 

Despite BHIM's relatively low share in the UPI ecosystem—holding just 0.23% of transactions by volume and 0.39% by value as of February 2025—the rollout of BHIM 3.0 is expected to boost adoption and improve its standing against dominant private players like PhonePe, Google Pay, and Paytm.

 

With BHIM 3.0, users can now track, manage, and split expenses seamlessly. A spend analytics dashboard offers insights into monthly expenditures, categorizing transactions automatically. This eliminates the need for manual budgeting with spreadsheets, making personal finance management more intuitive.

 

Additionally, family expense management is now possible, allowing users to onboard family members, track shared spending, and assign payments within the app. This feature provides a comprehensive view of household expenses, enhancing financial planning.

 

A built-in task assistant reminds users to clear pending bills linked to the BHIM app. The update also includes UPI Lite, facilitating low-value transactions. Users will receive real-time alerts when their UPI Lite balance is low, ensuring smooth transactions.

 

Another notable addition is personalized recommendations, offering users custom payment suggestions, banking services, and discounts based on their transaction history. This makes digital payments more intuitive and efficient, particularly for those unfamiliar with online transactions.

 

BHIM 3.0 also brings a major improvement for businesses with the launch of BHIM Vega, an in-app seamless payment solution for merchants. This feature integrates directly with merchant platforms, enabling instant payments without requiring users to switch between multiple apps.

 

By allowing payments to be processed entirely within the seller’s app, BHIM Vega eliminates the friction of redirecting users to third-party apps like Google Pay or PhonePe. As a result, merchants can benefit from lower cart abandonment rates and enhanced customer satisfaction due to the streamlined checkout experience.

 

With UPI Circle functionality, split payments, spend analytics, and seamless merchant integration, BHIM 3.0 aims to elevate its standing in the digital payments ecosystem. This upgrade positions BHIM as a strong contender alongside leading UPI apps, offering users and merchants an improved and more efficient payment experience.