BHIM 3.0 Launched: Family Mode, Vega and Vishwas
Why in the news
BHIM will remain India’s sandbox for digital payment innovation, and its 3.0 version arrived as UPI use cases keep growing.
Key facts
- NBSL (NPCI BHIM Services) is the wholly owned subsidiary of NPCI behind the launch.
- Rollout is phased; full implementation is due by April 2025.
- BHIM will nurture products and help the industry adopt features through collaborative innovation.
BHIM 3.0 and related products
| Item | What it does |
|---|---|
| Family Mode | Manage payments across several users |
| Low-internet capability | Works better in weak-connectivity areas |
| Cashbacks | Incentives for UPI transactions via BHIM |
| BHIM Vega | In-app payment solution for online merchants; real-time payment without switching apps |
| BHIM Vishwas (proof of concept) | White-labels BHIM’s technology stack for banks’ mobile apps |
Market metrics
- BHIM has 226 million Android and 8.8 million iOS installs (NPCI data).
- UPI users number 300-400 million, leaving over 900 million potential users untapped.
Exam angle
- BHIM = Bharat Interface for Money.
- Parent body: NPCI; subsidiary: NBSL.
- BHIM Vega is for merchants; Vishwas is for banks.