The Reserve Bank of India’s (RBI) Executive Director Vivek Deep on March 25 said that the newly launched Bharat Interface for Money (BHIM) 3.0 will focus on monitoring customer satisfaction and ensure there is suitable address mechanism to retain customers on the application.
Deep was speaking at the launch event of Bharat Interface for Money (BHIM) 3.0.
“Efforts should continue to be focused on monitoring customer satisfaction and ensuring that suitable address mechanism is available to those who are already onboarded so that they do not move away to other places,” Deep said while addressing at the event.
Deep also said that while customer acquisition is a challenge, maintaining or sustaining those customers is a far greater challenge.
(BHIM) 3.0 will continue to focus on private inclusion and remain aligned with evolving UPI innovations to enhance consumer benefits. It will also adopt a collaborative approach working closely with banks to provide various B2B payment solutions which has been a relatively less focused area so far, he added.
“Banks are encouraged to integrate these solutions as per their requirements to strengthen payment offerings for both merchants and customers,” Deep added.
The newly launched app have some enhanced user features such as users can now split bills with friends and family, onboard family members, track shared expenses, and assign specific payments, and A built-in task assistant that reminds users of pending bills linked to the BHIM app.
For the merchants, there is a seamless in-app payment solution for merchants. This feature integrates with online merchant platforms, allowing customers to complete payments instantly within the app without switching to third-party apps, company said in a release on March 25.
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