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In an interview with news18.com, Lalitha Nataraj, CEO of NPCI BHIM Services Limited (NBSL), discussed digital payments in India along with the platform’s long-term goals and strategies.
Lalitha Nataraj, CEO of NPCI BHIM Services Limited (NBSL).
As India’s digital payment system Unified Payment Interface is gaining more and more traction with increased digital payments in India, many foreign countries like Singapore, France, Sri Lanka, and UAE have also facilitated it allowing Indians seamless transactions there. In an interview with news18.com, Lalitha Nataraj, CEO of NPCI BHIM Services Limited (NBSL), discussed digital payments in India along with digital payments platform BHIM’s long-term goals and strategies. Edited excerpts:
NBSL (BHIM) was recently incorporated as a subsidiary of NPCI, how do you see its role evolving within India’s diverse digital payments landscape?
Incorporating NPCI BHIM Services Limited (NBSL) as a subsidiary is a strategic step to sharpen BHIM’s focus and address the unique challenges of India’s diverse digital payments ecosystem. This move aims to make BHIM more agile in innovating, expanding its user base, and deepening financial inclusion. NBSL will concentrate on scaling UPI adoption across segments. It will also take initiatives to reach out to underserved segments. As a first step, the platform will be enhancing the app’s usability and introducing features tailored to the needs of urban, rural and semi-urban users.
It will prioritise partnerships with banks and fintechs to expand merchant acceptance and deliver a robust, interoperable payment experience. To achieve this, NBSL is building a strong team of individuals from diverse business and technology backgrounds, ensuring they keep pace with innovation and rapidly shifting customer preferences. NBSL’s role will evolve to position BHIM as a trusted, inclusive, and innovative leader, ensuring its relevance in a rapidly growing and competitive digital payments landscape.
What are your key short-term and long-term goals for BHIM?
BHIM’s roadmap is ambitious and grounded in its commitment to driving adoption. In the short term, the focus is on enhancing the app’s security, technical resilience, and user interface to deliver a personalised, seamless experience. Increasing awareness about BHIM is also a priority, aiming to expand its user base and improve adoption. Over the long term, BHIM will establish itself as the preferred payment app in India by continually innovating and building trust among its users. Additionally, the platform is committed to sustainable growth by promoting a less-cash economy, reducing dependency on physical cash, and minimising the environmental impact of transactions.
How does BHIM plan to differentiate itself in a market, while still driving innovation?
BHIM’s differentiation lies in its trustworthiness, simplicity, and intuitive user experience. It will introduce more user-friendly features to the market with innovations designed to overcome digital literacy barriers. For example, the recently launched feature, UPI Lite for small-value transactions, has promoted inclusive growth. By combining simplicity with innovation, BHIM drives a dual agenda of inclusion and cutting-edge solutions to support the Digital India mission.
How important is collaboration with banks and payment partners to BHIM’s growth strategy?
Collaboration with banks and payment partners is central to BHIM’s growth strategy. By working closely with banks and fintechs, the platform will continue to introduce new features, enhance interoperability, and build an inclusive digital ecosystem. Additionally, banks and fintechs provide crucial insights that drive BHIM’s innovation and improve its user experience. These collaborative efforts strengthen BHIM’s position in the market and ensure the growth of India’s broader digital payments economy.
How is NBSL reinventing the BHIM app? Can you share some insights on any major enhancements to the user experience?
BHIM being a user facing app, will have to be reinvented constantly to meet India’s changing economic needs and preferences. Our main objective is ensuring the app is intuitive, visually appealing, user friendly and accessible to users across demographics.
How can customers tackle digital payment frauds, and what steps is BHIM taking to prevent it?
Customers can minimise risks by following safe practices such as avoiding sharing credentials, verifying payment requests, and transacting only through secure platforms. On its part, BHIM ensures security through multi-layered authentication and fraud detection systems. Additionally, it also conducts awareness campaigns to educate users about safe digital transaction practices and fraud identification. By combining robust technology with proactive education, BHIM builds user trust and ensures a secure environment for digital payments.
