The app started offering cash backs from early last year which is considered to be one of the drivers behind the growth, which was albeit on a low base.
“The strong growth in Payments App reflects the increasing trust that users across India are placing in a payments platform that is simple, secure and built for the masses,” NBSL managing director .
The app has about 1% market share among payment servive providers through (UPI).
NPCI BHIM, the wholly-owned subsidiary of NPCI, is partnering with banks to distribute to raise its stake with customers. It is also in talks with a couple of banks in both public sector and private sector domain to embed BHIM’s technology into bank to help deepen the . has already unveiled such a white-label embedded system, Nataraj said.
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She said the company is planning to expand the BHIM app’s reach to feature phones and the groundwaork towards this end has began.
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