BHIM to join e-commerce, competing with PhonePe and Google Pay
By MYBRANDBOOK
The government-supported payment software BHIM is getting ready to join the e-commerce space in an effort to disrupt PhonePe and Google Pay's monopoly on the digital payment sector. With the use of the ONDC platform created by NPCI, BHIM intends to expand the range of products it offers to include groceries, clothing, cuisine, and more. To strengthen its position in the market, NPCI named Rahul Handa as BHIM's Chief Commercial Officer.
BHIM plans to launch this initiative through a separate division, aiming to increase its user base. The strategy includes offering many products and services such as food and beverages, fashion items, groceries, and apparel. This move comes at a time when BHIM downloads are increasing due to regulatory restrictions on Paytm, another key player in the sector.
Since its inception in 2016, BHIM has struggled to gain traction because of limited marketing resources and low consumer awareness. To address this, NPCI is set to launch the BHIM 2.0 project, aimed at enhancing user experience and promoting adoption through strategic alliances like ONDC. However, industry experts warn that relying solely on ONDC may not be sufficient to change established consumer habits and preferences.
In an attempt to reduce the risks associated with over-dependence on dominant players like Google Pay and PhonePe, NPCI is encouraging investment in new third-party payment apps on the Unified Payments Interface (UPI).
This diversification strategy aims to decrease the high transaction concentration on these platforms.
Google promotes Sanjay Gupta as APAC President
Sanjay Gupta, who is the present Country Manager - India for Google has be...
Supreme Court verdicts against NEET Re-Examination
The Supreme Court declared that there will be no retest for the NEET-UG e...
Government brings in three employment-linked incentive program
The Finance Minister unveiled three new incentive programs in the Union ...
Amazon may soon launch new AI-powered Alexa
Amazon has been previewing an all-new Alexa which will be based on a new l...
Icons Of India : Anil Kumar Lahoti
Anil Kumar Lahoti, Chairman, Telecom Regulatory Authority of India (TR...
Icons Of India : MADHABI PURI BUCH
Madhabi Puri Buch is the first-female chairperson of India’s markets...
Icons Of India : Deepak Sharma
Deepak Sharma spearheads Schneider Electric India. He brings with him ...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
ECIL - Electronics Corporation of India Limited
ECIL is distinguished by its diverse technological capabilities and it...
Indian Tech Talent Excelling The Tech World - George Kurian, CEO, Netapp
George Kurian, the CEO of global data storage and management services ...
Indian Tech Talent Excelling The Tech World - Sanjay Mehrotra, CEO- Micron Technology
Sanjay Mehrotra, the President and CEO of Micron Technology, is at the...
Indian Tech Talent Excelling The Tech World - Aman Bhutani, CEO, GoDaddy
Aman Bhutani, the self-taught techie and CEO of GoDaddy, oversees a co...