Eyeing a doubling of its market share to around 2 per cent, NPCI Bhim Services Ltd, the wholly-owned subsidiary of NPCI, is working to expand the Bhim app’s reach to feature phones as part of a broader strategy to deepen financial inclusion and diversify revenue through financial product distribution, its top executive said.

It is a move to transition from a “reference app” to a major market competitor, said its MD and CEO, Lalitha Nataraj, on Wednesday.

Nataraj outlined a roadmap that includes partnering with banks to distribute financial products and embedding Bhim’s technology into bank mobile applications through a white-labelling strategy.

The app recorded 301 per cent growth in total transaction volumes in FY26 compared with FY25, with monthly volumes rising from 5.93 crore in April 2025 to 21.6 crore in March 2026.

As of May 2026, BHIM has around 1.2 crore monthly active transacting users and 1.6 crore monthly login users.

Cashback incentives introduced in January 2025 have also been a driver, with the app posting 300 per cent annual growth in FY26.

Eurobank UPI service

Eurobank has started a UPI-based remittance service from Greece for Indian customers, promising near-instant transfer of money at minimum costs, a senior bank executive said on Wednesday.

The service, which was launched last Monday, enables Indian customers banking with Eurobank in Greece to transfer money to India through UPI-linked systems.