Changes in UPI from August 1: Here's what every user needs to know
Credit: X/@UPI_NPCI
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Business Standard
2 minutes ago
- Business Standard
Fintech firm BharatPe clocks Rs 6 crore in profitability in FY25
Fintech firm BharatPe clocked profitability as it posted Rs 6 crore in adjusted profit before tax in financial year 2024–25 (FY25), compared to a loss of Rs 342 crore in FY24. The company reported an operating revenue of Rs 1,667 crore in FY25, a 16.9 per cent increase from Rs 1,426 crore it generated in FY24. The Delhi-based company said its EBITDA (earnings before interest, taxes, depreciation, and amortisation), excluding ESOP (employee stock options) expense, grew to a Rs 141 crore profit in FY25, compared to an EBITDA loss of Rs 209 crore in FY24. The company's UPI offline transactions have grown by 26 per cent. It added that it has grown its stake in non-banking financial company (NBFC) arm Trillionloans to 74 per cent in order to take complete ownership of the entity. Its two new verticals—UPI TPAP (BharatPe app) and Invest BharatPe—are being built to scale, it said. In April this year, it received the final authorisation from the Reserve Bank of India (RBI) to operate as an online payment aggregator. 'It has helped BharatPe scale its payment solutions across a broader merchant base, deepen its presence in Tier-II and Tier-III cities, and invest in building advanced technology infrastructure to support high-growth sectors,' the company said in a statement. The company is also positioning itself as an infrastructure provider via its role as technology service provider (TSP) for Unity Small Finance Bank. 'As a TSP, BharatPe is responsible for managing the core UPI transaction processing layer, ensuring high system availability, seamless throughput, and compliance with NPCI's evolving protocols,' it added.
Mint
2 minutes ago
- Mint
PhonePe SBI Card SELECT BLACK: Reward rates, fees, and benefits explained
In the last few years, some banks have excluded utility bill payments from earning rewards from their credit card programs. Some banks have even started charging a convenience fee if the amount spent on utility bill payments exceeds a specified amount in a billing cycle. However, utility bills are something that every household needs to pay every month. In such a scenario, what if you could get a credit card with a 10% reward rate on utility bill payments? Yes, the PhonePe SBI Card SELECT BLACK provides a 10% reward rate on utility bills, insurance, travel, and much more. So, let us look at the features and benefits of this card and whether you should take it. Rewards structure: The PhonePe SBI Card SELECT BLACK provides an accelerated reward rate of 10 reward points for every Rs. 100 spent on eligible PhonePe and PINCODE spends. These spends include recharges, utilities, bill payments, insurance, flights, hotels, and PINCODE. There is a capping of a maximum of 2,000 reward points in a month. The cardholder will get 5 reward points for every Rs. 100 spent on online spends. There is a capping of a maximum of 2,000 reward points in a month. The cardholder will get 1 reward point for every Rs. 100 spent on all other eligible spends. All Scan & Pay transactions done using the PhonePe SBI Card SELECT BLACK on any UPI App will earn 1 reward point/Rs. 100 spent. There is a capping of a maximum of 2,000 reward points in a month. The utilities and insurance spends outside PhonePe will earn the base reward rate of 1 reward point/Rs. 100 spent, subject to a maximum of 500 reward points/month. Exclusions: The spends on the following categories will not earn any reward points: Fuel purchases E-wallet loading Rent and property management payments School & educational services Government spends Digital gaming platforms Any financial charges levied on the card ATM withdrawals Merchant EMI transactions Milestone benefits: The cardholder will get a Rs. 5,000 Yatra Gift Voucher on completing spends of Rs. 5 lakhs in a year. The voucher can be used for booking flights, hotels, and holidays on the Yatra website/App and is valid for a single transaction only. The voucher code will be sent to the cardholder on their registered mobile number/email ID within 30 days of achieving the Rs. 5 lakhs annual spend milestone. Lounge access: The cardholder can enjoy complimentary airport lounge access. The cardholder is eligible for 4 complimentary domestic airport lounge visits every year (maximum 1 per quarter). The cardholder will get a Priority Pass complimentary membership worth $99 for the first two years of card membership. Fuel surcharge waiver: The card provides 1% fuel surcharge waiver at all petrol pumps across India. The waiver applies to fuel transactions between Rs. 500 and Rs. 4,000. The maximum waiver that can be earned in a statement cycle is Rs. 250. Reward redemption: The value of each reward point is Rs. 1. The reward points can be redeemed against cash or gift vouchers. The cardholder can redeem the reward points as a statement credit. Accordingly, the credit card outstanding balance will be reduced by the number of reward points redeemed. The cardholder can redeem reward points against gift vouchers on the SBI Card Rewards portal. The reward points are valid for 2 years from the date of receipt. Fees: The joining fee on the card is Rs. 1,499 + taxes. The cardholder gets a welcome benefit of a Rs. 1,500 PhonePe Gift Card. The voucher will be shared with the cardholder on their registered mobile number/email ID within 45 days of joining fee payment. On adding the voucher to the gift card balance on the PhonePe App, it will be valid for 12 months. The annual renewal fee on the card is Rs. 1,499 + taxes. The annual fee is reversed on spending of Rs. 3 lakhs or more in the previous membership year. An individual can apply for the PhonePe SBI Card SELECT BLACK through the PhonePe App. After entering the details on the PhonePe App, the applicant must complete the KYC with SBI Card. Let us take an example to understand how to maximise the benefits of this card. Suppose a cardholder spends Rs. 75,000 monthly on various categories as follows. Category Reward rate Annual spends Annual benefit PhonePe – Rs. 20,000 monthly spends 10% - 2,000 reward points/month worth Rs. 2,000 Rs. 2,40,000 Rs. 24,000 Online spends – Rs. 40,000 monthly spends 5% - 2,000 reward points/month worth Rs. 2,000 Rs. 4,80,000 Rs. 24,000 Other spends (including Scan & Pay UPI spends) – Rs. 15,000 1% - 150 reward points/month worth Rs. 150 Rs. 1,80,000 Rs. 1,800 The above table shows how, by spending Rs. 75,000 per month (Rs. 9 lakhs annually) with the card, the cardholder can earn 49,800 reward points annually. The reward points are worth Rs. 49,800. As the cardholder is spending more than Rs. 5 lakhs in a year, they will get a Rs. 5,000 Yatra gift voucher. The cardholder's annual renewal fee of Rs. 1,499 + taxes for next year will also be waived as the annual spends exceed Rs. 3 lakhs. Utility bill payments are something that every household has to pay every month. A 10% value back on these bill payments is a big bonus. You can also enjoy a 10% value back on travel spends such as booking flight tickets and hotel rooms. Apart from these, the PhonePe SBI Card SELECT BLACK provides 5% value back on all eligible online spends and 1% value back on UPI and other spends. Thus, if you transact regularly on the PhonePe App and spend online regularly, you may consider the PhonePe SBI Card SELECT BLACK. It is a good credit card with 10% value back on specified spends on PhonePe and 5% value back on online spends. Gopal Gidwani is a freelance personal finance content writer with 15+ years of experience. He can be reached at LinkedIn. Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. For all personal finance updates, visit here.
The Wire
2 minutes ago
- The Wire
CARD91 Launches AI-Powered UPI Credit Scoring Engine to Enable Smarter Lending and Drive Financial Inclusion
BANGALORE, India, Aug. 7, 2025 /PRNewswire/ -- CARD91, a leading payments infrastructure provider, has launched its AI-powered UPI Credit Scoring Engine—a behavioural Business Rules Engine (BRE) that transforms real-time UPI transaction data into dynamic, actionable credit scores. Built to go beyond traditional bureau-based assessments, the solution enables banks, NBFCs, and fintechs to underwrite and pre-approve thin-file and new-to-credit customers with greater confidence—enhancing approval rates, reducing default risk, and driving financial inclusion. Ajay Pandey, CEO of CARD91, commented: "Millions of deserving borrowers remain underserved due to limited or no bureau history. Our AI-powered UPI Credit Scoring Engine redefines risk assessment—enabling lenders to extend credit responsibly while protecting their portfolios." Core Capabilities • Behavioural Credit Scoring (0–100) Uses machine learning to analyze real-time UPI transaction patterns—frequency, value, and categories—to compute a behavioural score, independent of traditional bureau history. • Customizable Eligibility Filters Filter applicants based on income range, transaction history, location, or demographic data to align with one's credit product's risk appetite. • Real-Time & Bulk Score Generation Generate scores instantly via API or in batches—seamlessly integrated into onboarding or underwriting workflows. • Automated Risk Segmentation Automatically classify customers into High, Medium, or Low risk bands based on scoring thresholds tailored to one's business rules. • Configurable Approval Matrix Map risk bands to decision flows—auto-approve, flag for manual review, or reject—reducing manual intervention and improving turnaround time. • Bureau Score Benchmarking Compare behavioural UPI scores with bureau ratings to measure uplift, validate credit decisions, and improve portfolio segmentation. Reimagine Lending with CARD91 Compliant, scalable, and AI-driven, CARD91's UPI Credit Scoring Engine enables lenders to modernize underwriting, reach underserved segments, and scale responsibly. It is built for banks, NBFCs, and digital lenders. It works seamlessly for institutions offering Credit Cards, Credit Lines, Personal Loans, and BNPL products—helping them extend credit confidently to thin-file and new-to-credit segments. About CARD91 CARD91 is a Payments Infrastructure company providing unparalleled technology infrastructure to Banks and other Regulated Entities. The company offers complete tech stacks for PPI, Credit, Multi-Currency, UPI Switch, Credit Line on UPI, UPI Credit Score Engine, Merchant Management, and Merchant Onboarding (with fraud checks). With a team strength of 70+ professionals, CARD91 operates across key financial hubs, including Bangalore, Mumbai, Delhi, and Chennai. For more information, visit or contact sales@ Logo: (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.). PTI This is an auto-published feed from PTI with no editorial input from The Wire.
