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Time of India
02-07-2025
- Business
- Time of India
Bhim gets big boost as NPCI scales up incentives, offers
ETtech Academy Empower your mind, elevate your skills Bharat Interface for Money (Bhim), the government's UPI-based consumer payments application, has almost doubled its monthly transaction count in the last six months to around 70 million in June, according to people in the run by the National Payments Corporation of India ( NPCI ), had experienced a stagnation for more than two years, processing around 25 million transactions a month between January 2022 and June 2024, before the numbers started app reported 64.6 million transactions in May, up 91% from 33.8 million transactions in has undergone a major user-interface revamp over the last one year and is now doubling down on marketing and promotional is estimated to have allocated Rs 150–200 crore this fiscal to popularise the app, two people cited above said.'Some of the early trends show that the incentives are actually working, and consumers are getting back to using the app,' one of them said. 'In June, it would have processed around 70–75 million transactions, growing consistently.'NPCI did not respond to ET's queries as of press time is yet to break into the top ten UPI apps in transaction volumes. Its share, in fact, is less than 1% as the UPI platform processed 18.4 billion transactions during June, according to latest NPCI is yet to release the June numbers for each of the UPI terms of value of funds, Bhim is bigger than some of its peers. In May, for example, it settled Rs 11,243 crore, higher than Amazon Pay's around Rs 10,000 crore. The overall UPI transaction value stood at Rs 25.14 lakh crore in in 2016 by Prime Minister Narendra Modi, Bhim was hived off into a separate corporate entity named NPCI Bhim Services Ltd (NBSL) in early 2024, led by ex-banker Lalitha Nataraj as the chief executive the exact marketing budget for NBSL could not be ascertained, NPCI's overall marketing spends stood at Rs 774 crore in FY24, according to its latest annual is keen to create a distinct brand identity and recall value for Bhim as it pushes smaller UPI apps to scale up to reduce market concentration on two or three following a typical fintech playbook offering cashbacks and discounts , Bhim is running targeted incentives on mobile recharges, bill payments and FasTag recharges. Interestingly, bill payments on few of the UPI applications actually attract a separate service comes at a time when leading fintech platforms have drastically cut down on UPI incentives. PhonePe reported spending only Rs 15 crore in payment incentives in FY data from May shows that the average ticket size of transactions on Bhim is around Rs 1,756 and this has gone down significantly from around R 3,500 a year back.'Consumers were using Bhim for very large ticket-sized payments,' said the second person cited above. 'Now, a single payment transaction going down shows that the app is actually being used more for small value payments on a regular basis.'Besides focusing on its own mobile application, NSBL has also opened up two new products — Vega and Vishwas. With Vega, merchants via their banks can process UPI payments within their own application, which increases the rate of transaction success. With Vishwas, NBSL is offering banks the capability to offer UPI payments via their mobile banking applications.'For those banks which do not promote UPI payments within their mobile application or might not have the technology prowess to offer such features, they can use the Bhim platform to power QR code payments, inter-personal transactions from the app,' said the person quoted transactions, being powered by Bhim, will also push up the transaction count for the NPCI-run payments app on the UPI the plan is to get Bhim to power consumer payments and also power banks so their customers can undertake UPI payments from their apps only and are not forced to use third party applications for such transactions, people cited above said.
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Business Standard
23-04-2025
- Business
- Business Standard
BHIM app rolls out the UPI Circle feature with partial delegation
NPCI BHIM Services (NBSL), a wholly owned subsidiary of the National Payments Corporation of India (NPCI), launched the UPI Circle feature with partial delegation on the Bharat Interface for Money (BHIM) application on Wednesday. The latest feature on India's real-time payments system, Unified Payments Interface (UPI), enables a primary user, the UPI account holder, to authorise up to five secondary users to transact using UPI from their account. Transactions initiated by these secondary users will require explicit approval from the primary users via their UPI PIN on the application. Secondary users' transactions are visible to primary ones in real time. 'UPI Circle on BHIM is more than just a feature; it's a step towards a more inclusive and connected financial ecosystem. By offering a secure and flexible way to delegate financial responsibilities, UPI Circle enhances the way we share and manage our money and supports a more interconnected society,' said Lalitha Nataraj, managing director and CEO, NBSL. Senior citizens hesitant to use digital payments can be authorised by a family member on UPI Circle to approve payments on their behalf. Parents can allow their children to manage expenses through delegated access. Business owners can allow their staff to initiate payments such as fuel, tolls, vendor payments, among others. UPI Circle is available on the latest version of the BHIM app. The app also supports features such as split expenses, family mode, spends dashboard, multilingual support, and a redesigned user experience. NBSL was spun off as NPCI's wholly owned subsidiary in 2024. Developed by NPCI, BHIM was launched by Prime Minister Narendra Modi in 2016.
Time of India
23-04-2025
- Business
- Time of India
UPI circle on BHIM app enables users to approve payments for family members remotely
File photo MUMBAI: UPI users can now delegate payment access to trusted contacts—including family members, staff, or digitally inexperienced users—through a new feature on the BHIM app called UPI Circle . Launched by NPCI BHIM Services Ltd ( NBSL ), a wholly owned subsidiary of NPCI, the feature supports multiple use cases, including support for senior citizens, controlled spending for young adults, and secure delegation for small businesses. For instance, senior citizens can have a family member approve payments on their behalf. Similarly, parents can enable children to manage educational or daily expenses through real-time approvals. Business owners can delegate payment initiation to staff for operational spending, such as vendor payments or fuel costs, with full oversight. The feature also allows individuals without a UPI-linked bank account to request payments, which can be approved by a trusted user in real-time. The UPI user will get a sound notification as soon as the request is sent. 'At present, parents or family members who do not use UPI usually send a photo of the QR code asking their relatives to pay. With Circle, without linking their bank accounts they can send a request to family members who then authorise the payment without having to go through the hassle of saving the QR code photo in their gallery and searching for it'said Lalitha Natraj, MD & CEO, of NBSL Also, as a safety feature UPI apps limit the amount that can be paid by scanning QR code from gallery to Rs 2000. Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The new service will help overcome this limitation. 'This is an interoperable solution and can be used with other third-party payment apps as well,' she said. UPI Circle introduces partial delegation by allowing a primary user to authorise up to five secondary users to initiate payments. Each transaction requires explicit approval from the primary user via UPI PIN on the BHIM app. This ensures all delegated transactions are transparent and controlled, with the primary user receiving real-time notifications and maintaining visibility on all activities. According to Nataraj, Circle is not developed as a business solution, but it can be used to enable staff or employees to make payments on the employers behalf without transferring money to the employee. The feature is aimed at expanding access to digital payments while maintaining security and oversight. Lalitha Nataraj, MD & CEO of NBSL, said the feature is intended to create a more inclusive and connected financial ecosystem by enabling secure and flexible sharing of payment responsibilities. UPI Circle is available on version 4.0.2 of the BHIM app, which also includes other updates such as Split Expenses, Family Mode, a Spends Dashboard, multilingual support, and a redesigned user interface. Users can access the UPI Circle section from the app's home screen or menu, add a secondary user by UPI ID or QR code, and set the delegation type to 'Approve every payment.' Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
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Business Standard
23-04-2025
- Business
- Business Standard
UPI Circle launched on Bhim app: how it works and key benefits
NPCI BHIM Services Limited (NBSL) has launched a new feature on the BHIM app that allows users to securely delegate payment access for Unified Payments Interface (UPI) to up to five 'trusted individuals', with each transaction requiring real-time approval from the account holder. UPI Circle's launch comes at a time when the digital payments service is expanding steadily. UPI in April recorded 18.3 billion transactions amounting Rs 24.77 trillion, a 13.6 per cent jump in volume and a 12.8 per cent rise in value compared to March, according to NPCI data. 'UPI Circle on BHIM is more than just a feature; it's a step towards a more inclusive and connected financial ecosystem,' said Lalitha Nataraj, managing director and chief executive officer of NBSL. 'By offering a secure and flexible way to delegate financial responsibilities, UPI Circle enhances the way we share and manage our money.' What is UPI Circle All transactions are fully visible to the primary user, ensuring complete transparency and control. Why UPI Circle matters The feature is designed to promote financial inclusion and flexibility while maintaining security. Some key use cases highlighted by NBSL include: Support for senior citizens who may struggle with digital payments. Empowering young adults and children to manage limited expenses under parental supervision. Helping digitally inexperienced users, like dependents, manage finances with guidance. How to Use UPI Circle on BHIM 1. Update or download the BHIM app (version 4.0.2 or later). 2. Navigate to the 'UPI Circle' section on the home screen or menu. 3. Tap 'Add Secondary User' and input their UPI ID or scan their QR code. 4. Set the delegation type as 'Approve every payment.' 5. The secondary user receives an invite; upon acceptance, they can initiate payments. 6. The primary user receives a real-time approval request for every transaction and must authorize it via UPI PIN. UPI Circle is part of a broader upgrade to the BHIM app, which now also includes features like Split Expenses, Family Mode, and a Spend Dashboard.
