Latest news with #PhonePe
Mint
a day ago
- Business
- Mint
UPI Circle goes cross-platform: Here's how it works across BHIM, GPay and PhonePe
Managing daily payments for elderly family members or dependents, long a logistical challenge for many Indian households, just got easier. The National Payments Corporation of India (NPCI) has expanded the UPI Circle feature, previously exclusive to the BHIM app, to work interoperably across major platforms like PhonePe and Google Pay. The upgrade transforms UPI Circle into a practical, everyday tool for families who use different apps to manage shared expenses. 'UPI Circle now enables interoperability between apps like BHIM, GPay, and PhonePe. This allows primary and secondary users to link and transact even if they are on different UPI platforms,' a spokesperson from PhonePe said. UPI Circle allows a primary user to authorize trusted secondary users, such as family members, friends, or caregivers, to make payments from their bank account within pre-set limits. Previously, this feature could only be accessed on the BHIM app. That limitation posed a barrier to many users who preferred other UPI apps like PhonePe or GPay. This means a caregiver using BHIM can now transact on behalf of an elderly parent who prefers PhonePe, or vice versa, without switching platforms. With UPI Circle now supporting cross-platform functionality, users can link across different UPI apps to enable delegated payments. A common scenario is where a primary user on PhonePe authorizes a secondary user on the BHIM app to make transactions on their behalf. The setup process and payment flow have been designed to be intuitive and secure, enhancing convenience for families managing shared financial responsibilities. To initiate the process, the primary user on PhonePe begins by navigating to the UPI Circle section on the home screen. From there, they select the option to 'invite a secondary contact'. The primary user can either pick a contact saved on their device or manually enter the secondary user's UPI ID. Alternatively, they can scan the secondary user's QR code, which can belong to any UPI app that supports the UPI Circle feature, including BHIM, GPay, or PhonePe. In this case, the secondary user is on the BHIM app. Once the invitation is sent, the secondary user receives a notification on the BHIM app and accepts the invite. The primary user on PhonePe is then alerted that the invite has been accepted, completing the linking process. From this point onward, the secondary user is authorized to initiate payments using the primary user's account, in accordance with the permissions granted. The payment flow between the two apps is also seamless. The secondary user on BHIM initiates a payment by either scanning a QR code, entering a VPA, or typing in a mobile number. When prompted to choose a payment instrument, they select the primary user's account, which was previously linked via UPI Circle. After confirming the payment request, the primary user receives a real-time notification on the PhonePe app. The primary user can then approve or decline the transaction by entering their UPI PIN. Once approved, the transaction is completed, and both parties—on BHIM and PhonePe—receive confirmation messages. The transaction is also recorded in the history section of both apps, ensuring transparency and easy tracking. This interoperability between apps like PhonePe and BHIM makes UPI Circle significantly more accessible and useful in real-world settings, especially for households where family members use different UPI platforms. UPI Circle supports two types of access—partial and full. In partial delegation, the secondary user can initiate a payment, but the transaction must be approved by the primary user, who completes it by entering their UPI PIN. This setup is ideal for situations where the primary user wants to maintain direct control over every transaction while still allowing someone else to initiate payments. For instance, a child making a payment request on behalf of a parent, who then authorizes it in real time. In full delegation, the primary user gives the secondary user complete authority to make payments independently, within a defined limit—up to ₹ 5,000 per transaction and ₹ 15,000 per month. This is useful in scenarios where the primary user may not always be available to approve transactions, such as an elderly parent authorizing a caregiver to make daily purchases without needing frequent PIN approvals. However, as of now, full delegation is only supported on the BHIM app. PhonePe and GPay currently support only partial delegation, with full delegation expected to roll out on these platforms soon. Real-time alerts for every transaction and the ability to revoke access at any time provide reassurance to primary users, particularly those who may be less tech-savvy and concerned about fraud. The adoption of UPI Circle by apps like PhonePe and GPay is expected to drive broader usage of the feature, especially among users who rely on different UPI apps for daily transactions. The move also reflects the growing maturity of India's digital payments ecosystem, where interoperability and user control are increasingly prioritized. The cross-platform availability of UPI Circle strengthens its core value proposition: simplifying financial delegation while preserving user oversight. For millions of Indians managing payments for others, it's no longer just a feature—it's a much-needed solution that fits seamlessly into their digital lives.
Yahoo
2 days ago
- Business
- Yahoo
Walmart (NYSE:WMT) Partners With NationsBenefits To Enhance Health And Wellness Shopping Experience
Walmart recently announced a collaboration with NationsBenefits, aiming to enhance healthcare access through initiatives like the Basket Analyzer Service and Everyday Health Signals program. This move highlights the company's focus on integrating healthcare with retail experiences. Alongside other product launches, such as the "Hot Girl Summer" swimwear collection and the expansion of health-oriented offerings, Walmart saw a 2% price increase over the month. While these developments may have bolstered its market position, broader market trends, such as the tech sector rally and tariff adjustments, played a significant role in supporting overall stock gains. We've discovered 2 risks for Walmart that you should be aware of before investing here. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. The collaboration between Walmart and NationsBenefits introduces promising opportunities for Walmart to further intertwine healthcare with its retail operations. As Walmart continues to expand its product offerings and integrated services, this initiative could potentially boost revenue streams and support the narrative of enhanced supply chain efficiency and e-commerce growth. The integration of programs like the Basket Analyzer Service aligns well with Walmart's focus on higher-margin ventures, which could positively impact earnings projections. Over a five-year period, Walmart has delivered a total return of 153.73%, reflecting strong long-term performance. While Walmart's stock exceeded the broader US market's return of 11.5% over the past year, this suggests a robust positioning against market fluctuations despite currency and inflationary pressures potentially moderating future gains. In the shorter term, Walmart's recent share price uptick of 2% is vindicated by analysts' consensus price target of US$107.01, approximately 7.9% higher than the current price of US$98.55, indicating confidence in achieving forecasted revenue and margin improvements. Forecasts indicate a 4.1% annual revenue growth for the next three years, with earnings anticipated to rise significantly, driven by ventures like the PhonePe IPO. The healthcare collaboration is a step towards enhancing Walmart's comprehensive service model, aligning with analysts' projections of a strong growth trajectory in earnings. The investor community should remain mindful of the impact that operational investments and market conditions hold on profitability and valuation assessments. Learn about Walmart's future growth trajectory here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:WMT. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
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Business Standard
2 days ago
- Business
- Business Standard
Fintech firm Razorpay completes reverse flip from US to India ahead of IPO
Fintech firm Razorpay has joined a growing list of firms to reverse flip, shifting the domicile of its parent company from the United States to India as it prepares for an initial public offering (IPO). The shift comes weeks after the company converted itself into a public limited company. "Yes, we've officially completed our reverse flip, and we couldn't be more proud. It is more than a structural move; it's a powerful signal of belief. We started Razorpay with a dream to build for India, and today, we're doubling down on that dream by making India not just our largest market, but our global headquarters,' said Shashank Kumar, cofounder and managing director (MD), Razorpay. At present, many Indian startups are domiciled in countries such as Singapore, Mauritius, the United States, the United Kingdom, and Germany. The startup homecoming is driven by factors such as financial regulation, better access to capital, and improved valuations in the country, Business Standard reported last year. Fintech major PhonePe had to pay about $1 billion in capital gains taxes to the Indian government to complete the domicile shift back to the country. The company reverse flipped from Singapore more than two years ago. Stock broking platform Groww formally moved its domicile back to India from the US through a reverse flip by its parent firm in May last year. Quick commerce platform Zepto, too, shifted its domicile from Singapore to India earlier this year. E-commerce giant Flipkart, based and operating in India, signalled its intent to relocate its holding company from Singapore to India as the company prepares for an IPO.
Entrepreneur
3 days ago
- Business
- Entrepreneur
Flipkart Internet Secures USD 262 Mn in Fresh Internal Funding from Parent Entity
The funding comes amid Flipkart's plans to shift its domicile from Singapore to India and prepare for a much-anticipated IPO, which media reports suggest could value the company between USD 60 billion and USD 70 billion. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Flipkart Internet (India), the marketplace arm of Walmart-owned Flipkart, has secured USD 262 million (approximately INR 2,225 crore) in fresh internal funding from its Singapore-based parent, according to filings sourced by Entrackr. This follows a USD 382 million infusion just two months ago, marking continued capital support as the e-commerce giant gears up for a major strategic shift. The company's board has approved the allotment of equity shares worth INR 2,225 crore to Flipkart Marketplace Private Limited (Singapore), as per documents filed with the Registrar of Companies. Around the same time, its fashion subsidiary Myntra received USD 125 million from its parent firm FK Myntra Holdings. The funding comes amid Flipkart's plans to shift its domicile from Singapore to India and prepare for a much-anticipated IPO, which media reports suggest could value the company between USD 60 billion and USD 70 billion. Flipkart joins a growing list of Indian startups, including Pine Labs, Zepto, Meesho, and Razorpay, in relocating headquarters to India. Walmart currently owns 85% of Flipkart Internet, which includes Myntra and PhonePe. Other key stakeholders include Tencent, CPP Investments, GIC, SoftBank, and Microsoft. Flipkart's current valuation stands at USD 36 billion.
Mint
3 days ago
- Business
- Mint
UPI credit line explained: Benefits, eligibility, and how to apply
The UPI, an important part of India's paperless economy, has appeared in an ever-changing digital banking environment. Building on this model, the UPI credit line rollout allows for a seamless transition to include credit facilities into everyday transactions. The UPI credit line is a pre-approved credit facility that connects to a user's UPI account. It allows an individual to access borrowed funds for a payment or purchase that is then repaid later. This system eliminates the need for a readily accessible traditional credit card; it offers an easier-to-use and more accessible form of credit. Easy integration: Borrowers will have easy access to their funds by simply linking their credit line to any app using UPI. Flexible repayment: Borrowers will have the option to pay back the entire amount of credit used or pay parts of it off using the flexibility they have with their own finances. Safe money movement: Adding another layer of protection, each transaction will be verified with a unique UPI PIN. Widespread use: You can use the credit line to pay for business through use of e-commerce platforms or by scanning QR codes. Potential applicants for the UPI credit line would be expected to meet the following definitive qualifications: Age: The applicant must be eighteen years of age at the time they apply for the credit line. The applicant must be eighteen years of age at the time they apply for the credit line. Bank account: The applicant must have a checking or savings account at a bank that holds a UPI credit line account. The applicant must have a checking or savings account at a bank that holds a UPI credit line account. Credit score : The assessment on whether a person has good credit history by the bank is a reasonable indicator of creditworthiness. The assessment on whether a person has good credit history by the bank is a reasonable indicator of creditworthiness. KYC: The applicant must complete the KYC process, which means they are to provide proof of address information and identifying documentation. Open UPI app: Open your chosen UPI-enabled app, e.g. Google Pay, PhonePe or Paytm. Find the credit services section: Go to the area in the app named 'loan' or 'credit'. Apply for a credit line: After selecting to apply for a credit line, input the appropriate financial and personal information. Complete KYC: Undertake the KYC process which could include documenting identity and the verification process. Link and use: Once approved, the credit line is linked to your UPI account and available for use in the transactions. Accessible: Offers an alternative to regular credit cards and can be an advantage for those who struggle to access traditional credit. Offers an alternative to regular credit cards and can be an advantage for those who struggle to access traditional credit. Convenient: Allows people to access credit quickly and easily and does not require paper receipts or physical cards. Allows people to access credit quickly and easily and does not require paper receipts or physical cards. Financial inclusion: The goal is to increase the number of people that can access formal credit in a way to enable greater participation in the economy. The goal is to increase the number of people that can access formal credit in a way to enable greater participation in the economy. Cheap: Could be less than standard credit products because of the interest rate and fees. Guidelines for usage: Credit lines may not support peer-to-peer transfers since credit lines are generally for merchant transactions. Credit lines may not support peer-to-peer transfers since credit lines are generally for merchant transactions. Impact to credit: There is a risk to your credit score if you don't repay your utilised credit on time. There is a risk to your credit score if you don't repay your utilised credit on time. Availability: The UPI credit line feature is not supported by all banks, or all UPI applications. In conclusion, the UPI credit line is an exciting development in the digital finance space in India. It is a convenient and flexible credit solution that can be integrated into day to day transactions easily. This feature could potentially increase financial inclusion, and allow customers to better manage their financial obligations, leveraging UPI"s wide acceptance. Disclaimer: Mint has a tie-up with fin-techs 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 score. 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.
