Latest news with #UPICircle
Time of India
10-07-2025
- General
- Time of India
Children Using UPI Payments? नया UPI Circle Feature Explained — बच्चों के लिए Safe Setup Guide!
मोहिनी केडिया Produced by: • मोहिनी केडिया Contributed by: | Navbharat Times• 10 Jul 2025, 3:15 pm Children Using UPI Payments? नया UPI Circle Feature Explained — बच्चों के लिए Safe Setup Guide!
Indian Express
30-06-2025
- Business
- Indian Express
Your child can also make UPI payments: Here's how UPI Circle works for children
As India's digital payments ecosystem continues to evolve, many parents are asking a practical question: Can my child use UPI to make payments? The answer is yes – either through delegated access like UPI Circle, or, in some cases, with their own UPI ID, depending on their age and bank account status. UPI Circle is a delegated payments feature available on apps like Google Pay and BHIM. It allows a primary user (in this case, a parent) to link their bank account and pick a secondary user (your child) to make payments, either with certain transaction limits or subject to the parent's approval. Once set up, your child can scan QR codes and send money through your UPI ID. They do not get access to your bank account or UPI PIN, so that you stay in control the entire time. You can set daily or monthly limits, or opt to approve each transaction individually. This setup is ideal for children under 15 or for those without their own bank account. It helps introduce them to responsible spending while ensuring that an adult is always in charge. Yes, but with certain conditions. If your child is 15 years or older and has their own bank account in their name (not a joint minor account), they can register for a UPI ID. Several banks allow minors as young as 10 to set up bank accounts, though parental documentation like a PAN card is typically required. Once the UPI ID is active, most apps allow them to send and receive payments independently, often with daily limits up to Rs 1 lakh, depending on the bank. That being said, many parents still prefer to use UPI Circle even with older teens, as it offers a layer of oversight without entirely restricting digital access. – Open Google Pay or BHIM app and click on your profile picture. – Scroll down and select UPI Circle. – Click on UPI Circle and choose 'Add Family or Friends' to add members. – Enter their UPI ID. You can also scan their UPI Circle QR code. – Click 'Add to My UPI Circle' – Choose between 'spend with limits' (for transactions within a set limit) or 'approve every payment' (requiring your approval for each transaction). – Enter your UPI PIN to add the secondary user. So, which option is right for you? If your child is under 15 or does not have a bank account, use UPI Circle. If your child is 15+ with a bank account in their name, they can apply for their own UPI ID or use UPI Circle for restricted access. (This article has been curated by Arfan Jeelany, who is an intern with The Indian Express)
Yahoo
24-06-2025
- Business
- Yahoo
PhonePe reportedly planning $1.5bn India IPO
Walmart-backed Indian fintech firm PhonePe is gearing up for an initial public offering (IPO) to raise up to $1.5bn, Bloomberg reported citing people familiar with the matter. The IPO is expected to value the company at approximately $15bn, with plans to file a draft red herring prospectus as early as August, Bloomberg added. Founded in 2015, PhonePe is India's 'largest' digital payments provider, boasting over 610 million registered users and processing 340 million rupees of transactions daily, per Bloomberg. According to Reuters, the company serves more than 600 million registered users across 40 million merchants, handling over 310 million online transactions daily via India's unified payments interface (UPI). In 2023, PhonePe raised $100m from Ribbit Capital, Tiger Global Management, and TVS Capital Funds, valuing the company at $12bn at the time. The firm has engaged Kotak Mahindra Capital Co., JPMorgan Chase & Co., Citigroup Inc., and Morgan Stanley to manage the offering, Bloomberg reported. Discussions remain ongoing, and details may change, according to Bloomberg's sources. A PhonePe spokesperson did not respond to Bloomberg's request for comment. In May this year, PhonePe launched an upgraded version of its SmartSpeaker, a device designed to facilitate payment voice notifications for merchants. The latest iteration of the SmartSpeaker is manufactured in India and retains the voice notification feature of the original model, which was introduced in 2022. The device supports 21 language options and includes a celebrity voice feature. In April, the company introduced the UPI Circle feature on its app, enabling users to make payments to family members, friends, or other trusted individuals within a designated group. "PhonePe reportedly planning $1.5bn India IPO – report " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Mint
30-05-2025
- 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.
Economic Times
16-05-2025
- Business
- Economic Times
UPI extras miss mark; Amazon streamlines India ops
Happy Friday! Most new features on United Payments Interface (UPI) have struggled to gain meaningful traction over the years. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ PB Fintech profit triples■ GIC seeks CCI nod for Groww stake■ Uptick in SaaS M&A deals UPI Lite and wallet-based pay off to a slow start as UPI payments climb In recent years, the National Payments Corporation of India (NPCI) has rolled out several new features—UPI Lite, wallet-based payments, recurring payments via UPI, UPI through RuPay credit cards, and UPI Circle. Yet, most have seen limited adoption. Driving the news: According to multiple sources, features like UPI Lite, wallet-based UPI payments, and RuPay card usage on UPI are seeing just 80-150 million monthly transactions. While not insignificant, these numbers appear modest given UPI's massive scale. Going deeper: Industry insiders cite several challenges hindering adoption: Fintechs such as PhonePe, Google Pay, and Paytm have done little to promote these features. The lack of financial incentives means big players primarily use UPI to drive traffic to their revenue-generating products. Banks are reluctant to invest in building and maintaining tools that show weak traction. Fresh challenges: Despite UPI's runaway success, NPCI must now prove its innovation muscle. Features like UPI Lite and wallet-based payments were designed to ease pressure on core banking systems. Their failure to scale undermines that goal and the NPCI's ambition to evolve the platform. Also Read: Behind UPI-first digital payment apps' latest plan to revamp their mobile wallet operations Amazon India's board clears logistics arm & marketplace biz merger Amazon Transportation Services (ATS), the logistics arm of American ecommerce giant in India, is merging with Amazon Seller Services, the primary marketplace unit in the country. Driving the news: The National Company Law Tribunal (NCLT) has granted interim approval for the merger. In its filings with the NCLT, Amazon stated that the move aims to: Reduce legal and regulatory compliance requirements Enable more efficient management of infrastructure and resources across both companies. For context: ATS was launched in 2013 as an in-house logistics service for Amazon's ecommerce marketplace in India. The unit still generates more than 95% of its revenue from Amazon. In 2023, ATS began offering its services to third-party clients as well. Rival watch: Flipkart operates its own logistics arm, Ekart Logistics. Meesho, backed by SoftBank, launched Valmo last year to serve its sellers. Financial snapshot: ATS reported a 7.6% YoY rise in operating revenue for FY24 to Rs 4,889 crore. Amazon Seller Services reported Rs 25,406 crore in operating revenue during FY24, up 14%. Also Read: CAIT calls for ban on sale of Pakistani flags, merchandise on Amazon, Flipkart Flipkart helps deliver strong Walmart ad business Ecommerce giant Flipkart has powered a strong quarter for its US-based parent Walmart, contributing to a 20% rise in international advertising revenue for the three months ending April 30. Walmart Q1 results: Walmart International reported net sales of $32.1 billion for the February-April quarter, marking a 7.8% year-on-year increase. Growth in constant currency terms was primarily driven by Flipkart, alongside strong performances from Walmart's businesses in China and Walmex (Mexico and Central America). In numbers: Flipkart Internet, the marketplace arm of Flipkart, earned nearly Rs 5,000 crore from advertising in the financial year ending March 2024, outpacing the Rs 3,734 crore generated from marketplace fees. Also Read: Flipkart may limit its quick commerce expansion to top cities to reduce burn Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. PB Fintech profit triples in Q4, revenue up 38% Alok Bansal and Yashish Dahiya, founders, PB Fintech group PB Fintech posted an 181% year-on-year (YoY) jump in net profit to Rs 171 crore for the quarter that ended March 2025, driven by strong performance across its business verticals. Q4 highlights: Net profit: Rs 171 crore, up 181% YoY Rs 171 crore, up 181% YoY Revenue: Rs 1,508 crore, up 38% YoY Rs 1,508 crore, up 38% YoY Expenses: Rs 1,437 crore, up 29% YoY (from Rs 1,145 crore in Q4 FY24) Tell me more: The robust profit growth was fuelled mainly by steady momentum in the insurance business, alongside strong disbursals in secured loans such as home loans and loans against property, which boosted the lending vertical. The slower pace of expense growth relative to revenue also contributed to the improved bottom line. Insurance business (Policybazaar): Q4 premium collection: Rs 7,030 crore (vs Rs 2,176 crore in Q4 FY24) FY25 total premium processed: Rs 23,486 crore Also Read: PB Healthcare secures $218 million from General Catalyst, PB Fintech, others GIC seeks CCI nod for Groww stake ahead of IPO Lalit Keshre, CEO, Groww Singapore's sovereign wealth fund GIC has sought the Competition Commission of India's (CCI) nod to acquire a 2.14% stake in wealthtech startup Groww through its affiliate Viggo Investment. Why it matters: The move is part of Groww's $200 million pre-IPO funding at a 6.5 billion valuation, as reported by ET on March 26. As we reported earlier, this will nearly double its 2021 private market valuation. The big picture: Groww, now India's largest stockbroker by active clients, recently shifted its domicile to India and is gearing up to file its IPO papers soon. Also Read: Groww gets CCI approval for bonus shares, founders relinquish extra voting rights Other Top Stories By Our Reporters Trump wants Apple to stop moving iPhone production to India: President Donald Trump asked Tim Cook to halt production in India and move back to the US, as the iPhone maker plans to diversify its manufacturing beyond China. SaaS sees an uptick in mergers, buyouts as AI flips the script: As smaller software-as-a-service (SaaS) companies struggle to raise funds and scale operations amid the AI boom, M&A deals increased 19% sequentially and 31% annually in the March quarter. New-age ice cream brand Hocco raises $10 million: The latest funding round was co-led by the Chona family office and Sauce VC, and funds were earmarked for expansion, capex, innovation, marketing, and more. Global Picks We Are Reading ■ US tech visa applications are being put through the ringer (Wired) ■ AI therapy is a surveillance machine in a police state (The Verge) ■ Apple finally launches next-gen 'CarPlay Ultra' software, starting with Aston Martin (TechCrunch) Updated On May 16, 2025, 07:14 AM IST
