Latest news with #UPICircle
Mint
3 days 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.
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
Time of India
16-05-2025
- Business
- Time of India
UPI Lite and wallet-based pay off to a slow start on zero-MDR bottleneck
New payment features like UPI Lite, UPI Circle, and wallet-based UPI payments are yet to gain traction as zero-MDR policy hampers fintech investments. In April, around 120 million UPI transactions were made through mobile wallets or prepaid payment instruments (PPIs) to settle transactions worth around Rs 4,000 crore, shows data sourced by ET. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Over the past few years, the National Payments Corporation of India ( NPCI ) has introduced multiple features—UPI Lite, wallet-based payments, recurring payments via UPI , UPI through RuPay credit cards and UPI Circle . These features are aimed at reducing banking system load for small transactions and enhancing network only recurring payments and credit cards on UPI have shown notable growth. The rest struggle to gain traction due to limited adoption.'Across both wallet-based UPI payments and UPI Lite , around 100 million transactions occur monthly. The growth is slow compared to the main UPI platform,' said a senior banker from a private sector sourced by ET shows that in April, around 120 million UPI transactions were made through mobile wallets or prepaid payment instruments (PPIs) to settle transactions worth around Rs 4,000 crore. Wallet-based UPI payments allow consumers to pay via mobile wallets to reduce bank statement clutter.'These are early days. Once merchant payments and credit features are integrated, transaction numbers will rise significantly,' said another Lite, which eliminates the need for a second authentication factor for small payments, saw 80-90 million transactions per month, or just 0.5-0.6% of overall UPI volume. In April alone, UPI reported 17 billion transactions worth Rs 23.9 lakh crore. Launched in September 2022, UPI Lite aimed to simplify small payments, but limited awareness has hindered its also launched UPI Lite X for offline UPI Circle, launched at the Global Fintech Fest last year , lets secondary users—like children or domestic help—make payments from a primary user's account while protecting against fraud. However, it currently records only a few hundred thousand transactions per of these features were designed to reduce banking system load or expand UPI's user base. However, changing consumer behaviour has proven successful feature is UPI Autopay , used for recurring payments like OTT subscriptions and financial transactions. 'Around 40 million new mandates are registered on UPI every month, mainly for OTT platforms and financial services,' said a third banker. Autopay has grown as it eliminates OTP requirements for transactions up to Rs 1 lakh, and up to Rs 15,000 for merchant credit cards on UPI have also seen traction after central bank allowed the move only for RuPay cards. Industry estimates suggest around 150-160 million RuPay credit card transactions occur via UPI. SBI Card reported a fourfold increase in UPI-based card spends last year, with 75% of active RuPay cards on UPI coming from tier-two cities and zero merchant charge, or merchant discount rate (MDR), mandate continues to discourage fintechs from heavily investing in promoting UPI features. 'Most large fintechs are avoiding major promotions or cashback initiatives due to zero MDR. As a result, these new features remain underutilised,' said a the largest UPI app, spent Rs 15 crore on incentives for payments in FY2024, while Paytm 's marketing spend dropped from Rs 300 crore in FY2024 to Rs 151 crore in bottleneck is the unresolved issue of merchant payment interchange for wallet-based UPI. Despite discussions, stakeholders have not agreed on a revenue-sharing model, with banks, fintechs, and NPCI struggling to find a middle ground.'There has been no decision on the interchange rate for five months,' said the third are increasingly wary of the costs associated with NPCI's frequent product launches. 'Every year, NPCI introduces new features that we are expected to implement. However, maintaining these platforms is costly, and without significant uptake, there is no return on investment,' said the first features like wallet payments on UPI are stuck at the level of banks not being able to zero in on the final interchange on merchant payments. ET had reported in January that industry stakeholders were pushing an interchange of 0.6-0.7% on each of these transactions. Interchange would mean there is a revenue sharing between the stakeholders.
Mint
03-05-2025
- Business
- Mint
Mint Explainer: UPI Circle's vast potential beyond family and friends
The newly introduced UPI Circle feature expands the reach of UPI to those without a bank account, such as minors, allowing inter-connected payments within trusted groups. The National Payments Corporation of India ( NPCI ) rolled out UPI Circle on its BHIM app a few months ago and opened it up for private payments platforms such as PhonePe and Google Pay last month. Mint gives a lowdown on UPI Circle and what it means for users. This new feature allows users to create a 'circle' on a UPI platform and authorise payments on behalf of family, friends or other people. It also enables such people in the primary user's 'circle' to generate their own UPI ID even without a linked bank account. A primary UPI user can add up to five dependent users to their 'circle', authorising them to transact from the primary user's UPI account within specified limits. The primary user will have real-time oversight of these transactions. 'UPI Circle enhances the way we share and manage our money and supports a more interconnected society," said Lalitha Nataraj, managing director and chief executive officer, NPCI BHIM Services Ltd, adding that the feature makes digital payments more useful, accessible and inclusive. A UPI Circle transaction mainly involves three parties. One is the primary user or UPI account holder who delegates the UPI authentication for another user to make payments. The secondary user is a person added to the primary user's UPI Circle so they can make UPI payments through the primary user's UPI-linked bank account. The third party is the recipient individual or merchant that initiates a payment with the secondary user and receives the payment from the account of the primary user. Cash is still predominantly used for payments in India, especially for small value transactions. While UPI has enhanced the usability of and access to digital payments, it requires a user to link a bank account with their UPI ID to make transactions. UPI Circle addresses users who are still dependent on cash for their daily payment needs as they may not be managing money through their own bank account. According to NPCI, around 6% of UPI users make a large number of transactions because they also make transactions on behalf of other users. Also read | How India pays online: UPI leads with 65% share, EMIs make up 20%—in charts UPI Circle allows a primary user to authorize payments for secondary users from anywhere, while retaining control over the transactions. A primary user can choose 'full delegation' to allow secondary users to make payments themselves within a specified limit, or choose the 'partial delegation' option to authorise every UPI transaction initiated by a secondary user in real time. It offers a simplified use case for shared expenses and allows users to create 'payment circles', which streamlines day-to-day financial transactions. Currently, only partial delegation has been launched under UPI Circle whereas full delegation is in the works. Without the need for an individual bank account, UPI Circle is seen opening up secure online payment solutions for those with limited access to digital financial services. It is seen extending the ease and convenience of digital payments to those who are underbanked and new to the ecosystem by enabling a secondary user to make transactions from a primary user's account with minimum intervention while ensuring risk mitigation. The feature allows a primary user to review payment requests, track the expenses of a secondary user, get secure access to detailed payment records within each circle, and unlink access from their UPI Circle. Enhanced security protocols, seamless integration with UPI platforms, and clearly defined responsibilities and permissions for primary and secondary users are meant to ensure that transactions are secure and reliable. Also read | Get set for UPI access to one's provident fund Banking technology company Zeta, in a post, said UPI Circle addresses a major gap in digital payments by providing the ability to delegate transactions securely and seamlessly—something that was only possible through cash till now. Use cases of the new feature could include a parent providing expenses to their minor kids, authorising payments on behalf of older parents or senior family members who may be wary of digital payments, or individuals who may want to delegate household chores and expenses. It can also be used by business owners, especially small business owners, to delegate payments to staff, or for corporate expenses such as for fuel, tolls, or vendor payments. UPI Circle opens avenues for financial platforms to increase volumes by capturing transactions that would otherwise be cash-based. It could also drive innovation as payments platforms look to develop new products and services tailored to delegated payment scenarios. Also read | What is UPI Meta? NPCI may plan new feature to streamline online payments
Mint
02-05-2025
- Business
- Mint
BHIM app update: A deep dive into recent features such as family mode, split expenses, spend analytics
The Bharat Interface for Money (BHIM) app, developed by the National Payments Corporation of India (NPCI), introduced a series of features such as split expenses, family mode, and spend analytics about a month ago, aimed at helping users manage their daily financial tasks more smartly. In addition, BHIM's UPI Circle feature continues to expand its use-cases for secure delegated payments. At the core of the app's functioning is the Unified Payments Interface (UPI), a platform that facilitates money transfers between bank accounts. Here's a deeper look into the new BHIM features, how to use them and where users need to be cautious. The split expenses feature is a practical tool for friends, roommates or colleagues who often share payments. This feature is already live on some other UPI apps. For a restaurant bill of ₹ 4,000 to be shared by four friends, instead of each one paying ₹ 1,000 separately, one person can pay the amount. The payer can then choose the Split Expenses option in the BHIM app, add the friends' UPI IDs, and the app will automatically send them a request for ₹ 1,000 each. Once they accept the request, the amount gets credited directly to the payer's bank account. Only transactions made via BHIM UPI can be split, and those sharing the expense must be BHIM users or have UPI IDs. The feature works only for one-time splits – recurring shared expenses such as monthly rent must be done manually every time. Family mode enables financial tasks to be shared among members. If the primary user is travelling overseas, the payment of electricity bills, DTH recharges, and Fastag top-ups can be assigned to the spouse or adult children using BHIM's Family Mode. The family members will get notifications when the bill is due, and the payments can be made from their bank accounts using BHIM. 'Family mode is designed to create a shared space within the app, allowing the primary user to assign specific tasks or payments to family members," explained Lalitha Nataraj, MD and CEO of NPCI BHIM Services Ltd. To use this feature, the primary member and the family members must have accounts on BHIM and their bank accounts linked. The family members are invited in the Family Mode section of the app. Once they accept the invite, bill payments or payment tasks can be assigned to them. Bills can only be assigned after the initial biller is registered and a payment is created. Assigned members will then receive timely reminders, ensuring that important family expenses are managed. With spend analytics, BHIM users can get a clear picture of their spending habits. The app can display a categorised summary of expenses such as groceries, utilities and shopping at the end of the month. This helps to identify areas where a user might be overspending. 'There have been many instances where people come to us and say that because of UPI payments, they no longer keep track of their expenses," Nataraj pointed out. 'The spend analytics feature solves this problem by categorising your payments and providing insights into where your money is going." This feature does not track card payments, cash spends, or payments made via other UPI apps such as PhonePe and Google Pay. Users cannot create custom categories. Transactions completed through the BHIM app will appear in the spend analytics report. In April, BHIM introduced the UPI Circle feature, which allows individuals to perform UPI transactions on behalf of someone else. This is especially useful for elderly parents who are the primary users of BHIM but not comfortable handling mobile apps. They can add trusted individuals as their secondary users and give them partial delegation to carry out transactions within certain limits and without needing to ask for real-time approvals every time. For example, parents can delegate utility bill payments to their daughter. She can initiate and complete these transactions directly from the BHIM app without needing them to approve each payment separately. However, the overall control remains with the parents, who can set transaction limits, monitor all payments in real time, and revoke access any time. This makes it extremely convenient for families where elderly parents want help managing payments but also want to retain oversight and security. Both the primary and secondary users must be registered BHIM users, and delegation settings, such as daily transaction limits, must be configured when setting up UPI Circle. Partial delegation allows secondary users to make payments independently within agreed boundaries. '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," Nataraj said. BHIM is evolving from a simple UPI payments app to a complete digital money management tool – whether it's tracking your personal budget, helping your family manage bills, or securely assisting elderly parents with digital payments. The BHIM's updates reflect an understanding of the needs of modern users. However, users must follow the required conditions and remain aware of the limitations to get the best experience. As India continues its journey towards a cashless economy, innovations like these position BHIM as a key pillar of the country's digital future.
