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Amazon Pay's UPI Circle Simplifies Family Payments; Fintech Festival Unveils Innovations

Amazon Pay's UPI Circle revolutionizes group finances. At the Global Fintech Festival, Navi UPI enhances security, PhonePe targets small merchants, and BharatPeX introduces AI-led services.

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In this picture we can see a close view of the identity card. In the front we can see american flag...
In this picture we can see a close view of the identity card. In the front we can see american flag and "Critical Licence" written.

Amazon Pay's UPI Circle Simplifies Family Payments; Fintech Festival Unveils Innovations

Amazon Pay has introduced UPI Circle, a unique feature allowing primary users to manage payments for family members and trusted contacts. Meanwhile, the fintech sector buzzed with activity at the Global Fintech Festival, where Navi UPI launched biometric authentication and PhonePe introduced SmartPOD. BharatPeX also made waves with its AI-led service, BharatPeX.AI.

Amazon Pay's UPI Circle enables multiple users to have their own UPI IDs or QR codes without needing separate bank accounts. This innovation allows primary users to oversee payments for family members, simplifying group finances.

At the Global Fintech Festival, FIS introduced UPI-based products focused on supporting family members and trusted contacts for payments. Navi UPI simplified user onboarding with biometric authentication, enhancing security and convenience. PhonePe, on the other hand, introduced SmartPOD, a soundbox integrating card payments with UPI solutions for small merchants.

BharatPeX, an online payment aggregator and gateway, launched BharatPeX.AI, providing 24/7 AI-led services and consistent guidance to clients. PhonePe also partnered with Utkarsh Small Finance Bank to introduce the Wish Credit Card, linked to a Fixed Deposit (FD) starting from INR 2,000.

Revolut, a digital bank, announced its India entry. It plans to onboard 2 crore customers by 2030, offering a prepaid wallet supporting UPI transactions and domestic/international VISA cards.

Amazon Pay's UPI Circle and similar innovations at the Global Fintech Festival are set to transform digital payments in India. These services aim to make transactions more convenient, secure, and accessible to a wider range of users, including those with limited banking access.

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