Global Fintech Fest 2024: RBI Governor Launches UPI Circle, Bharat BillPay For Business

Global Fintech Fest 2024: RBI Governor Launches UPI Circle, Bharat BillPay For Business

SUMMARY

While UPI Circle allows users to delegate payments to trusted secondary users, BBPS for Business enables companies to automate various invoice payment processes

The NPCI said that the new payment solutions will look to enhance inclusivity, security, and efficiency of India’s digital payment ecosystem

Fintech startup EnKash and neobank OPEN announced partnership with the NPCI to launch B2B invoice payments on the BBPS for Business platform

Reserve Bank of India (RBI) governor Shaktikanta Das on Wednesday (August 28) announced the launch of two new fintech products on the first day of the Global Fintech Festival 2024.

UPI Circle and Bharat BillPay for Business (BBPS) are the new two offerings. While the former allows UPI users to delegate payments either in full or partial to trusted secondary users, the latter enables companies to automate various invoice payment processes.

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