Missed what happened across fintech recently? Don’t worry, we have got you covered. With EnFin, we bring together the key movements, decisions, and updates shaping the sector. Catch up on everything in one place.
BHIM introduces UPI Circle Full Delegation
BHIM has launched UPI Circle Full Delegation, allowing a primary user to authorise trusted contacts such as senior citizens, children, or staff to make UPI payments on their behalf. These delegated users can make payments up to ₹15,000 per month without needing their own bank-linked UPI IDs.
Originally posted by The Economic Times
India opens cross-border payments for fintechs under PA-CB licence
India’s new PA-CB licence is giving fintechs the ability to process cross-border payments for exporters and SMEs. The move reduces dependency on banks and SWIFT, creating a path for faster, more digital, and lower-cost trade transactions.
Originally posted by LiveMint
BHIM to add credit cards and new features
NPCI BHIM Services is preparing to introduce value-added features on the BHIM app, starting with credit card distribution in the next two to three months. BHIM’s usage has seen strong growth, rising from 38.9 million transactions in January to 135.9 million in October 2025.
Originally posted by Financial Express
India–Europe moves closer to real-time payments through UPI–TIPS link
RBI and the European Central Bank have begun work on linking UPI with Europe’s TIPS system. Once fully implemented, the connection will enable instant, low-cost payments and smoother remittances between India and Euro-area countries.
Originally posted by ET Edge Insights
RBI to update credit scores weekly from April 2026
The Reserve Bank of India has released draft rules requiring credit bureaus to update consumer credit scores every week starting April 2026. This will replace the current fortnightly cycle and will allow borrowers to see quicker improvements after repayments or account closures.
Originally posted by LiveMint
NPCI Bharat BillPay plans net-banking upgrade for 1 billion monthly transactions
NPCI Bharat BillPay is upgrading its net-banking platform with the goal of scaling it from 260 million to nearly 1 billion transactions a month over the coming years. The new system will simplify online payments by directing users through secure bank or QR-based routes.
Originally posted by The New Indian Express
Peru moves toward its own UPI-style payment system
Peru’s central bank has partnered with NPCI International to build a real-time payments platform modeled on India’s UPI. The initiative aims to increase digital transactions, support financial inclusion, and reduce dependence on cash across the country. The project is expected to especially benefit unbanked and underbanked users by offering fast, low-cost, and interoperable payments.
Originally posted by CNBC TV18
Expectations of a higher UPI subsidy in Budget 2026
Payment facilitators are preparing to seek a higher UPI subsidy allocation in Budget 2026. The current budgeted amount of around ₹427 crore is considered inadequate compared to operational costs borne by the industry. Stakeholders may also propose a small MDR on large merchants to improve sustainability for payment service providers.
Originally posted by The Economic Times
NPCI expands RuPay credit card usage through UPI QR
The National Payments Corporation of India is working on increasing the acceptance of RuPay credit cards through UPI QR codes. This step may shift a portion of spending from traditional card networks to QR-based flows. The development positions fintechs to benefit from increased transaction volumes, lower onboarding friction, and a more unified payments ecosystem.
Originally posted by The Hindu BusinessLine
Stricter oversight for UPI third-party apps
NPCI has tightened its scrutiny of third-party UPI applications, especially new fintech entrants. The enhanced checks now include investor background, ownership structure, data handling practices, and long-term business viability. The objective is to strengthen governance and maintain stability across the UPI ecosystem as participation grows.
Originally posted by The Economic Times
BFSI firms to adopt the 1600 number series by early 2026
TRAI has directed that all BFSI entities move their official customer communication to the 1600 calling series by early 2026. This change is intended to reduce fraud, prevent spoofing, and improve caller authentication so customers can better trust financial communication.
Originally posted by Business Standard
RBI approves UPI wallet access for minors
The Reserve Bank of India has granted in-principle approval to Junio Payments to introduce a UPI-enabled prepaid wallet designed for children who do not have bank accounts. The wallet will allow minors to pay via UPI QR codes, while parents can control loading, spending limits, and activity monitoring. Junio, which already has more than two million young users, is also planning to add rewards, vouchers, and transit payments to the wallet.
Originally posted by Moneycontrol
India and Bahrain roll out instant cross-border UPI transfers
NPCI International has partnered with Bahrain’s BENEFIT to integrate UPI with the Fawri+ real-time payments network. Users in both countries will now be able to send money instantly, improving speed, reducing transfer costs, and streamlining remittances for Bahrain’s large Indian population. The integration also strengthens digital payments connectivity between the two countries.
Originally posted by The Economic Times
Concerns rise over UPI market concentration
PhonePe and Google Pay now account for over 80 percent of UPI transactions, leading to concerns about systemic risk in the ecosystem. Market concentration, driven by zero MDR and widespread discounting, has limited the growth of smaller players. Experts suggest measures such as incentive caps and data portability to maintain competitiveness and reduce long-term systemic risk.
Originally posted by The Economic Times
India’s October inflation declines to 0.25 percent
India’s retail inflation dropped to 0.25 percent in October 2025, in line with the Reserve Bank of India’s expectations. The decline was primarily driven by a significant reduction in food prices. The trend has strengthened market expectations of a potential rate cut during the December policy review.
Originally posted by CNBC
UPI crosses 20.7 billion transactions in October
UPI recorded 20.7 billion transactions in October 2025, according to NPCI data. The total transaction value touched ₹27.28 lakh crore. This marks annual growth of 25 percent in volume and 16 percent in value, highlighting the continued expansion of digital payments across India.
Originally posted by The Economic Times
NPCI alerts users about “digital arrest” scam attempts
NPCI has issued a public advisory warning users about rising cases of “digital arrest” scams. Fraudsters are posing as police or government officials and pressuring people to transfer money using UPI links. Users are encouraged to verify identities, reject urgent payment requests, and report incidents to cybercrime authorities.
Originally posted by Zee Biz
Merchants see unexpected charges on UPI credit transactions
Merchants have reported small deductions on UPI transactions made using credit accounts, despite government directions mandating zero charges. These unexpected debits are creating friction for businesses and raising questions around clarity of fee structures as India’s digital payments adoption continues to grow.
Originally posted by The Economic Times
RBI updates nomination rules for bank accounts and lockers
The Reserve Bank of India has released revised guidelines requiring all banks to ensure that new and existing savings accounts, fixed deposits, lockers, and safe custody items have valid nominee details. The updated framework is designed to ease claim settlements for families and reduce operational delays after the death of a customer.
Originally posted by CNBC TV18
That concludes this month’s EnFin edition. Fintech continues to evolve through regulatory changes, innovation, and movement across the digital finance landscape. The pace is only increasing, and we will keep tracking it through EnFin.
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