Amazon Pay has unveiled several innovations at the Global Fintech Festival 2025, including the UPI Circle, which allows instant UPI payments to be made by family members. This feature enables primary UPI account holders to securely add family members and trusted contacts with preset spending limits. Each member receives a unique UPI ID or QR code but does not require a bank account, utilizing fixed fund amounts approved by the primary account holder. All transactions are PIN-less and include additional biometric authentication for enhanced security. The primary user has full control over the process, including monitoring payment requests, setting spending limits, tracking expenses, and accessing detailed records.
In collaboration with NPCI, Amazon Pay is expanding its payment ecosystem to include trusted smart devices beyond smartphones, allowing secure payments through smartwatches and other wearables. This development features advanced biometric authentication, device-level encryption, and real-time fraud detection, enabling users to perform quick tap-and-go payments, receive instant transaction alerts, and manage family payments across multiple devices while ensuring bank-grade security. Girish Krishnan, Director Payments & Merchant Services at Amazon Pay India, stated that UPI Circle represents a major advancement in inclusive digital payments, addressing the need for families to conduct secure and convenient transactions. He emphasized that the integration of various trusted smart devices for payments pushes towards their vision of seamless commerce.
The UPI Circle also offers flexible payment options with one-time and recurring approvals, catering to diverse family requirements. It supports various payment scenarios, including sending money, in-store transactions, online payments, and shopping on Amazon.in, with plans to expand to bill payments and subscriptions in the future. This service particularly targets digitally-savvy household managers aged 30-50 and tech-savvy teens aged 13-17 who lack their own banking access. Additionally, UPI Circle extends Amazon Pay’s rewards to all family members, allowing them to earn personalized shopping rewards with each transaction. By reaching monthly transaction milestones, users can also qualify for a 5% assured cashback on various shopping and payment categories, making it a highly rewarding option for families.
The new feature aligns with Amazon Pay’s mission to simplify and personalize payment processes while supporting NPCI’s goal of increasing digital payment adoption across India. Users benefit from secure transactions, cashback rewards, and comprehensive visibility of family expenses.