UPI Circle: UPI payments have become a part of our lives these days. But what if your elderly parents or young children could use your money for shopping without a bank account? NPCI’s new UPI Circle feature helps you do just that.
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UPI Circle: UPI (Unified Payments Interface) has become the most trusted and popular method of digital payment in India. Since its launch in 2016, it has seen numerous new features added, and now, a very interesting feature is UPI Circle. This feature allows people to make payments to others from their bank account.
In UPI Circle, the primary user, i.e., the person with a bank and UPI account, can create a circle. They can add friends, family, or trusted individuals to this circle. These individuals will then be able to make UPI payments directly from their account. This means that if your parents or children need to make a payment at a store, they can make the transaction directly from your account, without having to enter separate bank details.
This feature is currently available on major platforms like Paytm, Google Pay, and PhonePe. Previously, this feature was limited to the BHIM app, but now it has been made interoperable. This means that primary and secondary users can use this feature across different apps.
Who benefits the most?
- Elderly parents: No need to learn UPI, just use QR scan.
- Young children: Children’s pocket money will be kept under control and overspending will be prevented.
- Domestic help/driver: Weekly expenses will become easier.
- Freelancers/students: Digital payments can be made without a bank account.
This feature further strengthens trust and convenience between families and friends. It’s often seen that elderly people or children struggle with digital payments. Adding them to a Circle allows them to make payments easily and experience financial independence. The primary user also has the confidence that their loved ones are using their account securely.
Experts believe that UPI Circle will make digital payments more family-friendly and user-centric. However, this also comes with increased responsibility. The primary user must ensure that they only add trusted individuals to their Circle to avoid any fraudulent transactions or fraud.
