UPI Circle launched to make UPI payment easier, transactions will be done without an account

Unified Payment Interface (UPI) has started a new era in digital payment. Through this, you can easily make payment from home. To give a good experience to UPI users, National Payments Corporation of India (NPCI) has launched the new feature of UPI.

Reserve Bank of India Governor Shaktikanta Das on Friday launched the UPI Circle feature at the Global Fintech Festival (GFF), 2024. While launching this feature, Shaktikanta Das said that through this feature, now two people can easily do UPI from one bank account. The introduction of this feature will increase digital payments.

Now NPCI has added ‘UPI Circle’ feature in UPI. In this feature, those users can also use UPI whose bank account is not linked to UPI. In this article, we will give you every information about UPI Circle.

What is UPI Circle?

UPI Circle is a feature in which users can make UPI payments even without a bank account. This feature will prove to be very beneficial for those users who do not use online banking.

For payment through UPI Circle, the user will only need mobile number and OTP. With this feature, family or friends will also get the facility of financial transactions.

How does UPI Circle work

There are primary users and secondary users in a UPI circle. The user who has a UPI ID is called the primary user, while those who are linked to the UPI circle are called secondary users. Secondary users can also easily avail the facility of UPI payment.

Understand it like this that the primary user gives the power to use UPI to the secondary user. He can easily make payments from the primary user’s account. The primary user gives permission to the secondary user whether he can make partial or full UPI payment or not.

Also Read: RBI imposed a huge fine on this bank, it was violating the rules, do you also have an account in it?

For example, if a father adds a son to his UPI ID under UPI Circle feature, then the father has the option to assign either partial or full payment to the son.

UPI Circle Benefit

• This will prove to be very beneficial for those who want to monitor digital transactions. If parents want to monitor their children’s UPI payment transactions, then this is possible through UPI Circle.
• It will be very easy to manage the bank account of the child or parents through UPI Circle. There will be no conflict in managing the account like UPI transactions.
• If someone is running a startup or a company, then through UPI Circle, one can make 5 lob bill payments from one account. Even the details of all payments will be kept in one place.

Disadvantage of UPI Circle

UPI Circle is as beneficial as it has disadvantages. Actually, in this feature, the secondary user is completely dependent on the primary user for UPI payment. Apart from this, before making any transaction, the secondary user will have to take permission from the primary user.

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