Google Pay Launches UPI Circle: Simplify Digital Payments for Family and Employees
Google Pay's UPI Circle feature streamlines digital payments by allowing one person to manage money transfers to up to five others without needing their bank account information. Ideal for families, guardians, or employers, this tool offers flexible spending limits or requires permission for each transaction.
Highlights
- •* UPI Circle enables primary users like parents/employers to give money securely to their dependents/employees
- •* Allows setting spending caps of up to Rs 15,000 per month or approving payments individually
- •* Users can add up to five secondary individuals for simplicity
- •* Requires a linked bank account and basic identification from secondary users
Google Pay has introduced a new feature called 'UPI Circle' to make digital payments more convenient. This innovative option allows the primary user, such as a parent or employer, to provide pocket money or facilitate transactions without needing direct access to the secondary user's bank account.
In this setup, one individual acts as the primary user who controls the payment processing from their bank account. The other involved party is referred to as the secondary user, who can make payments using a simple and secure method. Here's how it works: The primary user can add up to five secondary users on their Google Pay app.
Who Can Benefit?
This feature caters to various groups such as parents wanting to give allowances to children, employers providing salaries, or even guardians sharing funds with elderly dependents. Each secondary user receives a limited amount that can be spent without requiring authorization from the primary user. Options include setting monthly spending limits or requesting permission for each transaction.
To initiate this system, the primary user needs an active bank account linked to their Google Pay profile. Secondary users need to have Google Pay installed on their devices and provide a phone number saved in the contacts list of the primary user. Additionally, they must own or access a UPI ID or QR code for swift transactions.
Upon adding a secondary user, the primary can set up spending limits or authorization methods. The highest limit allows Rs 15,000 per month. This method ensures full control over disbursements and enhances security by requiring permission for large or frequent transactions. Setting these parameters is straightforward through the Google Pay app profile settings.
The introduction of UPI Circle marks a shift towards more flexible and convenient payment solutions, reducing the need to share financial details and enhancing privacy. It simplifies the process for both individuals involved, making routine transactions faster and smoother.
