UPI New Feature: Nowadays, everyone transacts digitally. If you use UPI for digital transactions, this news could be very important for you. Given the growing reach of digital payments, a UPI Circle has been launched on the BHIM app. This UPI is not a payment tool; rather, it acts as a digital wallet for sharing with family. The most significant feature of this feature is that elderly parents, children, or family members who do not have their own bank accounts will now be able to make digital payments through this feature.
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Learn about the UPI Circle feature
This feature, launched by BHIM Services Limited, a subsidiary of NPCI, allows UPI users to share this feature with their family members. This allows them to grant permission to make payments from their UPI accounts. The primary purpose of this feature is to assist these individuals. Those who were unable to take advantage of digital payments due to a lack of a bank account will now be able to connect with every member of the family.
How the feature works
For information, this feature allows the primary user to set monthly expenses for all members linked to their account. The maximum limit is set at 15,000. Once this setting is activated, family members will be able to make payments easily. This permission will be valid for 5 years. Only the primary member can remove this limit. Individuals will also have the authority to change the limit or disable access. The primary user will receive information about every transaction, ensuring complete security.
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This UPI feature will prove to be very useful for people. This will be especially helpful for elderly people who are unable to fully use UPI and make payments for small needs. This will also eliminate any risk.
