PhonePe Launches UPI Circle for Secure Group Payments

In a significant move towards enhancing digital payment experiences, PhonePe has introduced the UPI Circle feature. This innovative addition allows users to manage and authorize payments for trusted individuals, even if they don’t have a linked bank account. Whether it’s assisting family members, friends, or dependents, UPI Circle streamlines the process, ensuring secure and controlled transactions.

🔍 What is UPI Circle?

UPI Circle is a feature that enables a primary user to create a circle of secondary users, granting them the ability to make UPI payments without needing their own bank account. The primary user maintains full control, overseeing transactions, setting limits, and ensuring security.

👥 Key Features of UPI Circle

• Delegated Payments: Secondary users can initiate payments using their own UPI IDs, linked to the primary user’s bank account.
• Controlled Access: Primary users can set transaction limits and approve or reject payment requests.
• Transaction Monitoring: Detailed records of all transactions within the circle are accessible to the primary user.
• Flexible Management: Add or remove secondary users as needed, ensuring dynamic control over your circe.

🛠️ How to Set Up UPI Circle on PhonePe

1. Open PhonePe App: Navigate to the home screen.
2. Enable UPI Circle: Tap on the UPI Circle option.
3. Add Secondary Users: Invite trusted individuals by entering their UPI ID or scanning their QR code.
4. Set Permissions: Define transaction limits and approval settings for each secondary user.
5. Manage Your Circle: Monitor transactions, adjust settings, and manage users as needed.

📸 Visual Guide

Image Source: PhonePe Press Release¹

📌 Use Cases for UPI Circle

• Family Support: Assist elderly parents or young children in making digital payments without exposing them to complex banking procedures .
• Shared Expenses: Manage household or group expenses by delegating payment responsibilities to trusted members.
• Business Delegation: Allow employees or team members to handle specific transactions under your supervision.

🔐 Security and Cotrol

PhonePe ensures that UPI Circle operates with robust security measures:

• Two-Factor Authentication: Enhances security for all transactions.
• Real-Time Notifications: Keeps you informed about every transaction within your circle.
• Easy Revocation: Quickly remove any secondary user if needed.

📈 Impact on Digital Paments

The introduction of UPI Circle is posed to:

• Increase Financial Inclusion: By allowing individuals without bank accounts to participate in digital transactions.
• Simplify Payment Processes: Reducing the complexity of managing shared expenses.
• Enhance Security: Providing controlled access to your bank account for trusted individuals.

🔗 Learn More

• PhonePe Press Release on UPI Circle
• Economic Times: PhonePe Enables UPI Circle Feature
• NPCI: UPI Circle Product Overview

🛡️ Family Safety and Financial Security Matters

While features like PhonePe’s UPI Circle help secure your digital transactions, protecting your family’s future is equally crucial. If you’re looking for ways to safeguard your loved ones financially, don’t miss our in-depth guide on How to Choose the Best Term Insurance Plan in India.

Empower your family with both digital and financial security.