upi circle

upi circle, launched by NPCI on the BHIM app, enables delegated payments with security and oversight, expanding financial inclusion. Primary users can authorize secondary users to make transactions within set limits, benefiting those lacking digital literacy or bank accounts. This structured approach reduces cash reliance and increases transparency for families and businesses.

The BHIM app introduces upi circle, enabling users to delegate payment access to trusted contacts. This feature supports various use cases, including assistance for senior citizens, controlled spending for young adults, and secure delegation for small businesses. Primary users maintain oversight through real-time notifications and transaction approvals, enhancing financial inclusion and security.

India is projected to become an $8 trillion economy by 2035, fueled by its digital transformation and infrastructure like Aadhaar and UPI. However, challenges such as income disparity, low formalization, and productivity gaps need addressing.

The National Payments Corporation of India introduced the upi circle-Delegate Payments feature, enabling primary UPI account holders to delegate transaction rights to secondary users. This feature aims to enhance digital payment usability, particularly for families, joint account holders, and small businesses. It allows flexibility and security by offering options for partial or full delegation of payment responsibilities.

Google Pay introduced six new features at the Global Fintech Fest 2024, aimed at improving digital payment experiences in India. Key features include Tap & Pay with RuPay Cards, ClickPay QR for bill payments, Autopay for UPI Lite, upi circle for delegated payments, UPI Vouchers, and Prepaid Utilities Payment, simplifying digital transactions.

LocalCircles' survey indicates that 75% of UPI users would stop using the service if transaction fees were introduced. The survey highlights UPI's rapid growth, with transactions surpassing 100 billion in the 2023-24 fiscal year. LocalCircles plans to bring these concerns to the Ministry of Finance and RBI for consideration.

75% of UPI users won't make payments if a transaction fee is charged. 37% have experienced a fee. RBI proposed charges, but finance ministry clarified no charges. 50% of UPI users make over 10 transactions monthly. UPI transaction value and volume increased in January.

Postmaster General, Hyderabad Region, Telangana Circle, PVS Reddy on Wednesday launched the ‘customer friendly India Post parcel services’ across Telangana, at Jangaon head post office on Wednesday.

While on one hand, NPCI is on mission mode to take India towards a less-cash society, on the other, it has to manage the multiple stakeholders of the entire process.

A man selling ghughra from his cart was arrested on Wednesday for allegedly betting on the India-South Africa one day international match.

The Maharashtra State Electricity Distribution Company Limited (MSEDCL), Aurangabad circle, has discontin

A disparate group of Bengalureans on Tuesday took it upon themselves to financially help Gopi K, the auto driver who promptly returned Rs 10,000 to a passenger, who had by mistake transferred the amount to his account.

The government has written to the Indian Banks’ Association (IBA), asking lenders to rework their charges for customers in a manner that incentivises digital transactions over cash transactions.

Microsoft has joined the government's open network for digital commerce (ONDC). The software giant plans to launch a shopping app for the Indian consumers, along with their social circle, harnessing the ONDC network to discover the best pricing among retailers and sellers.

The customers can also avail similar parcel booking services at 5,120 Post Offices in Hyderabad region, through QR Code scan based UPI payment channel.