Users can provide trusted contacts (secondary users) permission to make payments from their primary user's UPI account by utilizing PhonePe's UPI Circle feature. This makes it easier for people who do not have a bank account connected to a UPI app to access digital payments and streamlines shared spending.
How UPI Circle Operates:
1. Enable UPI Circle: The PhonePe app's UPI Circle feature is enabled by the principal user.
2. Invite Secondary Users: By sharing their UPI ID or scanning their QR code, the primary user adds reliable contacts (secondary users).
3. Acceptance: In order to join the UPI Circle, the secondary user must accept an invitation.
4. Payment Authorization: After being added, the secondary user can start transactions on the primary user's behalf and choose their account as a payment option.
5. Control and Limits: By monitoring expenditure, approving payment requests, and establishing spending caps for every secondary user, the primary user maintains control. At any point, they can also take away a secondary user's access.
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The advantages of UPI Circle
- Convenience: Makes payments easier for friends, family, or other reliable people.
- Financial Inclusion: Increases access to digital payments for people without bank accounts.
- Control: The main user still has complete authority over all purchases and transactions.
- Secure Transactions: The ability to withdraw access at any moment and secure access to comprehensive payment records.
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