UPI Circle: A New Era in Digital Payments by NPCI
Understanding UPI Circle and Its Benefits
The National Payments Corporation of India (NPCI) has unveiled a groundbreaking feature called UPI Circle, aimed at expanding digital payment accessibility. This innovative addition to the Unified Payments Interface (UPI) system allows primary account holders to include family members and friends as secondary users, *granting* them the ability to conduct transactions within specified limits using the primary user's bank account.
Challenges Addressed by UPI Circle
UPI Circle is particularly beneficial for individuals without personal bank accounts or those hesitant about digital transactions. Financial inclusion is being prioritized with this feature, as it supports users in engaging with digital payments more comfortably.
How UPI Circle Enhances Financial Inclusion
With UPI Circle, NPCI is revolutionizing the way people interact with digital payments. By enabling family and friends to participate in transactions, the feature promotes greater engagement in the digital economy and helps overcome barriers experienced by those previously excluded.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.