Currently, the Unified Payments Interface (UPI) is operational in seven countries: France, the UAE, Singapore, Bhutan, Sri Lanka, Mauritius, and Nepal. The National Payments Corporation of India (NPCI), which oversees the UPI and RuPay services, is now in discussions with 10 additional countries to expand its digital payment footprint across the globe.

Dilip Asbe, the Managing Director and CEO of NPCI, shared these updates during his address at the 11th SBI Banking & Economics Conclave. He mentioned that while UPI has made significant strides internationally, the work is far from complete. “For UPI, we’ve signed agreements with three countries, but the implementation may take a few more weeks,” Asbe explained. He further added that commercial agreements have already been signed with Namibia, Trinidad and Tobago, and Peru, signaling growing interest from international markets in adopting India’s payment infrastructure. “There’s much work left in terms of globalizing the UPI and RuPay stack,” Asbe continued. “At this point, five to six countries have officially signed up, and another 10 countries are in active discussions with us.”

Asbe emphasized the challenges involved in expanding UPI and RuPay globally, particularly in terms of technical infrastructure, regulatory alignment, and market adoption. Nevertheless, he expressed optimism about the future and the potential to scale UPI and RuPay across multiple regions.

Since its launch in 2016, UPI has drastically improved its performance, especially in terms of transaction success rates. Asbe highlighted the significant reduction in transaction failure rates over the years, underscoring the robustness of the platform. “The technical decline rates have reduced to 0.7-0.8% from a high of 8-10% in 2016,” he said. This improvement has been crucial to maintaining UPI’s reliability and supporting its rapid growth in India and abroad.

In terms of adoption and transaction volumes, UPI has seen impressive growth. According to the latest data from NPCI, the average daily transaction count exceeded 500 million in September 2024, marking a significant jump from 483 million in August 2024. The total value of transactions processed by UPI in September reached an astounding Rs 20.64 lakh crore, with 15.04 billion transactions being processed that month. This rapid growth is a clear indication of UPI’s increasing role in India’s digital economy, as over 400 million people in the country now rely on UPI for real-time payments.

Looking ahead, Asbe also spoke about the evolving nature of the payment ecosystem in India, with a particular focus on UPI Lite. UPI Lite is designed to handle small-value transactions without the need for a UPI PIN, making it easier for users to make quick, low-cost payments. Asbe stated that the industry is actively working towards migrating low-ticket transactions to UPI Lite. “The strategy is to move small payments to UPI Lite as time passes,” he said. This initiative is aligned with the growing need for efficient payment solutions that cater to everyday, low-value transactions.

The Reserve Bank of India (RBI) has also supported this shift by raising the limits for UPI Lite wallets. In October 2024, the RBI doubled the per-transaction cap for UPI Lite from Rs 500 to Rs 1,000 and increased the overall wallet limit from Rs 2,000 to Rs 5,000. These changes are expected to further boost the adoption of UPI Lite, making it a convenient option for users looking to make small transactions seamlessly and securely.

NPCI’s continued efforts to expand UPI and RuPay internationally and enhance the domestic payment ecosystem reflect its ambition to make India a global leader in digital payments. By scaling these platforms to new markets and innovating solutions for small payments, NPCI aims to support both financial inclusion and global economic connectivity.

Yes Bank has partnered with Vegapay, a leading technology provider in banking software, to launch a hyper-configurable platform called Credit Line on UPI, according to a press release by Vegapay. This platform enables Yes Bank to create tailored credit programs to meet diverse customer needs. Through the platform, the bank can decide whether to offer interest-free or interest-bearing credit, allow installment payments (EMIs), and establish rules for different scenarios using an intuitive interface.

The solution includes a customizable app and a user-friendly dashboard, simplifying integration with existing banking systems. Rajan Pental, Executive Director of Yes Bank, commented on the initiative, stating, “UPI has transformed digital payments in India, but there is still a gap in providing formal credit access to a broader audience. Yes Bank processes one in every three digital payment transactions in India, reinforcing its leadership in the UPI ecosystem. With Credit Line on UPI, we aim to bridge this gap and enable a credit-driven future for millions of Indians. Our partnership with Vegapay provides us with a robust platform that meets security and compliance standards while delivering seamless credit solutions.”

The collaboration seeks to redefine credit access in India, empowering banks to deliver modern credit experiences to millions of customers.

UPI has become the backbone of India’s digital payments ecosystem, with over 350 million active users and more than 14 billion monthly transactions. Despite this growth, formal credit access remains limited, with only 15-20% of users owning credit cards. As UPI transactions are projected to grow at an annual rate of 57% through FY 2024, the market for UPI-linked credit products is expected to exceed $50 billion by 2025.

By leveraging UPI’s extensive reach, the partnership between Yes Bank and Vegapay aims to address this gap, offering flexible and accessible credit solutions. Nalin Bansal, Chief of Fintechs, Corporates, and Key Initiatives at NPCI, praised the collaboration, highlighting Vegapay’s swift execution and technological innovation. He stated, “Vegapay’s Credit Line on UPI platform, launched through the NPCI Partner Program, sets a benchmark for the industry. This seamless partnership between Yes Bank and Vegapay will drive financial inclusion and enhance the credit experience for both existing and new banking customers.”

The move underscores a growing trend among leading banks like Yes Bank to explore UPI-linked credit offerings, responding to the rising demand for flexible, modern financial solutions.

Indian travelers now have access to a revolutionary cashless payment solution abroad with the launch of Paytm’s Unified Payments Interface (UPI) International service. One97 Communications Limited (OCL), the parent company of Paytm, has introduced this innovative feature to make international transactions smoother and more convenient for Indian users.

With UPI International, Indian users can make seamless payments at various international locations without the need for foreign exchange or carrying physical cash. The service currently supports payments in countries such as the UAE, France, Singapore, Mauritius, Bhutan, and Nepal, where UPI is accepted by merchants. This development is particularly beneficial for Indian tourists, students, and business travelers, providing them with a hassle-free and secure way to pay for goods and services abroad.

This feature aligns with the global expansion of UPI, which has gained recognition as a fast, reliable, and secure digital payment system. By integrating UPI with international merchants, Paytm is not only simplifying payments for its users but also contributing to the broader adoption of Indian digital payment technologies on a global scale. The move highlights India’s leadership in the digital payments landscape and its ambition to promote indigenous financial technologies worldwide.

The UPI International feature also includes enhanced security protocols to ensure safe transactions, offering Indian users peace of mind while making payments in foreign countries. Paytm’s user-friendly interface and widespread adoption within India make it easier for users to transition to using UPI internationally, bridging the gap between domestic and global payment ecosystems.

This launch is a significant step towards achieving a truly global cashless economy, reflecting the growing acceptance of digital payments worldwide. Paytm’s commitment to innovation and its focus on providing convenience to its users continues to redefine the way payments are made, whether at home or abroad.

UPI (Unified Payments Interface) enables transactions to be processed instantly at any time of the day or night. This 24/7 availability includes weekends, public holidays, and even during non-banking hours, a significant departure from traditional banking methods where transactions may be limited to business hours or take longer to process, especially on holidays.

This round-the-clock accessibility has transformed the way people and businesses handle financial transactions. For example:

• Convenience for Users: Customers can send or receive money whenever they want, without waiting for the next business day, which is particularly useful in emergencies or urgent payment situations.
• Business Operations: Businesses, especially e-commerce platforms and small vendors, can receive payments instantly, even during late hours or holidays. This smoothens cash flow and helps manage real-time financial needs.
• Reduced Dependency on Cash: Since UPI transactions don’t depend on bank operating hours, users are encouraged to rely less on cash, as digital payments are accessible at any time.

24/7 availability of UPI enhances the efficiency, accessibility, and flexibility of financial transactions, making it an integral part of India’s digital economy.

1. Breaking Down Traditional Banking Barriers:

• Traditional bank transfers, such as NEFT (National Electronic Funds Transfer) and RTGS (Real-Time Gross Settlement), used to operate only within specific banking hours and sometimes did not function on weekends or public holidays. UPI breaks this barrier by enabling anytime, instant transactions, which has modernized digital banking for the average consumer and business.

1. Enabling a Cashless Society:

• The 24/7 accessibility of UPI aligns well with the Indian government’s push toward a cashless economy. With no reliance on ATMs or banks’ physical locations, users are increasingly adopting digital payments over cash, even for small, everyday purchases, making it easier to reduce physical currency usage.

1. Supports Emergency Payments:

• UPI’s 24/7 functionality is especially valuable during emergencies, where users might need to transfer funds immediately, even at night or on holidays. For instance, during medical emergencies, people can quickly send money to hospitals or caregivers without the delay of traditional banking hours.

1. Enhancing Business Operations:

• For businesses, especially in sectors such as e-commerce and retail, UPI’s round-the-clock operation allows them to process orders and payments without delay. This facilitates quicker order fulfillment and enhances customer satisfaction as businesses can verify payments in real-time.
• Small businesses and local vendors benefit significantly since they can receive instant payments at any time, even after normal business hours, which helps with cash flow and operational flexibility.

1. Financial Inclusion for Rural and Remote Areas:

• People in rural areas, who may not have easy access to bank branches or ATMs, can use UPI for their financial needs whenever necessary. This has been instrumental in enhancing financial inclusion and offering digital banking access to people in remote regions who can now participate in the digital economy seamlessly.

1. Promoting Convenience and User Control:

• Users have the flexibility to make payments or send funds whenever they want, allowing them complete control over their financial activities. They can avoid the pressure of completing transactions within business hours, reducing stress and improving user satisfaction. This freedom has redefined convenience, as users can manage their finances on their schedule.

1. Encouraging Digital Literacy:

• With UPI’s round-the-clock availability, more people have adopted digital payment methods, which indirectly promotes digital literacy and familiarity with online financial services. This continuous accessibility means people, even first-time digital users, have ample opportunity to familiarize themselves with the system, leading to more extensive adoption and comfort with digital transactions.

1. Reducing Burden on Bank Staff and Infrastructure:

• Since UPI transactions are automated and processed instantly, it reduces the workload on bank staff who would otherwise have to manage more transactions manually during working hours. Additionally, it reduces dependency on physical banking infrastructure, as UPI transactions occur entirely within the digital environment.

1. Global Competitive Edge:

• India’s 24/7 UPI payment system gives it an edge globally by setting a precedent for efficient and accessible digital payments. This innovation has not only revolutionized the domestic economy but has also drawn attention internationally as an effective model for real-time, always-on financial systems.

UPI’s 24/7 transaction capability has proven to be a critical asset, supporting economic growth, reducing dependency on cash, and providing users with unparalleled convenience and accessibility. This transformative feature continues to drive financial inclusion and economic resilience across the country.

In September 2024, the National Payments Corporation of India (NPCI) introduced the UPI Circle feature, allowing users to add a secondary user to their bank account for making UPI payments. Now available to all users across India, UPI Circle offers flexibility in managing family or friends as authorized secondary users for UPI transactions. Here’s a step-by-step guide to setting up and using UPI Circle.

Setting Up UPI Circle in the BHIM App

Currently, UPI Circle is available only on the BHIM app, with plans to roll it out to Google Pay and other UPI-enabled apps soon. Both the primary account holder and secondary user need the BHIM app installed on their devices to use this feature.

Steps for Primary Account Holder:

1. Find UPI Circle: Open the BHIM app and look for the “UPI Circle” option.
2. Add Secondary User:
   • Select the Add Family or Friends button.
   • Enter the secondary user’s UPI address (or scan their QR code) and phone number for verification. The UPI address can be found in the secondary user’s BHIM app.
3. Choose Delegation Type:
   • Partial Delegation: The primary account holder manually approves each payment request from the secondary user.
   • Full Delegation: The secondary user can make payments up to Rs 15,000 per month without approval. You can adjust this limit if needed.
4. Set Up Payment Limits:
   • If using Full Delegation, enter the monthly limit for the secondary user, up to Rs 15,000.
   • Set an end date for the delegation duration.
5. Choose Bank Account:
   • Select the bank account for payments and tap Proceed to send an invitation to the secondary user.

Steps for Secondary User:

1. Accept Invitation: The secondary user will receive a notification to join the UPI Circle.
2. Review and Accept Terms: Check the Terms and Conditions and tap Accept to activate UPI Circle.

Making Payments with UPI Circle

Once UPI Circle is set up, the secondary user can make payments with ease:

1. Initiate Payment:
   • Scan a UPI QR code or select a contact in the BHIM app.
   • Choose the primary account holder’s bank account to proceed.
2. Complete Transaction:
   • If the secondary user has Full Delegation, the transaction completes instantly.
   • If under Partial Delegation, the primary account holder must manually approve the payment from their BHIM app.
3. Receiving Payments with UPI Circle
   • Currently, UPI Circle only allows secondary users to send money or make payments. If a secondary user needs to receive a payment, they can share the UPI address or QR code of the primary account holder.

Frequently Asked Questions (FAQs) About UPI Circle

• 1. Does the secondary user need a bank account?
• No, a bank account isn’t required for the secondary user. The primary account holder’s account will handle payments.
• 2. Can secondary users be under 18 years old?
• Yes, secondary users can be under 18, making this a great option for parents to add children for controlled UPI payments.
• 3. What happens when the Rs 15,000 limit is reached in Full Delegation?
• Once the limit is reached, no further payments can be made by the secondary user. The primary account holder can remove and re-add the secondary user to reset the limit at the start of a new month.
• 4. Is UPI Circle available on Google Pay or PhonePe?
• Currently, UPI Circle is only available on the BHIM app. Testing is underway for Google Pay, with future plans to expand.
• 5. Which banks support UPI Circle?
• All banks that support UPI payments are compatible with UPI Circle.
• 6. Is UPI Circle safe?
• Yes, UPI Circle is regulated by NPCI and RBI, ensuring the same level of security as standard UPI.
• 7. Can I switch between Full and Partial Delegation?
• To change between Full and Partial Delegation, you need to remove and re-add the secondary user as there’s no option to switch modes directly within the app.

With UPI Circle, managing transactions among trusted contacts becomes more convenient and controlled, providing an efficient way to handle shared or delegated payments securely.

In today’s digital landscape, the Unified Payments Interface (UPI) has become the preferred choice for quick and seamless transactions, especially when it comes to cashback rewards. Unlike traditional methods that require bank account numbers and IFSC codes, UPI apps enable instant transfers, often within seconds. While options like credit cards, debit cards, and net banking are still available, UPI’s rise can largely be attributed to its cashback incentives. With so many apps claiming to offer the best cashback, how do you find the right one? Here’s a list of the top 10 UPI apps offering cashback in 2024 to help you maximize your rewards.

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Top 10 UPI Apps for Cashback in 2024

App	Launch Year	Founder	Revenue	Total Downloads
PhonePe	2015	Sameer Nigam & Rahul Chari	INR 1646 Crores	Over 500 Million
Google Pay	2017	Google	INR 1467 Crores	Over 1 Billion
Paytm	2010	Vijay Shekhar Sharma	INR 7990 Crores	Over 500 Million
CRED	2018	Kunal Shah	INR 393 Crores	Over 10 Million
BHIM UPI	2016	NPCI	Not Applicable	Over 100 Million
Amazon Pay	2007	Amazon	INR 2000 Crores	Over 100 Million
MobiKwik	2009	Bipin Preet Singh	INR 560 Crores	Over 50 Million
FreeCharge	2010	Kunal Shah & Sandeep Tandon	INR 287 Crores	Over 10 Million
Payzapp	2015	HDFC Bank	N/A	Over 10 Million
JioPay	2016	Mukesh Ambani	N/A	Over 100 Million

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Understanding UPI Cashback

UPI cashback is a promotional reward provided on eligible transactions, effectively lowering the transaction cost. It comes in various forms, such as flat cashback, percentage-based cashback, or category-specific cashback. Rewards usually range from ₹5 to ₹200 depending on the type of transaction, amount, and offer.

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Detailed Overview of the Top 10 UPI Apps

1. PhonePe

• Features: Simplified interface, supports multiple bank accounts, automatic payments, and regular cashback rewards.
• Pros: Easy management of accounts, rewarding scratch cards, good customer support.
• Cons: Lacks secure login options, some transactions may get delayed.

2. Google Pay (GPay)

• Features: Strong security, easy online shopping, cashback rewards via digital scratch cards.
• Pros: User-friendly, enhanced security, regular cashback.
• Cons: Occasional delay in rewards.

3. Paytm

• Features: User-friendly, QR scanning for easy payments, diverse bill payment options.
• Pros: Multiple payment options, user rewards, extensive reach.
• Cons: Cluttered interface, room for improved design.

4. CRED

• Features: Cashback on credit card payments, expense tracking, timely reminders.
• Pros: Unique rewards system, focus on financial wellness.
• Cons: Limited to specific transactions.

5. BHIM UPI

• Features: Highly secure, supports Aadhaar integration, rewards for new users.
• Pros: Simple, government-backed, secure transactions.
• Cons: Limited features compared to private players.

6. Amazon Pay

• Features: Easy one-click purchases, Amazon Pay Later, and regular cashback.
• Pros: Convenient for Amazon users, fast payments, good rewards.
• Cons: Cashback mostly limited to Amazon transactions.

7. MobiKwik

• Features: Mobile wallet, bill payments, and Buy Now Pay Later (BNPL) options.
• Pros: Versatile payment options, middle-class focus.
• Cons: Cashback offers are inconsistent.

8. FreeCharge

• Features: Fast payments, bill reminders, mutual fund investments.
• Pros: Broad payment options, investment features.
• Cons: Limited reward options.

9. Payzapp

• Features: Supports online and offline payments, integrated with HDFC Bank.
• Pros: Rewarding with various cashback and loyalty points.
• Cons: Limited to HDFC users.

10. JioPay

• Features: Supports multiple payment modes, international transactions.
• Pros: Secure, fast, great for Jio users.
• Cons: Rewards primarily cater to Jio ecosystem.

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These UPI apps not only make transactions easier but also offer cashback and rewards to users. From daily expenses to large purchases, the right UPI app can help you save significantly. Consider the features and reward structures of each app to find one that aligns with your needs.

In the rapidly evolving landscape of digital payments, one innovation stands out for its simplicity and transformative potential: Unified Payments Interface (UPI) links. Introduced by the National Payments Corporation of India (NPCI) in 2016, UPI has revolutionized the way transactions are conducted in India. By enabling seamless and instant transfers between bank accounts using a mobile device, UPI has become a cornerstone of the country’s digital economy. This article delves into the rise of UPI links, their impact on digital transactions, and their potential to shape the future of payments.

The Genesis of UPI

Unified Payments Interface (UPI) was developed with the vision of creating a real-time payment system that could facilitate inter-bank transactions in a secure and user-friendly manner. Unlike traditional payment methods that relied on card details or bank account numbers, UPI introduced a unique approach where users could link multiple bank accounts to a single mobile application and use a virtual payment address (VPA) to send or receive money. This innovation eliminated the need to share sensitive financial information, making transactions more secure and convenient.

How UPI Links Work

A UPI link is essentially a URL that, when clicked, directs the user to a UPI-enabled application where they can authorize a transaction. Here’s a step-by-step overview of how UPI links work:

1. Generation of UPI Link: A merchant or individual generates a UPI link through their UPI-enabled app by entering the amount to be paid and other details.
2. Sharing the Link: The link can be shared via various channels such as SMS, email, social media, or even QR codes.
3. Customer Action: The recipient clicks on the link, which opens their UPI app and pre-fills the transaction details.
4. Authorization: The user authorizes the payment using their UPI PIN, and the transaction is completed instantly.

This seamless process has significantly simplified the payment experience, making it accessible to a broader audience.

Advantages of UPI Links

1. Convenience

UPI links eliminate the need for manual entry of payment details, reducing errors and saving time. Users can make payments with just a few taps on their smartphones.

2. Security

By using UPI links, sensitive information such as bank account numbers and IFSC codes remain confidential. Additionally, each transaction requires a UPI PIN, adding an extra layer of security.

3. Cost-Effective

For businesses, UPI links offer a low-cost alternative to traditional payment gateways, reducing the overhead costs associated with transaction fees.

4. Widespread Adoption

UPI links are supported by a vast network of banks and financial institutions, making them universally accessible across different platforms and devices.

Impact on Digital Transactions

1. Boosting E-Commerce

UPI links have been instrumental in driving the growth of e-commerce in India. With their integration into online shopping platforms, customers can make quick and secure payments, enhancing their overall shopping experience.

2. Facilitating Peer-to-Peer Payments

UPI links have made it easier for individuals to transfer money to friends and family. Whether it’s splitting a bill at a restaurant or sending a gift, UPI links offer a hassle-free solution.

3. Empowering Small Businesses

For small businesses and freelancers, UPI links provide a simple and efficient way to accept payments without the need for complex infrastructure. This has opened up new opportunities for entrepreneurs across the country.

4. Enabling Financial Inclusion

UPI has played a crucial role in bringing financial services to the unbanked and underbanked populations. By leveraging the ubiquity of mobile phones, UPI links have made digital transactions accessible to a larger segment of society.

Future Potential of UPI Links

The success of UPI links in India has set a precedent for other countries to follow. As digital payments continue to evolve, several trends and innovations could further enhance the potential of UPI links:

1. International Expansion

Efforts are underway to make UPI available for cross-border transactions, which could revolutionize international remittances and trade.

2. Integration with Emerging Technologies

The integration of UPI with emerging technologies such as blockchain and artificial intelligence could enhance security, efficiency, and user experience.

3. Personal Finance Management

UPI links could be leveraged for personal finance management tools, helping users track their spending, set budgets, and achieve their financial goals.

4. Expansion into New Sectors

Beyond e-commerce and peer-to-peer payments, UPI links could find applications in sectors such as education, healthcare, and government services, further driving digital adoption.

Conclusion

The rise of UPI links represents a significant milestone in the journey towards a cashless society. By offering a secure, convenient, and cost-effective payment solution, UPI links have unlocked new possibilities for businesses and consumers alike. As technology continues to advance and adoption rates soar, the potential of UPI links to transform the digital payments landscape is immense. Embracing this innovation will not only enhance economic growth but also pave the way for a more inclusive and digitally empowered future.

In response to the growing demand for cashless payment options among passengers, the Karnataka State Road Transport Corporation (KSRTC) has launched an initiative to integrate Unified Payments Interface (UPI) payments across its extensive bus network. This initiative aims to make daily commuting more convenient by reducing the dependency on cash transactions and addressing common issues related to exact change, which often lead to delays and misunderstandings between passengers and conductors.

To facilitate this transition to cashless ticketing, KSRTC has equipped over 10,000 of its buses with state-of-the-art Electronic Ticketing Machines (ETMs). These advanced ETMs support a wide range of payment methods, including UPI, debit, and credit card payments, creating a seamless and efficient payment experience for commuters. With KSRTC’s fleet of approximately 8,800 buses now armed with this technology, the ETMs are set to transform the ticketing experience by speeding up transactions and reducing cash handling onboard. Plans for further deployment are also in place, with more buses expected to be equipped following comprehensive training for conductors on the new system.

KSRTC Transport Minister Ramalinga Reddy shared his thoughts on the system’s advantages, emphasizing how it will streamline fare collection. “This system directly addresses the recurring issue of passengers needing exact change. Now, both passengers and conductors can experience greater convenience and smoother transactions. Payments can be made through UPI as well as through debit and credit cards, which makes the entire process quicker and more reliable,” he said. In addition, the ETMs will soon support the National Common Mobility Card and KSRTC-issued bus passes, which will further enhance passenger convenience. This feature is set to roll out within the next month, allowing passengers to validate their passes directly through the machines.

KSRTC’s Managing Director, V. Anbu Kumar, provided further insight into the technological advancements involved in the initiative. “We are upgrading our ticketing system with the introduction of 10,245 Android-based smart ETMs, which feature modern touchscreens, wireless connectivity, and faster processing speeds. These devices replace the traditional ETMs that we have relied on for nearly two decades, marking a major step forward in KSRTC’s commitment to modernization,” he explained.

In line with its vision to adopt cutting-edge technology, KSRTC recently piloted a dynamic QR payment system, which enables passengers to pay directly via a QR code on the ETMs. After a successful test, KSRTC now plans to roll out this QR-based payment feature across all smart ETMs by the end of the month, enabling even faster and more flexible payment options. With this move, KSRTC has become the first transport corporation in Karnataka — and one of the few in India — to integrate digital payment solutions on such a wide scale.

This extensive initiative is being carried out in collaboration with EbixCash Ltd., which has been contracted to implement an Intelligent Transport Management System (ITMS) for KSRTC. Under this five-year contract, EbixCash Ltd. will design, install, maintain, and operate the ITMS, providing KSRTC with integrated digital payment solutions and a comprehensive cashless ticketing system. The system will not only enhance operational efficiency but also improve the overall passenger experience, paving the way for smarter urban mobility in Karnataka.

As part of KSRTC’s long-term vision, the corporation aims to deploy an additional 15,000 devices over the next five years. This expansion plan will be implemented alongside EbixCash Ltd.’s ITMS framework, bringing KSRTC closer to its goal of a fully automated fare collection system. With these efforts, KSRTC is setting a new standard in public transportation by embracing technology and prioritizing passenger convenience, safety, and satisfaction.

Unified Payment Interface Circle: A New Way to Share UPI Access with Family and Friends

The Unified Payment Interface (UPI) has revolutionized how we handle digital transactions, offering a fast and seamless way to send and receive money. The new UPI Circle feature takes this convenience further, enabling users to share UPI access with others—even those who may not have a bank account linked to UPI. This feature is designed to allow a primary UPI user to delegate transaction capabilities to trusted individuals, such as family members or close friends, without compromising security or control over the account. The National Payments Corporation of India (NPCI) describes UPI Circle as a secure, innovative way to make UPI transactions easier for multiple users.

UPI Circle can be especially helpful for families with members who may not have their own bank accounts, such as senior citizens, children, or dependents. By setting up UPI Circle, a primary account holder can enable multiple people to conduct transactions from a single UPI-linked account, providing more flexibility and convenience.

Key Features of UPI Circle

1. Secondary User Access: Secondary users can make transactions from the primary user’s account with permissions, even if they don’t have a bank account linked to UPI. This is ideal for dependents or anyone in your circle who needs easy access to funds without setting up their own UPI account.
2. Limited Delegation: A primary user can assign transaction rights to up to five secondary users, while each secondary user can accept delegation from only one primary user. This keeps transactions secure and within trusted groups.
3. Transaction Controls: UPI Circle includes built-in options for setting transaction limits and approvals, so you can maintain control over spending and authorize every transaction if needed.
4. Flexible Payment Options: UPI Circle lets families with shared expenses or single-account setups make payments directly, simplifying money management within households.

Step-by-Step Guide to Setting Up UPI Circle

To begin using UPI Circle, follow these steps:

1. Open the BHIM App and Navigate to UPI Circle

• Open your BHIM UPI app, go to the “UPI Circle” section, and click on “Add Family or Friends.” You’ll be given two options to add users: either scan their QR code or manually enter their UPI ID.

1. Add ID of Secondary User

• After selecting “Add to My UPI Circle,” a new page will prompt you to enter the phone number of the individual you wish to add. This person must already be saved in your contacts; otherwise, they cannot be added. Enter their UPI ID and phone number to complete the addition.

1. Select the Type of Access

• You’ll have two options for access type:
  • Spend with Limits: Allows you to set a fixed transaction limit for the secondary user. They can make transactions within this limit without further approvals.
  • Approve Every Payment: Each transaction initiated by the secondary user will require approval from the primary user before processing. This is ideal for added control.
• Choose the access type based on your needs and click on “Proceed.”

1. Set Spending Limits (If Using “Spend with Limits”)

• If you’ve chosen “Spend with Limits,” you’ll need to define specific parameters:
  • Allowed Monthly Spends: Set the maximum amount the secondary user can spend each month.
  • Authorization End Date: Choose an end date for when this delegation will expire.
  • Bank Account for Deduction: Select the bank account from which funds will be debited for transactions.
• After confirming these details, click on “Proceed” and enter your UPI PIN to authorize the settings. The secondary user is now added to your UPI Circle and can transact according to the defined limits.

Important Things to Know About UPI Circle

To ensure a smooth and secure experience, here are a few key points to keep in mind when using UPI Circle:

• App Version Requirement: UPI Circle is available on the BHIM app version 3.8.1 and above. Ensure your app is up to date before trying to access this feature.
• UPI IDs and Contacts: To simplify the setup, make sure you have the UPI ID and contact information of anyone you wish to add to your UPI Circle handy. The person must also be saved in your contacts.
• Control Over Your Funds: Transactions will not occur until the secondary user completes a transaction, and you can monitor every transaction in real-time. This ensures that your money remains secure and under your control.
• Activation of Spending Limits: While full delegation limits activate after 30 minutes, the secondary user can still request approval for any urgent transactions from the primary user in the interim.
• Approval Notifications: The primary user will receive notifications for any required transaction approvals. These can be accessed through the “Approve to Pay” section or by tapping the bell icon on the app’s homepage.
• 24-Hour Cooling Period: When a new member is added to the UPI Circle, a 24-hour cooling period is activated. During this time, the secondary user’s transaction limit is capped at ₹5,000. After this period, they can transact up to the full limit set by the primary user.

Benefits of UPI Circle

UPI Circle brings several advantages for users looking to share account access in a safe, controlled way:

• Convenience for Families: It simplifies shared expenses, letting family members access a single account for payments without needing their own UPI-linked accounts.
• Greater Financial Inclusion: UPI Circle offers digital payment access to family members who may not have a bank account, like children or elderly parents, making transactions easy and inclusive.
• Enhanced Security: With controlled limits and approval options, the primary user retains full oversight of their funds while allowing others to conduct limited transactions.

By allowing you to share UPI access securely, UPI Circle represents a new level of flexibility and convenience in digital transactions. Whether for shared household expenses, assisting a family member, or simply enabling secure access to funds, UPI Circle makes financial management easier for users with shared financial needs.

Google Pay has introduced a revolutionary new UPI feature aimed at transforming digital transactions in India, allowing users to make payments without needing a bank account. Tailored specifically for the Indian market, this innovation is designed to make everyday payments more accessible and convenient, easing the process of sharing expenses or transferring money to family and friends. This feature marks a significant shift in India’s digital payments landscape, supporting millions of users, including those without access to traditional banking services, in joining the cashless economy.

At the heart of this update is the “UPI Circle” feature, which enables primary Google Pay account holders to authorize trusted family members or friends to make payments using the primary account, even if they don’t have their own bank account. This dual-user setup within a single UPI account offers both flexibility and enhanced convenience, making it possible for individuals without bank accounts to participate in digital payments. For instance, UPI Circle could be especially beneficial in households where only one person has a bank account, yet other family members need access to funds for essential transactions.

Security and control are core considerations in this new feature, and Google Pay has introduced two levels of account delegation for primary users: Partial Delegation and Full Delegation. These options provide account holders with customizable control over how secondary users access and use the funds in the UPI account.

1. Partial Delegation: This option is ideal for users who want to keep a close watch on all outgoing funds. In Partial Delegation, primary users can limit secondary users to “requesting payments” only, ensuring that all transactions require approval from the main account holder. This setting is perfect for scenarios where a primary user, such as a parent or guardian, wants to enable a young family member to make payments under supervision. It empowers secondary users to initiate payments but still gives the main account holder the final say, ensuring peace of mind for all parties involved.
2. Full Delegation: This option provides even more independence to secondary users while maintaining a controlled spending environment. In Full Delegation, primary users can set a monthly spending cap—capped at Rs 15,000—for secondary users. Once this cap is set, secondary users can make payments freely up to this amount without requiring further approval. This level of delegation is well-suited for families who wish to allocate a fixed amount for monthly expenses, such as groceries or school fees, and trust secondary users to manage these funds independently within the limit. It offers a practical way to empower family members while ensuring responsible usage within a set budget.

Complementing the UPI Circle feature, Google Pay has also introduced UPI Voucher (or eRUPI), adding another layer of convenience and accessibility. UPI Vouchers are prepaid, digital vouchers that can be linked to a mobile number and used for payments without a bank account. These vouchers are perfect for a variety of use cases, such as gifting funds to friends and family or enabling cashless transactions for individuals without direct bank access. Whether it’s a birthday gift, a one-time allowance, or a donation to a cause, eRUPI vouchers allow users to share funds easily, quickly, and securely.

eRUPI vouchers also have the potential to support small businesses or individuals who receive payments for goods or services. Recipients can use these prepaid vouchers as digital currency, bypassing the need for bank-linked digital payments. This feature not only broadens access but also aligns with India’s broader push toward financial inclusion, providing greater access to digital finance for those outside the formal banking system.

With these new UPI features, Google Pay has reimagined digital transactions in India, making payments easier, safer, and more inclusive. This update enhances the Google Pay experience, opening up new possibilities for users across the country and helping bridge gaps in financial access. By making transactions accessible to those without bank accounts and enhancing control for primary users, Google Pay is supporting financial inclusion while ensuring that the platform remains flexible, secure, and user-friendly.