UPI Circle : UPI payments now possible without a bank account; Google Pay’s new pocket money feature has been launched

• Accountless UPI revolution
• Complete control in the hands of parents
• Secure and easy KYC

Google Pay UPI Circle pocket money : In the era of Digital India, we all forget our wallets now, because mobiles have UPI. However, till now it was mandatory to have a bank account to make UPI payments. Due to this, children, students or elderly members of the household who do not have their own bank accounts, have to stay away from digital transactions. But now Google Pay (Google Pay) have overcome this problem. Google Pay has launched a revolutionary feature called ‘UPI Circle Pocket Money’, which will now enable secure payments even without a bank account.

What is ‘UPI Circle’ and how does it work?

This new feature of Google Pay mainly works on two levels. It has a ‘Primary User’ and another ‘Secondary User’. A person who owns a bank account and allows another to make payments is a primary user. So a person who does not have his own account but spends money from the primary user’s account becomes a secondary user. Simply put, parents can link their accounts to their kids’ Google Pay, so kids can use digital ‘pocket money’.

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Parents’ ‘Watch’ on Pocket Money

Security has been given priority while launching this feature. Are parents worried that putting digital money in the hands of kids will make them overspend? But in UPI circle the primary user has complete control. You can set a monthly limit of up to Rs 15,000 for your children or friends. Not only this, when your son or daughter makes a payment somewhere, you will get a notification on your phone. The transaction will not be completed until you ‘Approve’ it. This will avoid wastage of money and also maintain security.

Add up to five people and be stress free!

Under this facility of Google Pay you can add maximum 5 secondary users to your one account. For this you have to go to ‘UPI Circle’ option in Google Pay app. The number of the person to be connected must be saved in your phone. Most importantly, identity verification of the secondary user is mandatory as per Reserve Bank regulations (KYC Directions, 2016). For this they have to provide their Aadhaar card or other government ID number. This will make it easy to keep track of every transaction.

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Who is this feature most beneficial for?

This feature is a boon for families where children stay away for education or elderly parents who find it difficult to make digital payments. Now parents don’t need to give cash every time to children. Children can pay by scanning a QR code from their mobile, which will be deducted from the parent’s account. It is not only convenient but also the need of the day. It goes without saying that this step of Google Pay has started a new chapter of digital revolution in India.