UPI Circle, Vouchers, and Tap & Pay Among Six New Features Aimed at Enhancing User Experience
At the Global Fintech Fest (GFF) 2024, Google Pay announced a suite of six new features designed to enhance the digital payment experience for its users. Among the most anticipated is the UPI Circle, a feature that allows digital transactions without the need to link a bank account. These features, set to roll out later this year, reflect Google Pay’s commitment to innovation in the fintech space.
UPI Circle: A New Way to Pay
The UPI Circle feature on Google Pay is designed to simplify digital payments by eliminating the need to link a user’s bank account. Google Pay offers two options under this feature: partial delegation and full delegation. In partial delegation, users retain full control and must approve each payment request initiated by their secondary user. This ensures a high level of security and oversight.
For those seeking convenience, the full delegation option allows a user to set a monthly limit of up to ₹15,000. This enables secondary users to make payments independently within the set limit, making transactions seamless and flexible. “UPI Circle is all about giving users control and convenience in digital payments,” a Google Pay spokesperson stated in a blog post.
UPI Vouchers: Expanding the Scope
Initially introduced for COVID-19 vaccination payments, UPI Vouchers have now evolved into a versatile payment solution across various sectors. These vouchers allow users to make digital payments through a prepaid voucher linked to their mobile number, without requiring a bank account. Beneficiaries can use any UPI app, including Google Pay, to complete transactions at supported merchants.
This feature is a result of Google Pay’s collaboration with the National Payments Corporation of India (NPCI) and the Department of Finance, furthering the reach of digital payments in India.
Streamlining Bill Payments with ClickPay QR
In partnership with NPCI Bharat BillPay, Google Pay has introduced the ClickPay QR feature, making bill payments easier and safer. Users can now pay bills by simply scanning a ClickPay QR code using the Google Pay app’s existing QR scanner. This eliminates the need to remember account details or consumer IDs, simplifying the payment process.
Prepaid Utilities and Seamless Recurring Payments
Google Pay is expanding its support for recurring payments by introducing prepaid utilities in collaboration with NPCI Bharat BillPay. This feature allows users to discover and link their prepaid utility providers, such as housing societies or energy accounts, and pay seamlessly using UPI. It’s a step forward in making recurring payments more user-friendly and accessible.
Tap & Pay for RuPay Cards
In a move to facilitate faster and safer transactions, Google Pay, in collaboration with NPCI, is introducing Tap & Pay for RuPay cards. RuPay cardholders can now add their cards to Google Pay and make payments by simply tapping their mobile phones on any card machine.
Notably, Google Pay ensures that sensitive information like the 16-digit card number is not stored, enhancing security.
Autopay for UPI Lite: Simplifying Small-Ticket Payments
For small-ticket purchases or transfers, UPI Lite has become a popular choice. To make this service even more convenient, Google Pay has introduced Autopay for UPI Lite. This feature automatically tops up a user’s UPI Lite account when the balance falls below a certain threshold, ensuring uninterrupted service for everyday transactions.
Understanding UPI Circle: A New Frontier in Digital Payments – Economy India
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