UPI Circle is a new feature launched by the government under the Unified Payments Interface (UPI). This feature is particularly beneficial for individuals who frequently make small transactions, such as splitting expenses with friends, managing household expenses, or paying for services.
Features of UPI Circle
- Limited Transactions:
- Under UPI Circle, users can make transactions up to a maximum of ₹15,000 per month.
- This transaction limit applies to transfers made within the circle of people the user includes.
- Creation of Circles:
- UPI Circle allows users to create a group or “circle” with their family, friends, or others.
- Within this circle, members can easily transfer money to each other.
- Easy Payments and Sharing:
- The primary purpose of UPI Circle is to enable users to quickly and easily send money to each other or share expenses.
- For example, if you and your friends go to a restaurant, you can split the bill using UPI Circle.
- Personal Control:
- Each member of the UPI Circle has full control over their transactions.
- Members can leave the circle or add new members at any time.
- Security and Privacy:
- All transactions made within UPI Circle are secured under UPI’s stringent security standards, ensuring your information remains safe.
How to Use UPI Circle
- Login to Your UPI App: First, log in to your bank’s UPI app.
- Select the Circle Option: Navigate to the menu and select the ‘UPI Circle’ option.
- Create or Join a Circle: You can create a new circle or join an existing one.
- Add Members: Add your friends, family, or others to the circle.
- Make Transactions: You can now transfer money within the circle.
Benefits of Using UPI Circle
- Perfect for Small Groups: Ideal for those who live in small groups and regularly share expenses or make transactions.
- Easy Expense Tracking: You can easily track all transactions made within the circle.
- Simple and Fast: The system is user-friendly and allows users to send or receive money anytime, anywhere.
The launch of UPI Circle is part of the government’s broader goal to promote digital payments and make money transactions easier and more secure for the general public.
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