UPI Payments: The Preferred Method in India
UPI payments have become the most popular way to make online transactions in India. Companies like Google Pay, PhonePe, and Paytm offer UPI payment services that make online payments simple and convenient. Typically, using these apps requires a linked bank account, but with this new feature, Google Pay allows you to make payments without one. The National Payments Corporation of India (NPCI) recently launched the UPI Circle feature, which Google Pay has now incorporated into its payment service.
Google’s Big Reveal at Global Fintech Fest (GFF 2024)
At the Global Fintech Fest (GFF 2024), Google unveiled a series of new features for Google Pay, including the UPI Circle. This feature is designed to enhance your digital payment experience by allowing family and friends to make payments on your behalf. These new features could give Google Pay an edge over competitors like PhonePe and Paytm in the UPI payments space.
Google Pay UPI Circle: How It Works
The NPCI recently introduced the UPI Circle feature, which Google Pay has now adopted. This feature lets you authorize your family members or friends to make UPI payments on your behalf, without requiring them to link their own bank accounts. You can add family members or friends as secondary participants.
Secondary participants can be registered in either the partial or full delegation category. They will be able to make payments on your behalf, with a monthly limit of ₹15,000 for each participant.
New Features on Google Pay
In addition to the UPI Circle, Google Pay is also offering several other exciting features:
- "eRupi Voucher:" This is a voucher-based payment feature. Existing UPI users, government departments, and organizations can issue UPI vouchers under this feature. These vouchers can be redeemed for various services and transactions.
- Tap & Pay Payments: This feature makes it easy to pay using a RuPay card through your mobile phone. You can add your RuPay card details to Google Pay, and then simply tap your phone on a card scanning machine to make a payment.
- UPI Lite Autopay: Designed for UPI Lite users, this feature automatically credits your balance when it falls below a certain limit.
- ClickPay QR: This feature allows you to generate a QR code based on the payment amount. By scanning this code, UPI payments can be made directly, eliminating the need to manually enter the payment amount.
These new features aim to make Google Pay a more powerful and user-friendly option in the online payments space, offering more flexibility and convenience to its users.