RBI has proposed introducing Delegated Payments feature on UPI, the widely used digital payments platform, allowing multiple users to make transactions from a single primary bank account.
The holder of the primary bank account can set transaction limits for secondary users linked to the UPI-enabled account.
“This product is expected to add to the reach and usage of digital payments across the country,” the RBI said. UPI has a user base of 424 million.
Delegated Payments would allow an individual (primary user) to set a UPI transaction limit for another individual (secondary user) on the primary user’s bank account.
This product is expected to add to the reach and usage of digital payments across the country.
See the next story on- Cheque Mates!♟️