India, April 16 -- PhonePe has introduced its latest innovation ,the UPI Circle. UPI (Unified Payments Interface) is the digital payment system that facilitates real-time online transactions directly from bank accounts through platforms such as PhonePe, Google Pay, and others. Traditionally, a UPI ID must be linked to a bank account in order to carry out transactions. However, with the launch of the UPI Circle, that requirement is changing.

Currently, millions of individuals in India lack access to bank accounts, limiting their access to digital payments via UPI. PhonePe's UPI Circle aims to address this gap. According to the company, users can create a 'circle' by adding friends, family members, or anyone they choose. Each member of the...