Outlook Business Desk
Google Pay has introduced Pocket Money under UPI Circle, allowing controlled payments for family members or dependents. Children, elderly users or employees can make payments using a primary account with set limits and permissions for safe spending.
Pocket Money works through UPI Circle, where a primary user links their bank account and adds secondary users. These users can make payments from the shared account without needing their own bank account, based on the permissions set by the primary user.
Secondary users can initiate payments directly from the primary account under Pocket Money. Transactions are either processed automatically within set limits or sent for approval, depending on the control settings chosen by the primary user.
Primary users can set a monthly limit of up to ₹15,000. Within this limit, secondary users can make payments freely without needing approval for every transaction, making it more convenient for regular use.
In this mode, every transaction needs approval. The secondary user sends a payment request, and the primary user must approve it before the payment is completed, giving full control over each transaction.
Users need to open Google Pay and go to UPI Circle in the profile menu, then select Pocket Money. They need to add a contact, scan the secondary user’s QR code, choose a payment mode, set spending limits, complete KYC and confirm the setup using their UPI PIN.
After setup, secondary users can pay by scanning QR codes or using phone numbers for offline payments. For online purchases, they select UPI at checkout. Approval-based payments send alerts to the primary user for quick confirmation.
The feature supports QR codes, phone numbers, UPI IDs and online payments. However, bill payments and mobile recharges are not supported. A 24-hour cooldown applies after adding a new user, with lower limits during this period.