Case Study : UPI Circle – Revolutionizing Payments with Collaborative Financial Ecosystem
Introduction UPI Circle is a unique and innovative concept that emerged from the Unified Payments Interface (UPI) ecosystem in India, a system introduced by the National Payments Corporation of India (NPCI). It represents a collaborative financial network in which users create small groups or "circles" of trusted individuals or businesses to manage and streamline payments, facilitate credit, and share financial responsibilities. UPI Circle is built on the foundation of UPI's instant real-time payment capabilities and extends its functionality to foster stronger relationships among participants in specific financial contexts. The rise of UPI has already transformed the payment landscape in India, offering a seamless, secure, and efficient platform for real-time bank transactions through mobile devices. UPI Circle takes this a step further by encouraging group-based financial activities, making payments and financial management more social and community-oriented...