NPCI Launches UPI AutoPay Feature to Enable Auto-Debit of Recurring Payments

[Raviteja]

This feature allows customers to set an e-mandate for cyclical payments of up to Rs. 2,000 on the UPI platform. For recurring payments above Rs. 2,000, customers will have to execute every mandate with the UPI PIN. This UPI AutoPay feature can be used for recurring expenses like mobile bills, mutual funds and loan payments, paying for transit/metro payments, EMI payments, insurance, electricity bills, entertainment/ OTT subscriptions, and many other online transactions.

NPCI has introduced UPI AutoPay for banks like Axis Bank, Bank of Baroda, HDFC Bank, HSBC Bank, ICICI Bank, IDFC Bank, IndusInd Bank, Paytm Payments Bank, AutoPe-Delhi Metro, AutoPe-Dish TV, CAMS Pay, Furlenco, Growfitter, Policy Bazaar, Testbook.com, The Hindu, Times Prime, Paytm, PayU, RazorPay, among others. YES Bank, State Bank of India, and Jio Payments Bank will introduce UPI AutoPay soon.

UPI AutoPay Feature Launched to Enable Auto-Debit of Recurring Payments