NPCI launches Autopay UPI for recurring payments; Nandan Nilekani calls it an important milestone 

The customers have the mandate to go for auto debit option using AutoPay facility and for the payments higher than Rs 2000 customers will have to authorize by using UPI pin. 
Infosys chairman Nandan Nilekani (File photo| Nagaraja Gadekal, EPS)
Infosys chairman Nandan Nilekani (File photo| Nagaraja Gadekal, EPS)

BENGALURU: The National Payment Corporation of India (NPCI) on Wednesday launched the UPI Autopay functionality for recurring payments using UPI applications. 

AutoPay that targets the middle-class income groups in the country, enables recurring payments like mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds and loan payments, paying for transit/metro payments among others of up to Rs 2000. 

The customers have the mandate to go for auto-debit option using AutoPay facility and for the payments higher than Rs 2000 customers will have to authorize by using UPI pin.

"Any UPI-enabled application would also have a ‘Mandate’ section, through which customers can create, approve, modify, pause as well as revoke auto-debit mandate. The mandate section will allow customers to view their past mandates for their reference and records. UPI users can create e-mandate through UPI ID, QR scan or Intent. The pattern for auto debit mandate has been created keeping in mind customers’ spends on recurring payments. The mandates can be set for one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly and yearly," according to an official statement.

The new UPI facility was launched by Nandan Nilekani, co-founder and Non-executive Chairman of Infosys and former Chairman, Unique Identification Authority of India (UIDAI)said that UPI AutoPay was one of the recommendations put forth by a RBI committee on Deepening of Digital Payments chaired by him that is finally being implemented. 

"As a part of the UPI, recurring mandates have also become pertinent. Autopay will give further impetus to the volume of UPI transactions and allow them to reach their goal of 1 billion digital transactions per day," he added.

While calling Autopay facility as yet another innovation by NPCI which earlier introduced immediate money payment system(IMPS)and later Aadhar enabled system for direct bank transfer, Nilekani said India is drawing international attention due to these initiatives.

"The UPI AutoPay offering would provide millions of UPI user's convenience and safety while making recurring payments. We believe, this facility will not only benefit customers, but also merchants with an all-new recurring payments experience. We also hope to achieve new milestones by expanding UPI's presence especially in the P2M payment space," Dilip Asbe, MD & CEO, NPCI said.

Among various enterprises/ financial institutions adopting UPI Autopay are 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.
 

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