PhonePe received a million UPI autopay mandates in past three months

Launched last year, UPI Autopay allows users to set up recurring e-mandates for recurring payments such as mobile bills, power bills, EMIs, OTT subscriptions, insurance, MF among others

Walmart-backed digital payments firm PhonePe said it has registered one million UPI Autopay mandates during the past three months for a number of use cases such as OTT subscriptions, wallet top-ups, and SIPs.  

Launched last year, UPI Autopay enables customers to set up recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds among others.

According to data released by the National Payments Corporation of India (NPCI), in August, banks have received 1.78 million UPI autopay mandate registration requests. This is an indication of the