Customers, merchants can use UPI Autopay facility for recurring payments

The National Payments Corporation of India (NPCI) has recently launched the Unified Payments Interface (UPI) AutoPay for recu­rring payments. The process doesn’t require several layers of authorisation, thereby making it simpler for consumers to make small payments.

UPI transactions hit an all-time high of 1.34 billion in June, with transactions of over Rs 2.61 trillion clocked in June alone.

Features:

This facility gives both the customer and the merchant the ability to set up autopay for recurring payments. For instance, customers and merchants can enable recurring e-mandate using any UPI application for recurring payments, such as mobile and electricity bills,