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Customers, merchants can use UPI Autopay facility for recurring 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

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Until now, customers needed to visit the branch or call the bank executive home and submit a form for electronic clearing service

Bindisha Sarang

3 min read Last Updated : Jul 28 2020 | 6:05 AM IST

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,

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