UPI autopay revocations hit 20 mn per month on low customer balance

UPI AutoPay enables users to generate a recurring e-mandate using any UPI payments application. It allows users to set timely mandates to pay using UPI on a periodic basis

More than 20 million AutoPay mandates on the Unified Payments Interface (UPI) are revoked each month as users’ accounts fall short of the required balances, according to sources.

 

UPI AutoPay enables users to generate a recurring e-mandate using any UPI payments application. It allows users to set timely mandates to pay on a periodic basis.

 

Mandate registration refers to the creation of a recurring mandate against a customer’s bank account. Execution refers to the transaction wherein the recurring debit is done on the remitting account, as per National Payments Corporation of India (NPCI).

 

Cancellations occurred on recurring payments use cases