Money & Banking

Setting up UPI Autopay for recurring payments: Here's all you need to know

Our Bureau Mumbai | Updated on October 13, 2021

Users can set up an e-mandate using UPI Autopay for recurring payments

The Reserve Bank of India's on Additional Factor of Authentication (AFA) coming into effect from October 1.

With this, the UPI AutoPay option has been gaining popularity among customers as well.

Users can set up an e-mandate using UPI Autopay for periodic recurring payments.

"UPI AUTOPAY, customers can enable recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds, and loan payments, paying for transit/metro payments among others of upto ₹5,000. If the amount exceeds ₹5,000, customers have to execute every mandate with UPI PIN," the National Payments Corporation of India (NPCI) said in an official release.

Here's are the steps for customers to set up UPI Autopay:

A UPI-enabled application would have a ‘Mandate’ section, through which customers can create, modify, pause as well as revoke auto-debit mandate.

Customers can view their past mandates for their reference and records through the mandate section. UPI users can create an 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," it said.

Customers can set mandates for one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly, and yearly time periods.

Mandates are generated instantly and payments get deducted automatically on the authorised date, it added.

Customers will be required to authenticate their account through UPI PIN one-time and subsequent monthly payments would be debited automatically.

For instance to set up UPI Autopay in BHIM UPI App, customers can login to BHIM UPI App and click on Auto Debit to get started. From there they will need to click on Mandate and move to Manage mandate to create a new mandate or view past mandates.

While creating a mandate, they will need to select payment frequency/period (monthly/weekly/annually). They can then add the name of the merchant and select auto debit date and click on Proceed to set it up.

Currently, various banks, merchants, and aggregators are live with UPI Autopay. These include Axis Bank, Bank of Baroda, HDFC Bank, HSBC Bank, ICICI Bank, IDFC Bank, IndusInd Bank, Paytm Payments Bank, Jio Payments Bank, among others.

OTT platforms include Netflix, Disney+ Hotstar, Gaana and Jio Saavn also support UPI Autopay. Other platforms that support the payment method include BSE, JAR, JIO mobility prepaid, Policybazaar insurance brokers, among others.

Google Pay, SonyLIV, Amazon Prime, Voot, Hungama, Zee5, BYJU’s, Acko General, Tata Power, SBI AMC, ET Prime, Upstox etc will soon go live with UPI Autopay, the release added.

Published on October 13, 2021

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