Benefits of UPI AutoPay
For financial services:
- EMI payments (loans, insurance, mutual funds) can be made through UPI AutoPay without missing due dates or setting reminders.
- Payments made on time avoid late fees and penalties.
- In UPI recurring mandates, each client can choose from a variety of payment methods (monthly, quarterly, etc.) and quantities (from Rs.1 / – to Rs.2000 +).
- Recurring payments made in a secure and convenient way.
- Process without using cash.
- There will be no long queues.
- There are no papers required.
- UPI offers a variety of passes on a daily, weekly and monthly basis.
- There will be no more fines or penalties for traveling without a ticket.
- There is no need to worry about losing tickets.
- It’s the ultimate in convenience.
For educational services:
- Educational packages can be customized to meet specific needs.
- Quick and easy payments to earn. information from the comfort of your own home.
- UPI AutoPay service allows you to buy now and pay later.
- For retailers, it’s easy to deliver to their doorstep.
- Convenience is right outside your door (no looking for change etc.)
- Edit, revoke and pause tools are also provided to change orders as needed.
How does UPI AutoPay work?
A “Mandate” option will be available in any UPI compatible application, allowing customers to establish, approve, modify, stop or revoke a direct debit mandate. To use the UPI Autopay feature, follow this step by step guide.
Authenticate your account with a UPI PIN code once, and subsequent monthly payments will be automatically debited from your account.
For transactions up to Rs. 2000, create an electronic mandate using a UPI compatible bank ID or QR scan.
Each mandate will require UPI PIN authentication for transactions exceeding Rs. 2000.
Single, daily, weekly, bi-monthly, monthly, bi-monthly, quarterly, semi-annually and annually mandates are all possible.
Live aggregators on UPI AutoPay
|Sr. No.||Live aggregators on UPI AutoPay|
List of live applications on UPI AutoPay
|3||Industrial bank application|
List of banks live on UPI AutoPay
|Sr. No.||Bank name|
|1||National Bank of India|
|2||Paytm payment bank|
|3||HDFC BANK LTD|
|6||Axis Bank Ltd.|
|7||Bank of India|
|9||IDFC FIRST Bank|
|ten||Yes Bank SA|
|12||IDBI Bank Limited|
|14||Punjab and Sind Bank|
|15||Karur Vysia Bank|
|17||NSDL payment bank|
|18||Jio payment bank|
|19||Utkarsh Small Financial Bank|
|20||Saraswat Cooperative Bank|
|21||Small Northeast Financing Bank|
|22||Suryoday Small Finance Bank|
|23||Small Shivalik Corporate Bank|
|24||Thane Janta Sahakari Bank|
|25||National Bank of Punjab|