New Delhi, Business Desk. People using UPI for transactions will now be able to make their payments on time without forgetting. National Payments Corporation of India (NPCI) has launched a feature that will make payments from UPI on the scheduled date in auto mode, and for this, no UPI PIN will be entered repeatedly. Recently NPCI has launched the UPI Auto Pay (UPI AutoPay) feature to facilitate recurring online payments.
This feature allows customers on the UPI platform to set up an e-mandate for recurring payments of up to Rs 2,000. This means that customers with this facility will not need UPI PIN for recurring payments up to Rs 2,000. At the same time, customers will need UPI PIN for payment of more than Rs 2,000.
Also Read: RBI Recruitment 2020: Online registration starts August 3, check eligibility & vacancy
With the UPI Auto-Pay facility, customers can deposit their electricity, phone etc. bills. Also, customers can set up e-mandate for their entertainment or OTT subscriptions, transit and metro payments, mutual funds, insurance, EMI etc. Through this facility, customers do not have to set a reminder for their payments.
To avail this facility, customers have to create an e-mandate through UPI ID or QR scan and set it on a one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly or yearly basis. Can. Users can also make changes in the mandate section by logging into their UPI app. Users will need to authenticate their account with the UPI PIN for the initial payment and after that the payment will be automatically deducted on the date fixed by the user. However, users should check all the information carefully while approving the merchant’s auto-pay request.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at businessleaguein@gmail.com
