Click it and Unblock the Notifications
UPI Autopay for Recurring Payments; List of Banks And Apps Live On UPI AutoPay
The National Payments Corporation of India developed the Unified Payments Interface, an instant real-time payment system that facilitates inter-bank transactions. The Reserve Bank of India regulates the interface, which works by transferring payments between two bank accounts on a mobile platform in real-time.
Customers can now enable periodic e-mandates using any UPI application for recurring payments such as cell bills, power bills, EMI payments, entertainment/OTT subscriptions, insurance, and mutual funds, among other things, thanks to this new feature offered under UPI 2.0.
Benefits of UPI AutoPay
For Financial Services:
- EMI payments (loans, insurance, mutual funds) can be made via UPI AutoPay without missing due dates or setting reminders.
- Payments made on time avoid late fees and penalties.
- In UPI recurring mandates, each customer can choose from a variety of payment modes (monthly, quarterly, etc.) and quantities (from Rs.1/- to Rs.2000+).
- Recurring payments made in a secure and convenient manner.
- Transacting without using cash.
- There will be no long lines.
- There is no paperwork required.
For Transit:
- UPI offers a variety of passes on a daily, weekly, and monthly basis.
- There will be no longer fines or penalties for travelling without a ticket.
- There's no need to be concerned about losing tickets.
- It's the epitome of convenience.
For Educational Services:
- Education packages can be customized to meet specific needs.
- Payments that are simple and quick gaining. information from the comfort of one's own home.
For Ecom
- The UPI AutoPay service allows you to buy now and pay later.
- For retailers, it's simple to deliver to their doorstep.
- Convenience is right outside your door (No searching for change etc)
- Modify, revoke, and pause tools are also provided for amending orders as needed.
How does UPI AutoPay work?
A 'Mandate' option will be available in any UPI-enabled application, allowing customers to establish, approve, alter, stop, or revoke an auto-debit mandate. To use the UPI Autopay feature, follow this step-by-step guide.
Authenticate your account with a UPI PIN once, and subsequent monthly payments will be automatically debited from your account.
For transactions up to Rs. 2000, create an e-mandate using a UPI-enabled bank ID or a QR scan.
Every mandate will demand a UPI PIN authentication for transactions exceeding Rs. 2000.
One-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly, and yearly mandates are all possible.
Live Aggregators on UPI AutoPay
| Sr. No. | Live Aggregators on UPI AutoPay |
| 1 | Razorpay |
| 2 | Paytm |
| 3 | Cams Pay |
| 4 | PayG |
| 5 | Digio |
| 6 | PayU |
| 7 | Bill Desk |
List of Apps Live On UPI AutoPay
| Sr. No. | Application |
| 1 | BHIM |
| 2 | Paytm |
| 3 | Indusind Bank App |
List of Bank Live On UPI AutoPay
| Sr. No. | Bank Name |
| 1 | State Bank Of India |
| 2 | Paytm Payments Bank |
| 3 | HDFC BANK LTD |
| 4 | ICICI Bank |
| 5 | Bank of Baroda |
| 6 | Axis Bank Ltd. |
| 7 | Bank of India |
| 8 | INDUSIND BANK |
| 9 | IDFC FIRST Bank |
| 10 | Yes Bank Ltd |
| 11 | Federal Bank |
| 12 | IDBI Bank Limited |
| 13 | HSBC |
| 14 | Punjab and Sind Bank |
| 15 | Karur Vysya Bank |
| 16 | RBL |
| 17 | NSDL Payments Bank |
| 18 | Jio Payments Bank |
| 19 | Utkarsh Small Finance Bank |
| 20 | Saraswat Co-operative Bank |
| 21 | North East Small Finance Bank |
| 22 | Suryoday Small Finance Bank |
| 23 | Shivalik Small Finance Bank |
| 24 | Thane Janta Sahakari Bank |
| 25 | Punjab National Bank |
| 26 | Canara Bank |
| 27 | SBM |
Sign in with Google