NPCI Introduces UPI AutoPay Feature for Recurring Payments

The National Payments Corporation of India has today launched UPI AutoPay. The launch announcement was made at the Global Fintech Summit which is being held virtually this year due to theCoronaviruspandemic.

As one can deduce from the name ‘UPI AutoPay’, the feature enables recurring payments viaUPI. This should help customers use UPI for paying for everything from SIPs, to subscription services. Services likeYouTube Music already support UPIfor payments, so you should be able to use UPI AutoPay to pay your monthly subscription fees now.

Speaking at the announcement of the new payments feature, Nandan Nilekani, co-founder of Infosys said,“We have long been planning a digital payments economy. And, now we are seeing a huge amount of digital payments, more than cash withdrawals. As we provide more and more such user friendly services like UPI AutoPay we will see more and more adoption of digital payments. This is one of the national goals to increase the proportion of digital payments and reduce the amount of cash we use in our economy.”

Organisations including HDFC Bank, ICICI Bank, PolicyBazaar, TimesPrime, RazorPay etc have announced that they will be supporting UPI AutoPay for recurring payments including for subscription services, as well as monthly and yearly payments.

Akshay Gangwar

Greetings, tech titans and fellow literary time-travelers! I’m Akshay, your tech-whisperer and Harry Potter’s number one stalker – seriously, don’t ask me how many times I’ve read those books; it’s borderline unhealthy.

Working in the tech journalism industry since 2016, I have 7 years of experience covering everything from technology news, to well-researched resource articles. Now the Content Strategist at Beebom, I often pen down op-eds for our website, sharing expert commentary on the latest in technology, AI, and electric cars.

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