UPI Autopay!

How many of you are excited about this? It enables recurring payments through UPI without the hassle of entering the code for transactions less than <2k.

Which would be the largest use case for you - utility payments or passes for public transport (Metro, Bus, Train etc.) or something else?

5 Likes

Subscriptions, bill payments, other use cases like tuition fee for kids, etc.

1 Like

There are certain things I can’t avail online due to requirement of a credit card.
Seems like we have a solution!

1 Like

This is a host of new opportunities, Subscription fees to OTT to Insurance premiums to many things!!

Tbh, this doesn’t affect me much cus I use Credit card over UPI to reap the sweet reward points :stuck_out_tongue:

This is a great news. UPI likely to garner 1B+ transaction a day by 2025.
UPI Recurring will be key enabler to improve the unit eco (LTV>CAC) for digital subs businesses.

Can someone help me understand how this is different from an E-mandate?

@Seema are you talking about NACH e mandate? If that’s the case, it is on the account and can be done through a linked debit card or internet banking facility. Whereas UPI autopay will be similar to the card-based autopay facility.

e-mandates will never go out of vogue. It offers more control to a lender!
Upi based auto pay can’t be controlled by lenders, like ecs. Am I right?

Absolutely correct, @AshishBhalla!
If I link two accounts in PhonePe, I can switch among the two in case I plan to close an account. More power to the consumers.

1 Like

Now will sips be deducted like this ?

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