Forgot to pay your electricity bills? Even better, how many times have we forgotten to pay insurance premiums and ended up paying late fees?

The process of having to open an app, enter the details, input the UPI code etc. tends to be tedious. Multiply this process with many apps and you can imagine the pain!

This is where the UPI AutoPay feature, which will allow recurring payments via the Unified Payment Interface (UPI) comes in. Now, consumers can set up auto debit instructions on their UPI mobile apps.

Do not forget to use a GST calculator to make tax payments. This will also ensure a seamless transition into their e-commerce initiatives..

 By using the UPI AutoPay feature, customers can make recurring payments in a convenient and safe way. They also do not have to worry about late charges.

Setting up payments using UPI AutoPay

First, register for the UPI AutoPay from a merchant’s (for e.g LIC) website as well as from the UPI. You need to provide the merchant’s UPI ID, amount to be debited, frequency of the payment, and the validity period of the recurring payments. For example, you can set up monthly or quarterly LIC premium payments.

Then you will receive a notification to authorize the AutoPay request on the UPI app. You need to enter your UPI PIN and after it is verified, you will receive a confirmation message on registered email id and mobile number from the merchant of the AutoPay facility, indicating successful registration.

After the successful registration of UPI AutoPay, the payment gets processed according to the instructions given. A customer will get a notification at least 24 hours before the amount is deducted from the bank account and will get another notification after the amount is deducted.

What is the frequency of recurring payments that can be set-up?

The frequency of recurring payments available is daily, weekly, fortnightly, monthly, bimonthly, quarterly, half yearly and annually. The payment options could vary depending on the merchant, as per the payment option on its website.

Do I need to enter my UPI pin to authorize every UPI AutoPay payment?

No. For recurring transactions of up to Rs 2000, you will need to authorize once, after which no authorization is needed. However, if the transaction is more than Rs 2000, the UPI pin becomes mandatory for completing the transaction.

What services can be set up with UPI AutoPay?

Insurance premiums, utility bills, systematic investment plans (SIPs) in mutual funds, over-the-top (OTT) platform subscriptions and loan EMIs (equated monthly instalments).

Which bank customers can avail of UPI Autopay?

Axis Bank, Bank of Baroda, HDFC Bank, Paytm Payments Bank and State Bank of India (SBI) have rolled out this service. Other banks are also working on rolling out this feature.

Is there a flexibility to modify UPI AutoPay instruction?

Yes. The consumer has the flexibility to modify, pause and cancel the UPI AutoPay instruction. However, this needs to be done factoring in any obligations the consumer has with the merchant.

Are there any charges to set up UPI AutoPay?

No. There are no charges for setting up the UPI AutoPay facility.

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