Google Pay, PhonePe, NPCI to launch recurring payments through UPI

Monday 10 August 2020 13:34 CET | News

PhonePe and Google Pay have partnered with the National Payments Corporation of India (NPCI) to offer recurring payment mandates to their users.

According to MoneyControl, the initiative will enable customers to opt for the auto-debit facility for monthly payments such as electricity bills, mobile phone bills, EMIs, media subscriptions, and insurance premiums through these applications. 

Therefore, the payment feature will allow recurring payment mandates to be set by a UPI user by just authenticating the transaction through the UPI PIN.

Furthermore, although it was reported that PhonePe did not support recurring payments, it was a feature the company was planning to add. However, the companies did not respond for comments, as the product is still in the development process, Money Control stated. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: PhonePe, Google Pay, National Payments Corporation of India, NPCI, India, trecurring payments, auto-debit, monthly payments, UPI, UPI PIN
Categories: Payments & Commerce
Countries: India
This article is part of category

Payments & Commerce