Tag: bhim app

The Reserve Bank of India’s (RBI) new auto-debit rule regarding additional factor of authentication for recurring payments made via debit and credit cards came into effect on October 1, 2021. The new auto-debit rule made recurring payments like subscription of OTT platforms, music apps, utility bill payments etc. difficult without additional factor confirmation via SMS, email etc..

Thus, many UPI players like BHIM, PhonePe, Amazon etc. have launched the auto-pay facility where users can easily set up mandate for recurring payments. Here is a look at how BHIM UPI users can use the auto-pay facility set up an e-mandate to make recurring payments.

“With UPI AUTOPAY, customers can enable recurring e-mandate using any UPI application for recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds, and loan payments, paying for transit/metro payments among others of up to Rs 5000. If the amount exceeds Rs 5,000, customers have to execute every mandate with UPI PIN,” the National Payments Corporation of India (NPCI) explained via a press release issued on October 13, 2021.

Here are the steps to follow to set up the e-mandate according to the press release.

Steps for customers

• Any UPI-enabled application would have a ‘Mandate’ section, through which customers can create, modify, pause as well as revoke auto-debit mandate.
• The mandate section will allow customers to view their past mandates for their reference and records. UPI users can create e-mandate through UPI ID, QR scan, or Intent.
• The pattern for auto-debit mandate has been created keeping in mind customers’ spends on recurring payments. The mandates can be set for one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly, and yearly.
• Both, individual users and merchants can benefit from this feature tremendously, as mandates are generated instantly and payments get deducted automatically on the authorized date.
• The customers have to authenticate their account through UPI PIN one-time and subsequent monthly payments would be debited automatically.

As per the NPCI press release, here how to set up UPI AUTOPAY on the BHIM UPI App

• Login to BHIM UPI App
• Click on Auto Debit
• Click on Mandate
• Manage mandate (create new or view past mandates)
• Select payment frequency / period (monthly / weekly / annually, etc)
• Add name of the merchant and select auto debit date
• Click on Proceed

According to the press release, these are some of the banks, merchants, and aggregators who are live with UPI AUTOPAY: Axis Bank, Bank of Baroda, HDFC Bank, HSBC Bank, ICICI Bank, IDFC Bank, IndusInd Bank, Paytm Payments Bank, Jio Payments Bank, State Bank of India, YES BANK, Bennett Coleman and Co Ltd, Paytm LIC India, Paytm utility bill payment, Paytm recharge/bill payment, Deccan Herald e-paper, IIFL securities, Helpage India, CRY, Bajaj Finserve, Netflix, Disney+ Hotstar, Gaana, Jio Saavn, BSE, JAR, JIO mobility prepaid, Policybazaar insurance brokers, ICICI Prudential, Satin Creditcare, BHIM, Paytm, PhonePe, Amazon Pay, IndusInd Bank App, Angel Broking, and 5paisa.com etc.Google Pay, SonyLIV, Amazon Prime, Voot, Hungama, Zee5, BYJU’s, Acko General, Tata Power, SBI AMC, ET Prime, Upstox etc will soon go live with UPI AUTOPAY.