INDIAN TELECOM USERS TO ENJOY AUTOPAY VIA UPI FOR THE

 INDIAN TELECOM USERS TO ENJOY AUTOPAY VIA UPI FOR THE FIRST TIME WITH JIO

 -          JIO BECOMES FIRST IN THE INDUSTRY TO ROLL OUT UPI AUTOPAY FOR BOTH PREPAID AND POSTPAID USERS

-          JIO USERS CAN AUTOPAY FOR THEIR PREFERRED PLAN ON MYJIO APP & ENJOY A LIFETIME OF TOUCHFREE AUTO-RECHARGE & BILL-PAYMENT

National Payments Corporation of India (NPCI) and Jio have announced that UPI AUTOPAY has now been introduced for the telecom industry with Jio. Hundreds of millions of Jio customers can now set standing instructions on the MyJio App using UPI AUTOPAY for their favorite tariff plans and enjoy hassle-free recharging experience. Jio’s integration with UPI AUTOPAY has made it the first player in the telecom industry to go live with the unique e-mandate feature that was launched by NPCI

WHAT THIS MEANS FOR JIO USERS:

• Jio users will no longer need to remember their date of recharge once the validity ends.

• The Jio plan opted by the users would be auto renewed on the set date.

• For recharge amounts up to INR 5000, customers do not even have to enter the UPI PIN on the execution of the recharge.

• Users can also create, modify as well as remove the e-mandate for the tariff plans as per their requirements through UPI AUTOPAY.

Kunal Kalawatia, Chief of Products, NPCI said, “We are glad to associate with Jio and witness UPI AUTOPAY venturing into the ever-evolving telecom sector. We believe our collaboration will change the way Jio customers experience renewal of their mobile tariff plans. With UPI AUTOPAY, it’s our constant endeavor at NPCI to provide an extra layer of comfort and convenience to all the customers for their recurring spends and payments. We believe that this integration will drive a favorable customer sentiment about seamless and automated recurring payments.”

 Mr. Kiran Thomas, Director, Jio said, “The combination of Jio’s superior prepaid and postpaid plans and UPI AUTOPAY will now be available to every Jio user. Jio users will no longer need to remember their recharge renewal date or bill payment date and perform manual payments. This will enable an ALWAYS-ON service experience for every Jio prepaid user.”

NPCI introduces UPI AutoPay facility for

NPCI introduces UPI AutoPay facility for recurring payment

• Customers can now set e-mandate on UPI platform to perform recurring payments of upto Rs. 2000; for amount above Rs. 2000, customers have to execute every mandate with UPI PIN
• Customers can now 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
• The facility to provide millions of UPI users convenience, safety while making recurring payments

National Payment Corporation of India (NPCI) said that it has launched the functionality of UPI AutoPay for recurring payments. With this new facility introduced under UPI 2.0, customers can now 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 upto Rs. 2000. If the amount exceeds Rs. 2000, customers have to execute every mandate with UPI PIN.

Any UPI-enabled application would also have a ‘Mandate’ section, through which customers can create, approve, 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 for one-time and subsequent monthly payments would be debited automatically.

Some of the banks, merchants and aggregators who have already gone live with UPI AutoPay are Axis Bank, Bank of Baroda, HDFC Bank, HSBC Bank, ICICI Bank, IDFC Bank, IndusInd Bank, Paytm Payments Bank, AutoPe-Delhi Metro, AutoPe-Dish TV, CAMS Pay, Furlenco, Growfitter, Policy Bazaar, Testbook.com, The Hindu, Times Prime, Paytm, PayU, RazorPay, among others. Jio Payments Bank, State Bank of India and YES Bank will soon go live with UPI AutoPay. 

Nandan Nilekani Chairman and Co-Founder, Infosys Limited said, “UPI being the one stop destination for customers’ day-to-day spends, acts as a backbone of digital India. Introducing UPI AutoPay on UPI is a testament of continuous innovation in the digital payments space. This was also one of the key recommendations of the RBI Committee on Deepening of Digital Payments, which I chaired. It is a proud moment for the ecosystem to witness features like UPI AutoPay, which is technology driven that requires minimum human intervention.”

Rajnish Kumar, Chairman, SBI said, “We are glad to witness the launch of UPI AutoPay facility at this momentous event. We believe this unique facility would enable customers streamline their recurring bill payments and help them get rid of paying those bills manually. It is a pleasure to watch both banks and digital payment ecosystem collectively working towards providing utmost convenience to customers. We are confident that the coming years would bring in various innovative digital payments solutions keeping in mind customers ease of payments convenience and safety.”

Dilip Asbe, MD & CEO, NPCI said, “The launch of UPI AutoPay is a step ahead in India’s journey towards digitization. We have been witnessing a lot of changes in the way customers are making recurring payments over the last few years. The UPI AutoPay offering would provide millions of UPI user’s convenience and safety while making recurring payments. We believe, this facility will not only benefit customers, but also merchants with an all new recurring payments experience. We also hope to achieve new milestones by expanding UPI's presence especially in the P2M payment space”.

With RBI continuously encouraging customers to adopt digital payments, offerings like the launch of UPI AutoPay would further attract customers to on-board UPI and witness a new arena of digital payments. The UPI 2.0 offers features such as overdraft facility, one-time mandate, invoice in the inbox and signed intent & QR and foreign inward remittance among others to the customers.