NPCI Plans UPI AutoPay Portability Across Apps: Report
Recurring payments have become a quiet but important part of India’s digital payments ecosystem. Subscriptions, insurance premiums, SIPs, and loan repayments can all run through UPI AutoPay, but the convenience has come with a limitation: once a mandate is created, moving it can be difficult.
That could change if a reported plan by the National Payments Corporation of India (NPCI) goes ahead. NPCI is reportedly preparing to make UPI AutoPay mandates interoperable across UPI apps. The proposed system would allow consumers to move existing mandates from one UPI app to another without cancelling and recreating them.
A similar change is being considered for merchants. Businesses that change payment gateways or acquiring partners could potentially move existing mandates to the new provider rather than asking customers to register them again.
The features are expected to be announced at the Global Fintech Fest in Mumbai next month, according to the report. NPCI...
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