Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    360 ONE acquires Mumbai Angels; announces two new funds with them

    January 23, 2023

    Kotak General Insurance partners with Clootrack to enhance customer centricity

    January 23, 2023
    Facebook Twitter Instagram
    BFSINXT
    Twitter YouTube LinkedIn
    • Banking
      • SME /Wholesale Banking
      • Retail
      • HR
        • Wholesale
      • Rural & Agri
    • NBFC
      • Customer Experience
      • Retail
      • Digital
    • Insurance
      • Life
      • General
      • InsurTech
    • Fintech
      • Payments
      • Lending
      • Wealth/PF
      • Neo-Banking
    • Policy
      • RBI
      • IRDAI
      • SEBI
      • Government
    • Financial Services
      • Securities
      • AMC
    • About us
      • Editorial Team
      • Our Advisory Panel
      • Get In Touch
    BFSINXT
    Home » PhonePe registers 1 million AutoPay mandates on UPI in 3 months
    Fintech

    PhonePe registers 1 million AutoPay mandates on UPI in 3 months

    September 19, 2021Updated:September 22, 20212 Mins ReadBy Chief Editor
    Twitter LinkedIn WhatsApp

    Strap: Leading digital payments company, PhonePe registered 1 million AutoPay mandates on UPI

    Copy: India’s leading digital payments company, PhonePe announced it has registered over 1 million Unified Payments Interface (UPI) enabled AutoPay mandates since the feature was launched in June this year.

    PhonePe becomes the first digital payments platform to achieve this milestone. PhonePe enabled AutoPay for varied use cases like mutual fund SIPs, Wallet Auto top-up and for OTT subscription renewals.

    The fintech said, “UPI AutoPay has seen large-scale adoption on PhonePe in a short span of time, particularly in the wallet top-up category. This uptick has been driven on the back of an enhanced user experience for recurring payments.”

    Users no longer have to remember payment due dates or deal with paused or cancelled subscriptions due to accidentally missed payment dues and users can set up recurring mandates with all the top banks live on the UPI AutoPay platform, it added.

    Sonika Chandra, Vice President – Consumer Payments at PhonePe, said, “This is a significant milestone for the Autopay feature and we are delighted to have achieved it within just 3 months of the launch. AutoPay is a big step forward for both customers and businesses as it provides a superior user experience and enables innovations around recurring payment based business models.”

    Sonia adds, “We are now focused on enabling AutoPay for several more merchants and use cases and hope to scale it further significantly.”

    Previous ArticleNPCI and Fiserv enable nFiNi – RuPay Credit Card stack for Fintechs and banks
    Next Article Bank of Baroda and BPCL launch co-branded debit card on RuPay
    Chief Editor

    Related Posts

    PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic

    January 23, 2023

    Jupiter raises Rs 100 crore in venture debt financing from Alteria Capital

    January 7, 2023

    Drivio raises $1 million in seed funding

    December 25, 2022

    PayMate Receives In-Principle Authorization To Operate As A Payment Aggregator From RBI

    December 10, 2022

    Leave A Reply Cancel Reply

    Recent Posts

    • PhonePe raises growth funds at a $12 billion valuation, led by General Atlantic
    • 360 ONE acquires Mumbai Angels; announces two new funds with them
    • Kotak General Insurance partners with Clootrack to enhance customer centricity
    • Upstox partners with ‘Trading View’ to empower traders with simplicity
    • AU Small Finance Bank introduces menstrual leaves for women employees

    Recent Comments

    No comments to show.
    Demo
    NBFC's

    PLANET App by L&T Financial Services Crosses 1.5 Million Downloads

    January 7, 2023

    SIDBI enters Co-lending Space for Unsecured Loans to MSMEs, partners with Ambit Finvest

    December 31, 2022

    Piramal Finance launches ‘Innovation Lab’ in Bengaluru

    December 19, 2022

    Shriram Transport Finance and Shriram City Union Finance are now Shriram Finance, India’s largest retail finance NBFC

    December 5, 2022
    New Policy
    Policy

    GSTN gets included as a Financial Information Provider under Account Aggregator Framework

    November 23, 20220By Bfsinxt Desk

    The RBI said, with a view to facilitate cash flow-based lending to MSMEs, it has been decided to include Goods and Services Tax Network (GSTN) as a Financial Information Provider (FIP) under the Account Aggregator (AA) framework.

    RBI to run Nation-wide Finanical Services Awareness Programme in November 2022

    November 3, 2022

    RBI to soon operationalise CBDC Wholesale (e₹-W) Pilot

    November 1, 2022

    RBI launches दक्ष (DAKSH) – Reserve Bank’s Advanced Supervisory Monitoring System

    October 8, 2022
    • Twitter
    • YouTube

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    BFSINXT
    Twitter YouTube LinkedIn
    © 2023 bfsinxt.com.

    Type above and press Enter to search. Press Esc to cancel.