If you use UPI AutoPay for OTT subscriptions, SIPs, insurance premiums, or loan EMIs, a useful new feature could be on the way.
The National Payments Corporation of India (NPCI) is reportedly planning a major upgrade that will let users transfer their AutoPay mandates from one UPI app to another without starting from scratch.
This change could save users time and make managing recurring payments much simpler.
No Need to Set Up AutoPay Again
Right now, if you switch from one UPI app to another, you usually have to cancel your existing AutoPay mandate and create a new one. This can be inconvenient, especially if you have multiple recurring payments.
With the proposed update, users may be able to move their existing AutoPay mandates directly to another UPI app.
This means payments for OTT subscriptions, SIPs, insurance premiums, and loan EMIs can continue without needing to set them up again.
The new system is also expected to make it easier to view all your active AutoPay mandates, track upcoming payments, and manage subscriptions across different UPI apps.
Merchants Will Benefit Too
The change is expected to help businesses as well. If a company switches to a new payment gateway, it will be able to transfer customers’ existing AutoPay mandates more easily.
This means customers won’t have to register for AutoPay again, making the transition smoother for both businesses and users.
When Will This Feature Arrive?
NPCI introduced UPI AutoPay in 2020 to automate recurring payments such as subscriptions, loan EMIs, insurance premiums, and mutual fund investments.
According to reports, NPCI may officially announce this new interoperability feature during the upcoming Global Fintech Fest in Mumbai. However, the exact rollout date has not been confirmed yet.
