NPCI
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 among others.
Recurring
payments can be defined as payments that
are made every month or at least once
in three months.
The following
Seven Merchants as per NPCI website are Live on UPI AutoPay as on 15th
January 2021.
1.
Angel Broking
2.
CRY
3.
Goonj
4.
CAMS
5.
The Hindu
6.
PayG
7.
Danamojo
However, few merchants have yet
to update the UPI AutoPay facility on their website. Hopefully the merchants
will update the UPI AutoPay process on their websites very soon.
Angel Broking: Angel
Broking has become the first in the industry to offer Unified Payment Interface
(UPI) AutoPay for mutual funds, the company said. It has received approval from
the National Payments Corporation of India (NPCI) for the new service.
This
new implementation will simplify the process while cutting down the e-mandate
authentication time to less than a minute, Angel Broking said in a statement.
UPI AutoPay will eliminate the e-mandate registration cost as well and has
"made its management possible with the touch-of-a-button experience".
The
complete statement can be read @ https://www.livemint.com/mutual-fund/mf-news/angel-broking-to-allow-upi-autopay-facility-for-mutual-fund-11604660144945.html
CRY: As per
CRY website, it's Vision is " A happy, healthy and creative child whose
rights are protected and honoured in a society that is built on respect for
dignity, justice and equity for all."
As on date, CRY website does not mention about
UPI AutoPay as a way to donate.
In case
you wish to know more about CRY option for UPI AutoPay drop an email on
cryinfo.mum@crymail.org and wait for
a response.
Goonj: As per
Goonj website, Goonj envisions to grow as an idea across regions, economies and
countries using urban discard as a tool to alleviate poverty and enhance the
dignity of the poor in the world. Address basic but neglected issues of the
poor by involving them in evolving their own solutions with dignity and urban
material as reward.
As on
date, Goonj website does not mention about UPI AutoPay as a way to donate.
In case
you wish to know more about Goonj option for UPI AutoPay drop an email on mail@goonj.org and wait for a response.
CAMS: CAMS
offer’s UPI AutoPay via CAMSPay. CAMSPay is a Bespoke payment platform built
for Mutual Funds, NBFCs and Insurance companies to collect payments from their
customers.
In fact,
Angel Broking offers UPI AutoPay to its customers via CAMSPay only.
Read more
@ https://www.livemint.com/mutual-fund/mf-news/angel-broking-now-allows-upi-autopay-for-mutual-funds-11604558857577.html
Quote
Angel
Broking has partnered with CAMSPay to process UPI recurring payments. The
service will be integrated into its other platforms shortly as well.
Unquote
The Hindu: The Hindu
website has a detailed FAQ page regarding the various subscription plans.
The complete
set of FAQs can be read here : https://subscription.thehindu.com/recur_subscription
The UPI
Autopay for recurring subscriptions is yet to be officially announced on ‘The
Hindu’, website.
The following
specific FAQs may be helpful:: -
16. How
are digital subscriptions billed?
As a
digital subscriber, you can pay via debit or credit card, net banking,
e-wallet, UPI.
UPI and
e-wallet and net banking are not applicable if you have opted for a recurring
plan.
______
31. What
does a recurring plan mean?
If you
have selected a recurring plan, your subscription will get renewed
automatically when it expires, and payment will be deducted from your connected
account. Right now, recurring plans are available only on the 1-month and
1-year plans for our first time subscribers.
37. What
payment modes are accepted for recurring payments?
Recurring
payments are available via all credit cards, select debit cards (CITI, ICICI,
PNB, KOTAK). It is not available for payments via UPI, wallets and net banking
payment modes.
In case you are interested to more about ‘The
Hindu’, UPI AutoPay feature, drop a mail @
customersupport@thehindu.co.in
and wait for response.
PayG: PayG-
Unified Platform!. As per PayG's website, PayG is a customized, fully
integrated, Omni channel payment solutions provider will help your business to
grow by collecting payments from customers easily and securely through any
device in any mode.
PayG has
a dedicated webpage regarding UPI AutoPay. The page can be accessed @ https://payg.in/upi-autopay-the-next-generation-payment-platform.html
danamojo: danomojo
tagline is " experience the magic of giving". As per danomojo
website, it is 'India’s first payment solutions platform for NGOs'.
The UPI
AutoPay is enabled on danomojo website but is valid only for UPI users holding
an ICICI or SBI UPI id.
Please refer
to the below screenshot for more details.
Disclaimer: These are my personal views only. Trademarks if any rest with the original trademark owners only.
