Currently, most of the population uses a subscription-based model. These models are affordable, convenient, and the preferred choice of people. However, businesses are facing challenges in recurring payments like failed transactions, delayed renewals, and customer churn. Surepass solves these issues with the UPI Autopay Solution.
What is UPI Autopay?
UPI Autopay is the Unified Payment Interface (UPI) feature. It allows users to set up automatic, recurring payments through authorization. This feature is used for recurring spending like subscriptions, utility bills, loans, and EMIs. It eliminates the need for manual payments and reduces the risk of failed transactions.
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Why do businesses need an Automation Solution in Recurring Payments?
These are common pain points on a subscription or installment model. Businesses often struggle with recurring payment management.
Pain Points
- Missed or delayed payments: Customers forget about the renewal dates. It leads to disruptions in service continuity.
- Manual Follow-Ups: Many businesses still spend so much time reminding customers about the payment.
- Payment Failures: The traditional card-based system is prone to declines due to expired cards, insufficient limits, or technical issues.
UPI Autopay: A Game Changer
- Gives High Success Rates: It has a lower payment failure rate as compared to the traditional methods, such as cards.
- Instant Mandate Setup: The Customer can easily authorize the recurring payment. No paperwork and no complex routing.
- Flexibility to Customers: Customers have control. They can pause, modify or change mandates.
- High Customer Reach: Millions of people are using the UPI payment mode for daily transactions. It helps cover a wide range of customers.
How does UPI Autopay Work?
Here is how UPI Autopay Works:
Setting Up Mandate
A mandate is a set of instructions that allows you to debit a specific amount at regular intervals automatically. You can set this by Surepass UPI Autopay. While setting up the mandate, you need to define:
- Amount
- Frequency
- Start date and end date
- Purpose
Auto-Debit Execution
On the due date, the system automatically debits the amount from your account. You don’t need to manually authorize each transaction. You receive a notification before payment so you can modify, pause, or cancel it if needed.
Transactions Limit and Controls
Autopay limit is ₹15,000 per transaction can be auto-debited without UPI PIN entry. For higher amounts. You can view, pause, or cancel mandates anytime from your UPI app.
Merchant Integration
For businesses (like OTPs, telecom, or insurance):
You can integrate UPI Autopay through platforms like NPCI’s e-mandate API. When the user approves a mandate, the merchant’s system will automatically receive confirmation and trigger future payments seamlessly.
Benefits of Surepass UPI Autopay Solution
These are the benefits of Surepass UPI Autopay:
- Flexible Scheduling: You can set payment intervals (daily, weekly, monthly, or fully custom) while setting up mandates.
- Retry Logic for failed Transactions: In some cases, if a payment fails. The system will automatically retry and improve collection rates.
- Wide UPI App Support: This solution supports almost all major UPI Apps (e.g., BHIM Paytm, Google Pay). So, you can tap into a broad customer UPI coverage.
- High Success Rate for recurring payments: They claim a higher transaction rate success when using the UPI Autopay solution.
UPI Autopay Use Cases
UPI Autopay is a necessary solution to be part of regular or repeated payments:
Subscription Services
You can set up AutoPay for monthly or yearly subscriptions. The payment will be deducted automatically on the renewal date. It will reduce the chances of a missed payment.
Example: Netflix, Spotify, Zee5, Hotstar, etc.
Mobile, DTH, and Internet Bills
Instead of recharging every month, you can enable UPI AutoPay. The recharge amount will be deducted automatically before expiry.
Example: Jio, Airtel, BSNL, or your broadband provider.
Loan EMIs and Credit Card Payments
Autopay confirms that your EMI or credit card bill is paid on time. It will help in maintaining a good credit score and reduce the chances of late fees or penalties.
Example: Home Loans, credit card bills, or personal loans.
Education Fees
Parents or students can set up Autopay to ensure that fees are paid on time every month or quarter, without manual reminders.
Example: Monthly tuition, coaching
Conclusion
Surepass UPI Autopay changes the way businesses and customers handle recurring payments. It brings automation, reliability, and convenience together. It eliminates the complexity of manual renewals and ensures smooth on-time transactions – whether for subscriptions, EMIs, or utility bills. This solution offers features like instant mandate setup, retry logic, and wide UPI app compatibility. Surepass solutions reduce churn and enhance customer experience. It offers complete control to pause, modify, or cancel mandates anytime.
FAQs
What is AutoPay in UPI?
UPI Autopay is a feature that allows automatic, recurring payments through Unified Payment Interface (UPI).
What types of payments can be automated?
Subscription services, utility bills, Loan EMIs, and credit payments can be automated.
How do I set UPI Autopay?
You need to:
- Specify the amount
- Choose the payment frequency
- Set the start and end dates
- Authorise the mandate via your UPI App
Can I modify or cancel an autopay mandate?
Yes, you can modify or cancel the mandate anytime.
Which UPI apps support Autopay?
UPI Apps, including BHIM, PhonePe, Paytm, and many others, support UPI Autopay.
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