Can I use UPI for recurring payments or standing instructions?
Curious about Unified Payments Interface
Yes, you can use UPI for recurring payments or standing instructions. UPI offers an AutoPay feature that allows you to set up recurring payments for bills, subscriptions, or other regular payments. With AutoPay, you can authorize the payment to be automatically deducted from your bank account on a specified frequency, such as daily, weekly, monthly, or as per the billing cycle.
To set up recurring payments or standing instructions using UPI, you would typically follow these steps:
1. Open your UPIenabled app or banking app that supports UPI.
2. Navigate to the Bill Payments or AutoPay section.
3. Select the service provider or biller for which you want to set up the recurring payment.
4. Enter the required details, such as the biller's UPI ID or registered mobile number.
5. Specify the payment frequency and duration for the recurring payment.
6. Review the details and authorize the setup by entering your UPI PIN or providing other required authentication.
7. Once the setup is complete, the recurring payment will be automatically processed as per the specified frequency.
It's important to note that the availability of the AutoPay feature and the process to set it up may vary depending on the UPI app or banking app you are using. You can refer to the app's user guide or contact your bank for specific instructions on setting up recurring payments or standing instructions using UPI.