InvestorQ : Can I make recurring transactions through UPI?
Ayushi Kampani made post

Can I make recurring transactions through UPI?

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krithika Saxena answered.
9 months ago

Well, earlier this facility was available only to card and wallet users. The Reserve Bank of India has recently issued the notification in this behalf and has allowed consumers to e-mandate for recurring payments made through UPI (Unified Payments Interface), this move by RBI will help in easing the small payments made at local stores and grocery shops.

With the help of this feature, the UPI users could be able to bypass additional factor authentication (AFA), when the payment is made a one-time instruction can be given to the UPI service provider and the payment shall be made every time on the basis of that standing instruction.

The Reserve Bank of India has notified that the same guidelines shall be applicable to these payments as were applicable to cards and wallets.

However, there has been a limit on the above transaction, which is of Rs. 2000. To begin with this facility on their devices, customers need to enter the name of the merchant, time frame for applicability of recurring payment and a payment limit as per guidelines of RBI.