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UPI platform is providing auto pay facility, can renew OTT subscription
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Reccuring Payment System: The new rule of Additional Factor of Authentication (AFA) of RBI with Auto Debit System has come into effect from 1st October. Under the new rule, OTT Platform or other such platforms cannot deduct money through auto debit for subscription renewal or bill without asking customers.
After this new rule of RBI is implemented, customers through UPI AUTO PAY, Recurring Payment like Mobile Bill, Electricity Bill, EMI Payment, Membership of OTT Platforms, Insurance, Mutual Fund, Loan EMI and Metro Payment For Recurring E-Mandate payment of Rs.5000 using any UPI application for Rs.
According to the National Payment Corporation of India (NPCI), if the auto debit amount is more than Rs 5,000, then customers will have to give their approval on email or message for each payment along with the UPI PIN. After this rule, many UPI based platforms have started the facility of auto pay. Using Auto Pay facility, customers can make Recurring Payments up to Rs.5000.
How to auto pay through UPI
How to set up Auto Pay on BHIM UPI
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