UPI Payment: If you pay for a subscription through Google UPI, then you will be able to pay for it automatically as well. This means that now your regular subscription will be automatically paid for. For this, every time the subscription will not have to be paid for. This feature will be available only for Google Play Store.
In fact, in 2020 itself, the Reserve Bank of India issued guidelines regarding recurring payment. Many changes were made in the subscription based payment model in these guidelines. It is believed that UPI Autopay may emerge as a special option.
How does UPI Payment work?
NPCI had launched UPI Autopay under UPI 2.0. Under this, users can do recurring payment through any UPI application. This makes it easy for users to pay for subscriptions. After selecting the subscription plan for any item, users have to tap on the preferred payment method in the cart. Here users will have to tap on “Pay with UPI”.
Saurabh Aggarwal, Head of Google Play Retail & Payments Activation in India, Vietnam, Australia and New Zealand, said, “We are always on the lookout for better payment methods to enable low app and in-app payments with ease. Now on the platform With the introduction of UPI Autopay, we are also adding the convenience of paying through UPI to subscription-based purchases.”
What is UPI Payment Auto Pay?
The National Payment Corporation of India launched UPI AutoPay in July 2020. Under this feature, users can give e-mandate through the UPI application. This mandate can be done for payments like mobile bill, electricity bill, EMI, OTT subscription etc. With this, users can easily pay for the subscription without any penalty or late fee.
In this, users can also choose payment options on regular basis like monthly, quarterly and payment can be made from Re 1 to Rs 5,000. Changes can also be made in it according to your own.
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