Google Play presents UPI Autopay for subscription-based purchases in India on Tuesday. UPI made its way on the platform as a payment option back in 2019.
UPI Autopay Feature
Google has claimed that it supports over 300 local payment methods in over 60 countries. The National Payments Corporation of India (NPCI) released the UPI AutoPay feature. It is for recurring payments from earlier this year in July.
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This feature lets customers set an e-mandate. For its cyclical expenses like phone bills, EMI payments, insurance, electricity bills, entertainment/ OTT subscriptions, and others.
Google announced on Tuesday that Google Play customers can now enable the UPI Autopay feature. It is available for subscription-based purchases in India.
Now the store brings a “Pay with UPI” option. This comes after customers select a subscription plan. Further, they have to approve the purchase in their supported UPI app. This step is suggested to help local developers in expanding their subscription plans.
UPI Autopay In India
The UPI Autopay made its way in India by NPCI in July. It lets users set e-mandates for recurring purchases through eligible apps. Moreover, the users will get one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half-yearly, and yearly mandates options.
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The introduction of UPI Autopay on Google Play came nearly a month after the new Reserve Bank of India (RBI) auto-debit rules came. It was made into effect on October 1.
Also, this change has reportedly impacted lakhs of customers in India. This change has been with recurring online transactions. Now all the auto-debit transactions such as subscription payments for Netflix or YouTube will enter a new process.
This will even be for international recurring transactions through credit and debit cards. Also, prepaid payment instruments (PPIs) have seen a change. RBI said in 2019, that these measures are aimed at restricting fraud.
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It even allows customers to stop recurring payments from their end. Also, remain notified about such transactions. Netflix India had already supported the UPI Autopay. It was in August earlier this year. Evidently expecting these new changes.