The NPCI is preparing to introduce a new system for UPI users that will allow them to manage automatic payments from all their apps in a single location. This initiative will benefit both banks and millions of users across the country.

The NPCI is rolling out a new feature for users of UPI platforms like PhonePe, Google Pay, and Paytm. Users will now be able to view automatic payments from various apps within a single application. The objective is to provide a convenient, centralized facility for managing these payments—whether for OTT subscriptions or bill payments. For instance, if a user has set up one automatic payment via Paytm and another via Google Pay, they will be able to see a consolidated list of all such payments in one place.

New System Under Development

According to an ET Telecom report, the NPCI is developing an interface or software system that will be made available across all UPI apps, making it easier for users to manage their automatic payments. Currently, users must visit different apps to manage their various automatic payments; this new NPCI feature will simplify that process.

What Are the Benefits?

The report notes that the UPI ‘AutoPay’ feature has gained significant popularity over the past few years. NPCI data reveals that the top 10 banks processed 1.6 billion e-mandate transactions in May—nearly three times the 577 million transactions recorded in May of the previous year. However, the report also highlights a rise in the number of rejected transactions alongside the overall increase in transaction volume.

For the country’s largest public sector bank, SBI, only 30 percent of AutoPay transactions are approved, resulting in a rejection rate of 70 percent. These rejections often occur due to insufficient account balances. With this new NPCI feature, users can better manage their AutoPay settings and potentially avoid such rejections. Users also have to pay a penalty if the mandate is rejected.

Manage Auto-pay in One Place

Currently, users can visit the NPCI help portal to address queries related to e-mandates. Launched last year, this chatbot-based portal provides answers to user questions in a single location. This new feature within UPI apps will benefit millions of users across the country, enabling them to easily manage their automated payments in one place—within a single app—without needing to switch between different applications.