NPCI reportedly plans UPI AutoPay mandate portability across payment apps
NPCI is reportedly set to let users move UPI AutoPay recurring-payment mandates between apps, while allowing merchants to shift mandate bases across payment gateways without requiring fresh customer registration. The proposal could be announced at Global Fintech Fest in Mumbai next month.
What happened
NPCI is reportedly preparing UPI AutoPay interoperability, enabling consumers to port recurring-payment mandates across apps and merchants to shift mandate
Key facts
- UPI AutoPay launched in 2020
- PhonePe held 45.89% of UPI transaction volumes in July
- Google Pay held 32.33% of UPI transaction volumes in July
- Paytm held 8.05% of UPI transaction volumes in July
Why this matters
Mandate portability could make gateway migrations and partnerships materially easier, increasing the strategic value of acquiring merchant-acquisition, orchestration and recurring-payments capabilities over captive mandate bases.