{"id":7555,"date":"2022-03-04T17:13:09","date_gmt":"2022-03-04T11:43:09","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=7555"},"modified":"2025-04-10T16:29:19","modified_gmt":"2025-04-10T10:59:19","slug":"the-winning-combination-of-phonepe-and-razorpay","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/the-winning-combination-of-phonepe-and-razorpay\/","title":{"rendered":"The Winning Combination of PhonePe And Razorpay"},"content":{"rendered":"

Do you remember the first time you made a UPI payment to continue watching your favorite movies and shows on an OTT subscription service? Wasn\u2019t it (significantly)less cumbersome as compared to making repetitive payments with transaction charges through credit\/debit cards?\u00a0<\/span><\/p>\n

Speaking of less cumbersome things, are you aware that businesses can now set up recurring debits (for their customers) through the UPI app?! Well, say hello to UPI Autopay! Auto-debits for a non-carded customer are now easier than ever before with UPI AutoPay being introduced to enable recurring payments.<\/span><\/p>\n

Building on the successful foundation laid by Unified Payment Interface (UPI), the National Payment Corporation of India (NCPI) has come out with another innovative payment solution called UPI AutoPay, which is already revolutionizing the entire landscape of digital payments in India.\u00a0<\/span><\/p>\n

This comes as a welcome change for Individual users and businesses, as mandates are now generated instantly and payments get deducted automatically on the authorized date.<\/span> This should not only assist existing businesses to serve a broader audience but also allow them to explore new revenue models by incorporating this feature.\u00a0<\/span><\/p>\n

For businesses across the country, payment solutions that allow the formalization of recurring mandates have turned out to be a <\/span>trendsetter <\/span>because earlier businesse<\/span>s could not collect monthly subscriptions and other recurring payments for their services.\u00a0<\/span><\/p>\n

But now, UPI AutoPay has filled this crater in the payments sector by allowing users to set up mandates via UPI applications for recurring paym<\/span>ents, which is, in turn, helping in customer satisfaction and retention from a business point of view.\u00a0\u00a0<\/span><\/p>\n

UPI AutoPay <\/span>is the fastest-growing payment product in India, with transactions<\/span> surging<\/span><\/a> 54% in volume since the beginning of 2021 till now. As of December 2021, 284 banks across the country have gone live with UPI.\u00a0<\/span><\/p>\n

Furthermore, it has also become recognized as an industry benchmark and has also gained international recognition, with several innovations under it being continuously sand-boxed and experimented with already.<\/span><\/p>\n

The journey and success of UPI AutoPay<\/span><\/h2>\n

The NPCI rolled out UPI AutoPay in 2020. Though it faced a slow start, UPI AutoPay has now picked up the pace, with over<\/span> 1.78 million mandates<\/span><\/a> registered with banks that have enabled the feature.<\/span><\/p>\n