UPI Autopay is a payment feature introduced by the National Payments Corporation of India (NPCI) that allows users to set up recurring payments for their bills, subscriptions, and other regular expenses. With UPI Auto payment, users can automate their payments, and the amount will be deducted automatically from their bank account at a specified frequency. To use UPI Autopay Service, the user needs to link their bank account with their UPI ID and enable the autopay feature. Once enabled, the user can set up recurring payments by providing the payment details such as the payment amount, payment frequency, and payment end date. Visit us at - www.fidypay.com

1. UPI-A COMPLETE
USER GUIDE
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To Its Working And
Advantages
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2. FIDYPAY
We at FidyPay have built the API stack
which enables the business of Bharat to
change the way consumers transact and
create a more digitally aware society by
deploying plug & play solution.
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UNIFIED PAYMENTS
INTERFACE(UPI)-A
COMPLETE GUIDE TO ITS
WORKING
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4. WWW.FIDYPAY.COM
We have always been big fans of the West when it comes to bringing technology
and innovation to any field. We have been following Basel norms for our banking
services. The Swift feature for interbank transfers isn’t alien to any banking
buddy. But one thing that has changed the banking industry for the better is the
UPI. Not just India but the world itself has witnessed how UPI has brought a
revolution when it comes to making payments.

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UPI which stands for Unified Payments Interface has made it super easy for
customers to make online payments. According to the stats, the number of UPI
transactions which stood at around Rs.90 crores in August 2016 touched Rs.480
crores just till December 2016. To add up more, this figure just crossed a value of
Rs.11 lakh crores in September 2022 according to NPCI.UPI has become an
inseparable part of our lives. This can be understood just by asking ourselves-when
was the last time we used a debit card to make an online payment?
Now, let’s understand what this UPI is and how it works!

6. What Is
Unified Payments
Interface(UPI)?
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The Unified Payments Interface(UPI) was launched in 2016. UPI was
developed by the NPCI(National Payments Corporation Of India)
which is a not-for-profit organization. It is an interoperable system
of making payments with minimum inputs. It helps in the
integration of multiple bank accounts into a single mobile portal.
This helps in enabling interoperability between multiple banks. The
payments are made using a 6-digit UPI PIN. A mobile number, UPI
ID, or a QR code can be used to make the required payment. The
only requirement is that the bank account needs to be UPI enabled.
The most important point to be remembered while making a UPI
payment is that it needs both the sender and the receiver to have a
UPI-enabled bank account. It can be used for a variety of payments
like paying for FasTag, groceries, DTH, loan EMIs, etc.
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STEPS TO CREATE
UPI ACCOUNT
You need to download a UPI
application
Input your mobile number and
bank account details
Create a UPI id and get your bank
account linked to it
Set up your Mpin
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9. The best thing about Unified Payments Interface is that it doesn’t need loads
of information or gadgets to make payments. It just needs a smartphone, an
active bank account, an internet connection, and a mobile number that is
linked to your bank account. Since you are now familiar with UPI, you should
also know about UPI Autopay. As the name suggests, UPI Autopay helps you
in making automatic payments. Let’s discuss more it in the next section.
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UPI AUTOPAY
Do you also have those grandparents at home who gets angry
when you miss recharging their DTH plan? Of course, they will
get angry.No one likes to miss their favorite daily soap opera.
So, to free us up all those day-to-day worries, RBI launched UPI
Autopay which lets us automatically pay our dues on a pre-
determined date.UPI Autopay has been developed by NPCI(a
not-for-profit organization) and is regulated by RBI.
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Following up with consumers for recurrent payments is a constant nuisance. However, UPI AutoPay
saves the day by enabling companies to receive automated bill payments by setting a predefined date.
UPI AutoPay enables users to make recurring payments through any UPI application. Customers now
have the option to enable e-mandate for recurring purchases, such as EMI payments, cellphones, DTH
payments, OTT memberships, insurance, and mutual funds, among other things. Having appropriate
payments sent automatically without any hassle is an added benefit. You are thus always secure,
stress-free, and receiving the proper assistance. Since it gives customers the ability to create, support,
amend, stop, and renounce auto charge mandates as needed, this component is safe to use.

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FEATURES OF UPI
AUTOPAY
Customers can make regular payments using the UPI
Autopay in a smart, practical, and secure manner.
Customers who use this feature won’t be under any
obligation to pay late fees. This element will give UPI,
whose usage has been increasing, another boost.
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13. SECURITY
Additional Factor of Authentication (AFA) has been used for
this by the Reserve Bank of India. In reality, this regulation was
put into place by the RBI to give clients more security.
Currently, the bank needs your consent before withdrawing
funds from your account. The bank will send you a message for
this, and payment will only be made following your approval.
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HOW DOES UPI
AUTOPAY WORK
To make a UPI Auto Pay payment at your
convenience, you can use any UPI application, such
as the BHIM UPI app. Every UPI application has a
“Mandate” option that allows you to configure for
Daily, Weekly, Monthly, etc. The fact that you can
generate it instantaneously and pay for it by the due
date is crucial.
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15. ADVANTAGES OF USING
UPI AUTOPAY
It enables users to set up automatic debit for any recurring payments made online. UPI
AutoPay is a blessing for both customers and merchants since it enables users to create UPI
mandates quickly and have their monthly expenses deducted automatically on preset dates.
Similar to customers, retailers benefit from early payment. UPI and UPI Autopay have added
value to the customers’ lives by enabling them to make payments with utmost ease. But
stopping, just at this, is not our economy’s goal. Recently, the Reserve Bank Of India launched
the UPI Lite feature at the Global Fintech Forum,2022. Let’s have a detailed look over UPI Lite
in the following section.
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16. UPI LITE
It is an on-device wallet mechanism, driven by NPCI, to enable quicker and
easier offline payments. You can conduct transactions without cluttering up
your passbooks or bank statements. It has a higher success percentage for
transactions. Additionally, UPI Lite is a scalable technology that aids banks in
better managing the load on their IT systems. India gains from the speed and
convenience of UPI Lite. A UPI pin is not even necessary.
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STEPS TO USE
UPI LITE
Download any UPI app
Enable Upi Lite by adding UPI funds
from your savings account to your
UPI lite wallet.
These funds will reside in the common
library of the UPI app which provides the
on-device wallet service.
Every time you transact you need to do a
secured login to the application. You can
either scan a QR, enter a UPI id or a UPI
number, or any existing flow on the
existing UPI.
Transactions below 200 can be done
via UPI Lite without using a UPI pin.
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18. In order to increase transaction success rates, improve user experience, and move us closer to
processing a billion transactions per day on the UPI platform, UPI Lite will lessen the debit strain on
the core banking system. The total cap for UPI Lite digital payment mode on a device’s wallet would
always be 2,000 rupees.UPI has evolved as a game changer in the payments ecosystem. The world has
already applauded this giant leap that India has taken toward accessible and dynamic payment
infrastructure. A sky-touching number of 39 billion financial transactions totaling $940 billion were
made possible by UPI in 2021, which is around 31% of India’s GDP.RBI is targeting to process a billion
transactions a day through UPI in the next five years.
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UPI GONE GLOBAL
Witnessing the huge success of UPI payments in India, many
countries are in the process of adopting UPI in their payments
ecosystem. Nepal has become the first foreign country to adopt
UPI. Within a population of three crores,45% of it are a banked
community. It has a mobile penetration of about 135% with 65% of
the population having smartphones. Thus, Nepal can leverage the
benefits of UPI to strengthen its payment infrastructure. And that’s
not the end, more than ten countries are in the process of adopting
UPI-based transactions in their payments ecosystem. Unified
Payments Interface has transformed the complete payments
ecosystem in India and is about to change it at the global level too
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THANK YOU
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