How UPI AutoPay and UPI mandate works!!!

What is UPI AutoPay?

UPI AutoPay is a feature that allows customers to enable e-mandate using any UPI application without having to enter a PIN for every recurring payment such as mobile bills, electricity bills, EMI payments, insurance, mutual funds among others.

UPI AutoPay feature benefits both users and merchants as UPI mandates are generated instantly and payments get deducted automatically on the authorized date. A business can set the mandate for one-time, daily, weekly, fortnightly, monthly, bi-monthly, quarterly, half yearly and yearly recurring payments.

Requirements for IPO Mandates

Any Active UPI ID.

How does UPI AutoPay work?

  • A merchant that wants to offer recurring payments via UPI AutoPay needs to register with a recurring payments service provider like Cashfree that supports UPI AutoPay.
  • Merchant can offer the user the option to create e-mandate through UPI ID, QR scan or Intent.
    On receiving the e mandate authorization request, the user can open a UPI app, go to the mandate section, review the mandate details, – select the bank/debit card and enter the UPI PIN to authorize the e mandate.
  • Once the user authenticates, the bank account linked with the UPI ID will get auto-debited and the amount will flow to the merchant’s account as per the recurring payments terms.

How does UPI Mandate and AutoPay work with IPO?

Now you can use your UPI ID as a payment option while subscribing for IPO on National Stock Exchange(NSE) & Bombay Stock Exchange(BSE). Simply tell your broker to use UPI ID as the payment option while filling the IPO application.

List of UPI APPS who support UPI AutoPay and UPI mandate?

Sr. No.UPI Apps live on IPOHandle
1BHIM Baroda Pay (only Android)@BARODAMPAY
2BHIM Oriental Pay (Only Android)@obc
3BHIM RBL Pay (Android & iOS)@rbl
4BHIM (android & iOS)@upi
5BHIM ALLBANK UPI (only Android)@allbank
6BHIM Axis Pay (only android)@axisbank
7BHIM IndusPay (only Android)@indus
8BHIM Lotza UPI (only Android)@federal
9BHIM SBIPay (only android)@sbi
10BHIM YES PAY (only Android)@yesbank
11Citi Mobile (android & iOS)@citi & @citigold
12DigiBank – DBS (Android & iOS)@dbs
13Google Pay (android & iOS)@okhdfcbank, @okaxis , @oksbi, @okicici
14HSBC Simply Pay (android & iOS)@hsbc
15iMobile by ICICI Bank (android users)@icici
16Kotak Mobile Banking App (Android)@kotak
17Phone-Pe (android & iOS)@ybl
18SIB Mirror+ (only Android)@sib

Sr. No.Sponsor Banks live on IPO
1Axis Bank Limited
4Kotak Mahindra Bank Limited
5State Bank of India

Sr. No.SCSBs eligible to act as Issuer Bank (Customer Bank)
1Allahabad Bank
2Andhra Bank
3Axis Bank
4Bandhan Bank
5Bank of Baroda
6Bank of India
7Canara Bank
8Central Bank of India
9Citibank N.A
10City Union Bank
11Corporation Bank
12DBS Bank India Limited
13DCB Bank Ltd.
14Dhanlaxmi Bank Limited
15GP Parsik Sahakari Bank Limited
16HDFC Bank
17HSBC Bank
18ICICI Bank
19IDBI Bank Limited
20Indian Bank
21Indian Overseas Bank
22Indusind Bank
23Janata Sahakari Bank Ltd
24Karnataka Bank Limited
25Karur Vysya Bank Limited
26Kotak Mahindra Bank
27Nutan Nagarik Sahakari Bank Ltd.
28Oriental Bank of Commerce
29Punjab & Sind Bank 
30Punjab National Bank
31Rajkot Nagarik Sahakari Bank Ltd.
32RBL Bank Limited
33Saraswat Co-operative Bank Limited
34South Indian Bank
35Standard Chartered Bank
36State Bank of India
37SVC Co-operative Bank Limited
38Syndicate Bank
39Tamilnad Mercantile Bank
40The Ahmedabad Mercantile Co-operative Bank Limited
41The Catholic Syrian Bank Limited
42The Federal Bank Limited
43The Kalupur Commercial Co-operative Bank Ltd.
44The Lakshmi Vilas Bank Limited
45The Mehsana Urban Co-operative Bank Limited
46The Surat People’s Co-op Bank Ltd.
47TJSB Sahakari Bank Limited
48UCO Bank
49Union Bank of India
50United Bank of India
51Yes Bank