UPI AUTOPAY: JIO becomes the 1st telecom operator to offer this:
National Payments Corporation of India (NPCI) notified that UPI AUTOPAY has now been introduced for the telecom industry starting with Jio, Which will gradually roll to other telecom operators.
Using the UPI AutoPay launched by NPCI, customers can now enable recurring e-mandate using any UPI application for recurring bills such as mobile recharge, electricity bills, EMI payments, OTT subscriptions, insurance premium, Monthly SIP for Mutual Funds among others. Users can also cancel, upgrade or degrade the recurring e-mandate through UPI Autopay.
UPI Autopay allows customers the luxury of not remembering all the dates for renewing monthly plans, it will deduct money from the customers' connected bank account automatically.
SPECIAL NOTES FOR ASPIRANTS:
- JIO is a subsidiary of Reliance Industries.
- JIO HQ- Mumbai
- JIO is the largest mobile phone operator in India.
- Unified Payments Interface[UPI] was developed by the National Payments Corporation of India.
- UPI introduced in 2016
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