Definition
AutoPay is a feature that allows users to set up automatic, recurring payments for bills, subscriptions, EMIs, or other services. Once set, the amount is deducted from your account or wallet on the scheduled date.
How It Works
You authorize a payment mandate once. After that, the system automatically debits the specified amount without requiring manual approval every time.
Benefits
AutoPay ensures timely payments, avoids penalties for late payments, and provides peace of mind by automating routine transactions.
Common Uses
Utility bills, loan repayments, insurance premiums, OTT subscriptions, and credit card bills.
Author
