Definition
E-Mandate is an electronic authorization that allows businesses or banks to automatically debit a customer’s bank account for recurring payments like EMIs, utility bills, or subscriptions. It eliminates the need for physical paperwork and ensures timely payments.
Key Features
- Fully digital and paperless
- One-time setup via net banking or debit card
- Useful for recurring transactions
- Reduces the risk of missed payments
Also Read: Manage Your UPI Mandates with Paytm
It’s widely used for services that require regular payments without manual intervention.
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