Meaning
A UPI Mandate is a pre-approved instruction that allows automatic debit of funds from your bank account at a scheduled time. It’s commonly used for subscriptions, EMIs, and advance bookings.
How It Works
You approve a mandate for a specific amount and date. The funds are reserved in your account and automatically debited when the due date arrives.
Use Cases
UPI Mandates are ideal for recurring payments and one-time authorizations where money is deducted at a future date.
Read More: Manage Your UPI Mandates with Paytm
