With UPI mandates, you can effortlessly manage recurring payments for various services, including app store subscriptions, OTT platforms, utility bills, loan payments, and investments. By setting up automatic payments through apps like Paytm, you can ensure timely transactions without the need for manual intervention.
What is UPI Mandate?
A UPI Mandate is a pre-authorized payment instruction set by a user using the Unified Payments Interface (UPI) platform. It allows users to schedule recurring payments or authorize one-time future debits from their bank account at a specific date and time. UPI mandates are commonly used for Play store & App store subscriptions, OTT, utilities, loans & investments, and other automated payment scenarios.
Once a UPI mandate (UPI AutoPay of NPCI) is created, the amount will be debited automatically on the specified date without requiring further approval.
The following features are:
- Timely reminders: We’ll notify you 24 hours before your automatic payment is due.
- Flexibility: Pause or cancel your automatic payments anytime through the Paytm app
- No penalty charges: No penalty or extra fees for payment failures
- Convenience: No UPI PIN required for subsequent payments
Creating a UPI Mandate Through Paytm
With the Paytm app, setting up a UPI Mandate is seamless and secure. Whether it’s for Play store & App store subscriptions, OTT, utilities, loans & investments, here’s how you can create a UPI mandate using Paytm in just a few steps. The steps below explain to you how to do it:
- UPI Settings
- Automatic Payments
- Setup New
- Choose your bill category
- Verify and proceed to Setup Automatic Payments
- Enter your UPI PIN to authorize the mandate
- You’ll receive confirmation once it’s successfully created
Validating Your Active Mandates
To validate your active or pending mandates:
- Go to the Automatic Payments section under UPI Settings of your Paytm app.
- All your scheduled and completed mandates will be listed and will provide the payment details, frequency, payment history and mandate status.
What Is the UPI Mandate Limit?
The National Payments Corporation of India (NPCI) has set the standard UPI Mandate transaction limit at ₹1,00,000 for most general-purpose use cases. This means users can authorize payments of up to ₹1 lakh through UPI Mandates.
However, there are a few important things to consider:
- Your bank may set lower limits depending on your account type and risk profile.
- Certain categories like IPO applications or subscription merchants may have custom limits defined by the merchant and bank.
- For UPI Autopay-enabled merchants, the upper limit is often ₹15,000 per transaction for recurring payments, unless increased with additional authentication.
- It’s always a good idea to check with your bank or the UPI-enabled app (like Paytm) to know the exact applicable limit.
Are There Any Charges for UPI Mandate Setup or Cancellation on Paytm?
Currently, Paytm does not charge any fees for:
- Setting up a UPI Mandate
- Cancelling a UPI Mandate
- Modifying mandate details (where applicable)
However, since UPI is governed jointly by banks, NPCI, and payment service providers, your issuing bank may impose nominal service charges in certain cases—though this is uncommon.
For full clarity, it’s recommended to review the terms and conditions on your bank’s website or speak to customer care before initiating high-value mandates.
How to Cancel a UPI Mandate on Paytm: Step-by-Step Guide
If you no longer wish to continue with a scheduled payment, you can easily cancel your UPI Mandate directly through the Paytm app.
- Steps to Cancel a UPI Mandate:
- Open the Paytm app on your smartphone
- Go to UPI Settings
- Choose Automatic Payments
- Select the mandate to initiate cancellation
- Tap on Cancel Automatic Payment
- Authenticate the cancellation using your UPI PIN
If Automatic payment is cancelled, no money will be deducted and your services shall be discontinued. Any payments currently under process shall be completed, even after cancellation.
Conclusion: As you can see, UPI mandates are an easy, convenient and secure way to manage your recurring payments. With the Paytm application, you can set up, track and cancel UPI mandates with a few taps, freeing you of the burden of remembering when something is due or typing in a UPI PIN each time.
