What is a mandate in UPI?

A UPI mandate is a pre-authorised payment instruction that allows for the automatic deduction of funds from your bank account at a scheduled time. Introduced by NPCI, it simplifies recurring payments without requiring manual approval for every transaction. Key features include:

• Supports recurring payments like EMIs, insurance premiums, and OTT subscriptions.
• Enables one-time future payments for IPO applications or advance bookings.
• Users can easily create, modify, pause, or revoke mandates through their UPI app.
• Requires a one-time authentication using your UPI PIN for security.