In India, Google Play Store now supports UPI autopay for subscription-based purchases.
- The NPCI introduced UPI Autopay in India in July.
- Users can set up one-time or yearly payment requirements.
- Google claims to support more than 300 national payment options across more than 60 nations.
On Tuesday, Google Play launched UPI Autopay for subscription-based transactions in India. The platform first introduced UPI as a payment choice back in 2019. Google asserts that it supports more than 300 regional payment options in more than 60 nations.
The UPI AutoPay feature for recurring payments was introduced by the National Payments Corporation of India (NPCI) in July of this year. Customers can use it to set up e-mandates for recurring costs such as phone bills, EMI payments, insurance, power bills, entertainment/OTT subscriptions, and more.
Google said on Tuesday that users of Google Play in India may now make subscription-based payments using the UPI Autopay feature. After users choose a subscription plan, the store now has a 'Pay with UPI' option. In July, NPCI introduced UPI Autopay in India.
Through compatible apps, it enables customers to set up e-mandates for recurrent transactions. Additionally, users have the option of setting up one-time, daily, weekly, biweekly, monthly, bimonthly, quarterly, half-yearly, and annual mandates.
Nearly a month has passed since the new Reserve Bank of India (RBI) auto-debit regulations went into effect on October 1 before UPI Autopay was made available on Google Play.
According to reports, this shift has an effect on thousands of Indian clients who regularly conduct online transactions. A new procedure is now followed for all auto-debit transactions, such as Netflix or YouTube membership purchases.
Even international recurring transactions made with prepaid payment instruments (PPIs) and credit and debit cards have been impacted. These steps, according to the RBI's 2019 announcement, are intended to limit fraud. Additionally, they enable clients to cease recurring payments themselves and to keep track of such transactions. It appears that Netflix India enabled UPI Autopay support in August of last year in anticipation of these changes.