Make recurring payments easier for your customers with UPI AutoPay in PayU subscription service: how to access Four Square Payments in India

We are very excited to announce that we have become a proud launch partner of the NPCI UPI AutoPay recurring payment feature. This means that PayU merchants will now also be able to offer their customers the option to set up or automate recurring payments through UPI with a one-time user authorisation.

NPCI's UPI AutoPay was recently launched at Global Fintech Fest. At PayU, we have always been committed to supporting growing businesses and furthering the fintech ecosystem. Continuing this tradition, we have partnered with NPCI to launch UPI AutoPay, and our team will be adding support for this feature under the same integration without any changes on the merchant side.

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UPI and the Growth of Regular Payments

The evolution of UPI has been quite remarkable. Since its launch in India in 2016, it has achieved multiple milestones and has become the most preferred payment method among Indians. In FY2020, UPI processed 12,519 million transactions with a total value of Rs. 21,31,730 crore, an increase of 1,321 TP3T in volume and 1,431 TP3T in value of transactions as compared to FY2019.

On the other hand, with advances in fintech, consumers are more willing to let companies automatically deduct the cost of a service or product. According to a report, 22.51 TP3T of companies have seen an acceleration in subscription growth rates.

With the current global epidemic COVID-19, payment via subscription is more convenient for customers. Offering your customers a subscription to your services also keeps your business running at this time. Offering customers a recurring payment option saves them the time and effort of purchasing the same items over and over again, making them more loyal to your brand.

UPI AutoPay in PayU Subscription Services

The convenience of UPIAutoPay combined with the power of the PayU Subscription Service is set to be a game changer for collecting recurring payments in industries such as OTT, insurance, leasing and more. You can learn more about how different businesses are using the PayU Subscription Service here.

Businesses can now leverage all recurring payment methods (credit/debit, NACH, and UPI) through a single integration with PayU Subscription Services. Check out how UPI recurring payments will provide a seamless and virtually frictionless experience for your customers below!

Benefits to Businesses of Using UPIAutoPay in PayU Subscription Services

Automate billing through our subscription API

Improvement of the cash flow of the enterprise

Provide a seamless customer experience

Provide customers with more favourable prices

Benefits of using UPIAutoPay for consumers

Payment of authorisation requests and cancellation at any time

UPI AutoPay's 24-hour advance notification feature ensures that customers know in advance what they will be charged, making it completely safe and secure.

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Now all businesses can easily offer subscriptions to any user with UPI and collect recurring payments with ease. Offering subscriptions means better coverage and locking in customers on your platform. So start using UPI AutoPay with PayU Subscription Services today!