PhonePe, leading digital payments company, has registered over 1 million UPI-enabled AutoPay mandates since the feature was launched in June 2021.
This makes PhonePe the first digital payments platform to achieve this milestone. UPI AutoPay has been enabled on PhonePe for varied use cases such as mutual funds SIPs, Wallet Auto top-ups and for OTT subscription renewals.
Sonika Chandra, Vice President – Consumer Payments at PhonePe said, “This is a significant milestone for the Autopay feature and we are delighted to have achieved it within just 3 months of the launch. AutoPay is a big step forward for both customers and businesses as it provides a superior user experience and enables innovations around recurring payment based business models. We are nowfocused on enabling AutoPay for several more merchants and use cases and hope to scale it further significantly.”