UPI Apps Look To Tap Recurring Payments Facility To Regain Momentum
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India, May 28 -- Even as the number of digital payment transactions declined in the countrywide lockdown, the Reserve Bank of India's go-ahead for e-mandates for recurring payments through Unified Payments Interface (UPI) could help payments apps make up for lost ground.
Some of India's most prominent UPI payments apps, and other fintech companies, are gearing up to bring recurring payments facility to users. A Moneycontrol report says Paytm, PhonePe and Google Pay have already partnered with lending platforms like Bajaj Finance, Tata Capital, Indiabulls Consumer Finance and others to process EMI payments on loans and purchases. The companies also plan to enable mutual fund payments thanks to the facility which was officially announced i...
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