National Payments Corporation of India (NCPI), launched its one-stop fintech payment solution- UPI AutoPay in a virtual event of Global Fintech Fest. The feature is dedicated to recurring payments and can be used for multiple financial purposes such as utility payments, booking bus pass, train tickets, paying DTH subscriptions among others.
Nandan Nilekani, Co-founder and Non-Executive Chairman of the Board, Infosys, said, “We have long been planning a digital payments economy. And, now we are seeing a huge amount of digital payments, more than cash withdrawals. As we provide more and more such user-friendly services like UPI AutoPay we will see more and more adoption of digital payments. This is one of the national goals to increase the proportion of digital payments and reduce the amount of cash that we use in our economy.”