banknyou logo transparent

Streamline Payments with UPI Mandates

Enable seamless and recurring payments with UPI mandates through BankNyou. UPI mandates revolutionize the way businesses collect payments by allowing customers to authorize recurring transactions effortlessly.
Upi Mandates
What are UPI Mandates? ​

What are UPI Mandates?

UPI mandates are authorization instructions provided by customers to merchants, allowing them to debit funds from their bank accounts at predetermined intervals. This feature is ideal for subscription-based services, utility bill payments, loan repayments, and more.

Key Benefits of UPI Mandates

Convenience

Simplify recurring payments for your customers. Once authorized, payments are processed automatically at scheduled intervals without the need for manual intervention.

Flexibility

Offer flexible payment options with customizable mandates. Customers can set payment frequencies, amounts, and validity periods based on their preferences and payment agreements.

Cost-Effective

Reduce transaction costs associated with payment collections. UPI mandates typically involve lower fees compared to traditional payment methods, enhancing cost-efficiency for businesses.

Security

Ensure secure transactions with UPI’s advanced security features, including two-factor authentication (2FA) and encryption protocols. Protect sensitive financial information and build trust with your customers.

How It Works

Authorization

Customers initiate UPI mandates through their UPI-enabled banking apps. They authorize recurring payments by setting up mandates specifying transaction details and validity periods.

Processing

Once authorized, payments are automatically debited from customers’ bank accounts according to the agreed-upon schedule. Merchants receive timely payments, enhancing cash flow predictability.

Management

Easily manage and track UPI mandates through our intuitive dashboard. Monitor mandate statuses, track payment schedules, and access detailed transaction reports for reconciliation purposes.