Relief for PhonePe, Google Pay and Paytm users, all auto payments will now be visible at one place.

UPI Users: A new and useful feature is coming soon for those using UPI apps like PhonePe, Google Pay and Paytm. National Payments Corporation of India (NPCI) is building a system through which users will be able to view and manage automatic payments made across all their apps at one place.

Transactions will be visible on a single interface

Till now, users had to open each app separately to handle their AutoPay or e-mandate related payments. But after the introduction of the new feature, whether the payment is set up through Paytm or Google Pay, the complete list of all automatic transactions will be visible on a single interface. This will make it easier to manage subscriptions, bill payments and other auto payments.

Objective to simplify payment management

According to ET Telecom report, NPCI is developing a software system or interface that will be implemented in all UPI apps. Its objective is to provide better facilities to the users and simplify payment management.

Auto-pay feature becomes increasingly popular

The report also states that the auto-pay feature of UPI has become increasingly popular in the last few years. According to NPCI data, the top 10 banks processed about 1.6 billion e-mandate transactions in the month of May, which is almost three times more than the 577 million transactions in the same period last year.

The reason is not having sufficient balance in the account

However, as transactions have increased, the number of rejections has also increased. Especially in State Bank of India, about 70 percent of auto-pay transactions are being rejected, the main reason for which is said to be insufficient balance in the account.

NPCI’s chatbot based help portal

Through NPCI’s new system, users will be able to manage their auto-pay in a better way, which will reduce the problem of rejections and fines. Currently, NPCI’s chatbot-based help portal is also available for e-mandate related queries, which was launched last year.

UPI users are expected to get benefits

This new feature is expected to benefit crores of UPI users in the country, because now they will get the facility to control all their automatic payments from one place.