RBI E-Mandate for UPI – What Awaits at the Crossroads?

Automation has been a major driving force for innovation and experiential diversity in terms of the digital financial sector. One of the pioneering works of financial automation in India in the present time comes from a joint initiative between the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI), known as the “e-mandate” for UPI. The e-mandate forms the fundamental infrastructural foundation upon which recurring payment models can be developed and used by corporations to allow their customers to opt for subscription-based periodic transactions.

The recurring payment model remains a complexity for many businesses, owing to the restrictions that 2FA levies upon transactions.  With e-mandates being integrated with a transactional medium like UPI, customers do not have to depend upon their credit card/debit card to make recurring payments for ...

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