Indian telecom users to enjoy touchless payment via UPI AUTOPAY

By Puja Sharma

Jio’s integration with UPI AUTOPAY has made it the first player in the telecom industry to go live with the unique e-mandate feature that was launched by NPCI.

NPCI and Jio (Reliance Jio Infocomm Limited) have introduced UPI AUTOPAY for the telecom industry. Exclusive for Jio customers—they can set standing instructions on the MyJio App using UPI AUTOPAY for their favourite tariff plans and enjoy a hassle-free recharging experience. Jio’s integration with UPI AUTOPAY has made it the first player in the telecom industry to go live with the unique e-mandate feature that was launched by NPCI.

JIO has become the first in the industry to roll out UPI for both prepaid and postpaid users.

NPCI had also launched UPI 2.0 to offer more secure and comprehensive services to consumers and merchants. It is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payments solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.

What does it mean for the user?

Jio users will no longer need to remember their date of recharge once the validity ends. The plan opted by the users would be auto renewed on the set date. For recharge amounts up to INR 5000, customers do not even have to enter the UPI PIN on the execution of the recharge. Users can also create, modify as well as remove the e-mandate for the tariff plans as per their requirements through UPI AUTOPAY.

“We are glad to associate with Jio and witness UPI AUTOPAY venturing into the ever-evolving telecom sector. We believe our collaboration will change the way Jio customers experience a renewal of their mobile tariff plans. With UPI AUTOPAY, it’s our constant endeavour at NPCI to provide an extra layer of comfort and convenience to all the customers for their recurring spending and payments. We believe that this integration will drive a favourable customer sentiment about seamless and automated recurring payments,” Kunal Kalawatia, Chief of Products at NPCI said.

National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country.

Mr. Kiran Thomas, Director of Jio, said: “The combination of Jio’s superior prepaid and postpaid plans and UPI AUTOPAY will now be available to every Jio user. Users will no longer need to remember their recharge renewal date or bill payment date and perform manual payments. This will enable an always-on service experience for every Jio prepaid user.”

A growing number of telcos around the world are expanding beyond mobile payments and mobile payment systems with consumer financial services such as loans, savings, and insurance in addition to mobile phone payment services. A few notable names are :

• M-Pesa: Mobile payment carrier changed into serving nearly 25 million clients in Kenya. The fulfilment of M-Pesa has enabled cell operator Safaricom to increase right into an extensive variety of economic services, geared toward each client and business, significantly farmers.
• Paycell: A mobile payment service for consumers and merchants that facilitates in-person and online shopping processes, including bill payments, auto fuel purchases, mobile money transfers, and QR code payments. Paycell’s mobile payment business saw good growth in 2020 as e-commerce and cashless payments soared during the pandemic.
• Orange money: In Africa, Orange Money gives virtual bills and cash transfers in 18 nations and Romania. It has additionally extended its offerings to savings, loans, and coverage merchandise in pick-out markets. The provider is usually unbiased of Orange’s telecoms networks with the Orange Money pockets related to the purchaser’s smartphone number. At the stop of 2020, the Orange Money purchaser base comprised nearly 22 million lively customers, up 20% year-on-year.