#Payments / Google Pay, PhonePe To Offer Auto Debit In India

Google Pay and PhonePe, digital payment providers, are collaborating with the National Payments Corporation of India (NPCI) to offer recurring payments… The deal will enable customers to opt-in for automatic monthly payments for utility bills, installment payments, subscriptions, insurance premiums and more. The two apps have as many as 70 million users…

The product is still under development and must be tested before being offered to millions of users…

[Participating bank:] “UPI auto debit feature will transform recurring payment facilities and help merchants ease up the payments process, there are more than 10 banks which have started this… More will be joining the ecosystem.”

In May, there were reports regulators in India were investigating Google over antitrust issues amid charges that the tech giant is using its market dominance to unfairly pitch Google Pay.

https://www.pymnts.com/digital-payments/2020/google-pay-phonepe-offer-auto-debit-india