This feature will allow customers of PhonePe to set up a UPI e-mandate once, post which the company will automatically top up their wallet balance when it falls below the minimum below.
BS Reporter |
Last Updated at June 18, 2021 18:57 IST
Walmart backed PhonePe on Friday said it has launched an auto top-up feature for its payment wallet, using UPI e-mandate. This feature will allow customers of PhonePe to set up a UPI e-mandate once, post which the company will automatically top up their wallet balance when it falls below the minimum below.
“This means PhonePe customers can now make multiple payments using their wallet, without having to top up their wallet balance manually each time. Once the UPI e-mandate has been set up, users don’t need to enter any PIN or wait for an OTP each time they want to load their wallets or make a payment”, said the company in a statement.
“We are testing this feature end-to-end with the Wallet Auto Top-up launch for PhonePe customers and also working to make this available to merchants, payment aggregators, and other apps in the coming weeks”, the company said.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
First Published: Fri, June 18 2021. 18:57 IST