NPCl stands for National Payments Corporation of India (NPCI) UPI autopay service which is likely to turn on features on third-party apps.
The most popular third-party apps like Paytm, PhonePe, Disney+ Hotstar, and SBI BHIM, Bhim App to make transactions automatically under Rs. 5000. The UPI (United Payments Interface) apps, PhonePe, and Google Pay in the various rollout and testing phases.
The Reserve Bank of India (RBI) rules for card-based transactions that take effect in the next month. In India, most of the current currency transactions are based on card-based Rupay and Visa cards issued by the authorized bank.
Autopay’s feature is likely used by load payment, rent payments, educational fees, and subscriptions in India. The two of India’s latest OTT (over-the-top) streaming services are Netflix and Disney+ Hotstar went live with the UPI Autopay feature this month.
India’s learning UPI app PhonePe owned by Walmart takeover Flipkart becomes the second top payment app in India. With UPI, Co-founder of payment gateway Cashfree, Autopay has a lot of potential in India with great opportunity to expand India’s recurring payments market.