20 Million UPI AutoPay Mandates Revoked Monthly Due to Failures

Imagine you set up automatic payments (AutoPay) on your phone for things like Netflix or loans.

Each month, the app tries to take money from your bank.

But sometimes, there's not enough money in your account.

When that happens, the payment fails.

In India, this happens a lot!

Over 20 million AutoPay payments fail every month because people don't have enough money.

This is happening with things like entertainment, loans, and investments.

Banks are seeing a lot of these failures, even though more people are signing up for AutoPay.

If you want to stop a payment, you can cancel it in the app you set it up with.