We are live with three new payment methods: Credit cards, UPI Autopay and Cards Autopay.
These new payment methods would allow for a more seamless payment experience, provide users with additional options to pay for their subscription fees and increase the payment options available for auto-renew plans.
- Credit Card payments for one-time subscriptions
Users can now pay for their one-time subscriptions using their credit cards. This is a powerful payment method and has seen highly encouraging adoption numbers.
It has quickly emerged as the second most popular payment method (only behind UPI) and has the highest payment conversion rate among all payment methods (UPI, netbanking and debit cards).
- UPI Autopay for auto-renew subscriptions
Users will now be able to set up recurring payment mandates (for values up to Rs. 5000) via UPI. Users can set up these mandates using their respective Payment Service Provider apps (Google Pay, Paytm, Phonepe, etc.)
- Cards Autopay for recurring subscriptions
Users can now set up recurring payments via standing instructions on their debit and credit cards (for values up to Rs. 15000).