UPI AutoPay is Here: Seamless SIP Payments on AssetPlus
- AssetPlus
- Sep 1
- 3 min read
Updated: Sep 4
Managing SIP payments just got a whole lot easier! With UPI AutoPay on AssetPlus via BSE, your clients can now set up and run their SIPs through a secure, mobile-first experience -no paperwork, no hassle.
In this blog, we’ll walk you through what UPI AutoPay is, how it works, and why it’s a better option for most retail investors.
What is a UPI Mandate?
UPI AutoPay (also called a UPI Mandate) allows investors to authorise automatic recurring payments directly from their UPI app.
Unlike traditional net banking mandates, UPI AutoPay is:
Faster: No long waiting periods.
Simpler: mobile-first setup in minutes.
Reliable: backed by UPI’s real-time infrastructure.
How does the UPI Mandate process work?
Partner Initiates the Mandate
From the partner dashboard, go to the client profile. Select ‘Mutual Funds’ and create a mandate from the ‘Mandate’ section.
Choose UPI as the mandate type.
Set a default limit of ₹15,000, sufficient for most SIPs.
Client Receives and Approves
Client receives a push notification + email link to set up AutoPay
The client opens the link, which prompts them to enter their UPI ID (Virtual Payment Address, or VPA).
Note: The VPA must be linked to a valid bank account, registered with AssetPlus, and provided through a supported UPI payment app.
The client must approve the mandate within ~50 minutes of triggering the auto-pay request using their UPI PIN.
A ₹1 debit is triggered within ~15 minutes of approval to confirm registration (this amount is refunded later)
Mandate Activation.
Once approved, the mandate becomes active after T+3 days.
SIPs will now auto-debit seamlessly from the client’s UPI-linked account.
Key Points to Note
Zero set-up charges – Free for clients.
No penalty for failed debits due to insufficient balance.
Lower failure rates compared to net banking.
Easier control – Clients can pause/cancel mandates directly from their UPI app.
Key FAQs
Why is ₹1 debited?
The ₹1 debit confirms that the client’s UPI mandate is active. Any failure in this process deems the mandate invalid, ensuring a smooth debit process in the UPI Payment App.
What if approval isn’t given in time?
If the client does not approve the mandate within ~50 minutes, the mandate expires, and the process must be re-initiated from the Partner Dashboard.
When does the mandate become active?
The mandate becomes active after T+3 days from successful approval, allowing SIP transactions to proceed as scheduled.
When should net banking mandates be used instead?
For large-value mandates (above ₹15,000) where UPI limits apply
If the user does not use UPI or prefers traditional banking
Why is ₹15k the default limit?
This limit ensures a seamless payment experience - SIPs under this limit don't need repeated PIN entries. For higher amounts, UPI PIN has to be entered at every debit.
Can client cancel the mandate?
Clients can cancel their mandates via the respective UPI application through which auto-pay has been enabled. We're confirming if BSE notifies us. However, they cannot cancel it through AssetPlus.
What if the wrong UPI ID is entered?
The mandate won't go through.
Why this matters for you as a Partner
With UPI AutoPay, your clients get a smooth, mobile-first SIP experience, which means:
Less friction in onboarding
Faster SIP activation
Higher client satisfaction and trust
It’s a win-win: simpler for your clients, stronger for your business.
