Digital Payments and Transactions: Year-, Month- and Bank-wise Volume and Performance of Autopay UPI Payment Service Provider (PSP) Registrations and Transactions

High Frequency Indicator: The dataset contains year-, month- and bank-wise compiled data from the year 2021 to till date on the volume and performance of UPI Autopay Payment Service Provider (PSP) mandate registrations and transactions, along with percentage of transactions which have been approved, business declined (BD) and technical declined (TD) Notes: 1. Autopay is a system which gives the users the option to enable recurring e-mandate using any UPI application for making recurring payments such as mobile bills, electricity bills, EMI payments, entertainment/OTT subscriptions, insurance, mutual funds, etc. 2. Business Declines (BD) are declined transactions due to a customer entering an invalid pin, incorrect beneficiary account etc. or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. 3. Technical Declines (TD) transactions are those transactions are declined due to any technical reasons such as bank ID is empty or not in correct format or exception code not in Database or not in correct format, etc 4. Payer PSP is a system bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication. Using this function, a customer can enter their UPI PIN to approve a financial transaction or non financial request, wherever necessary. 5. Payee PSP is a system where a bank can onboard a customer/merchant and allow them to receive money on the basis basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.