RBI Urges Payment Firms to Consolidate All Mandate Views on a Single Platform
Central bank pushes for interoperability to improve transparency in recurring payments and strengthen consumer protection.
MUMBAI: The Reserve Bank of India (RBI) has urged the payments industry to develop an interoperable system that enables users to view all recurring payment mandates across platforms such as UPI and credit cards through a single interface. The move is aimed at enhancing customer protection amid the rapid growth of subscription based services.
Speaking at an industry event, RBI Executive Director P Vasudevan highlighted the surge in digital mandates, noting that nearly 87 crore standing instructions were created on UPI alone in February 2026. While UPI already offers a consolidated view of mandates within its ecosystem, he stressed the need to extend this capability across all payment instruments and service providers.
The proposed system would give users a comprehensive overview of their recurring payments, allowing them to manage subscriptions more effectively and avoid unintended outflows.
The RBI is also advancing several technology driven initiatives, including the development of a Digital Payments Intelligence Platform to generate real-time risk assessments for transactions. Efforts are underway to expand digital public infrastructure across payments, lending and identity systems, alongside exploring tokenisation beyond card-based transactions.
Additionally, the central bank is promoting the use of artificial intelligence tools for improving fraud detection and grievance redressal. However, it cautioned that such systems must be context aware to avoid creating unnecessary friction for users.
Reinforcing its vision, the RBI emphasised interoperability as a core principle for the payments ecosystem, encouraging industry players to integrate systems and deliver a seamless, user friendly experience.
