In India’s fast-moving digital economy, recurring payments have become essential for businesses that rely on predictable cash flows whether it’s for EMIs, insurance premiums, SIPs, education fees, or utility bills.
Behind the scenes of every successful recurring payment lies a critical step: mandate registration. This process authorizes the business or financial institution to automatically collect payments from a customer’s account at regular intervals. Without a valid mandate, the recurring flow collapses.
However, for banks, NBFCs, insurers, and fintechs processing thousands or even lakhs of mandates every day, the traditional process of setting up mandates is outdated, slow, and error prone. That’s exactly where Paycorp steps in with a game changing innovation.
The Real Problem with Traditional Mandate Registration
Conventional NACH e mandate and UPI Autopay for recurring payments depend on verifying a customer’s full account number and IFSC code, followed by a debit or credit transaction. While this might seem straightforward, at scale, it introduces major challenges:
🔸 Error Prone Entry: Customers often make mistakes entering long account numbers or IFSC codes, especially on mobile devices or during agent assisted onboarding
🔸 Delays Due to Bank Dependency: Mandate approvals rely on the availability of core banking systems. If the customer’s bank is offline or slow to respond, the process is delayed
🔸 Drop offs and Abandonment: Each extra step in the flow like entering bank details or waiting for OTPs becomes a chance for customer abandonment
🔸 Not Built for Scale: Institutions processing mandates in bulk face huge backlogs when banks cannot handle thousands of validations simultaneously
As a result, businesses lose valuable time, face delayed collections, and struggle with poor conversion rates. This directly impacts cash flow and operational efficiency.
The Overlooked Solution: PAN and Customer ID
Almost every bank or financial institution already holds strong, verified KYC data for its customers including PAN numbers and unique internal Customer IDs. These identifiers are already mapped securely to the customer’s bank account.
Yet until now, these trusted identifiers were never used for mandate registration.
This was the missed opportunity. A simpler, faster way to onboard mandates without requiring sensitive account details.
The Paycorp Breakthrough
Paycorp is proud to be the first in India to go live with NPCI’s PAN and Customer ID based authentication, a first of its kind solution that sets a new benchmark for payment security, customer experience, and operational scalability.
With this innovation, institutions can now:
✅ Register mandates using only PAN and Customer ID without account numbers or IFSC codes
✅ Authenticate mandates faster and more securely
✅ Simplify workflows for both the end user and backend systems
✅ Integrate easily using Paycorp’s unified Recurring Payment API
This is not just a concept. It’s a fully live, production tested capability available today for high volume mandate processors.
How This Innovation Helps
The move to PAN and Customer ID authentication has powerful real world benefits:
🔹 Speed: Without the need to validate account level details, the entire registration process becomes much faster
🔹 Higher Success Rates: Fewer input fields mean fewer errors and higher completion
🔹 Security: Sensitive bank account data is never exposed or stored during the mandate process
🔹 Scalability: Institutions can process tens of thousands of mandates daily without overloading core banking systems
🔹 Customer Experience: Mobile first journeys become smoother, faster, and more trusted
🔹 Regulatory Alignment: PAN and Customer ID are already part of the verified KYC stack
This fits perfectly for companies looking for a recurring payment platform that works seamlessly across NACH, eNACH, and UPI Autopay, and who want to reduce friction in customer onboarding.
Why This Matters More Than Ever
With the rise of subscription based businesses, digital lenders, and policy based products, recurring payments are no longer a niche. They’re the new norm. But while payment collection methods have evolved, the mandate infrastructure hasn’t kept pace.
Institutions using legacy methods still suffer from:
- Low registration success rates
- Unpredictable onboarding timelines
- High support overheads for failed mandates
- Inconsistent customer experience
By choosing a smarter, API driven, and secure mandate framework powered by PAN and Customer ID, you’re not just solving an internal issue. You’re creating a better experience for your customers.
That’s what makes Paycorp more than just a recurring payment solution provider. We’re a transformation partner.
Looking Ahead: It’s Time to Modernize Your Mandate Infrastructure
Digital transformation is not just about adding technology. It’s about eliminating what slows you down. If your organization is facing:
- High drop offs during mandate registration
- Manual dependency on customer data entry
- Bulk processing delays
- Complexity in integrating with multiple systems
Then it’s time to rethink your approach.
Paycorp’s PAN and Customer ID based mandate authentication is live, tested, and trusted. It’s ready to help you scale.
Whether you’re a bank, insurer, NBFC, or fintech looking for a secure and efficient eNACH service provider, we’re here to support you with:
🔹 API based recurring payment platform
🔹 Ready to integrate NACH software
🔹 End to end onboarding support
🔹 99.5% plus success rate in recurring collections
Want to see how it works?
Let’s connect. We’ll show you how your institution can move from friction to flow and transform the way you handle mandate registration forever.
📩 Get in touch at info@paycorp.io
🌐 Learn more at www.paycorp.io
