- The 'MandateHQ' is a payment interface which help card-issuing banks to enable recurring payments for their customers.
- The MandateHQ will be integrated with more than 50 banks in the next 12 months.
- It is an Application Programming Interface that is based on a plug-n-play solution. It will help to reduce go-live time for card-issuing banks.
- The payment interface will allow banks to implement RBI’s new framework to automate debit and recurring payments.
- It will help banks to manage, view, update, cancel, pause the processing of debits of mandates in an easy manner.
- Static Part:
- HQ of Razorpay: Bangalore
Question:
a. Razorpay
b. Mastercard
c. NPCI
d. Both (a) and (b)
