You can use Google Pay as a form of payment when you buy IPOs through IPO mandates. You can apply for IPOs early, which reserves the money in your bank account.
Know what you need for IPO mandates
You can avail IPO mandates if you’re a Google Pay user in India. To apply for an IPO mandate, you need:
- Google Account
- Google Pay app
- United Payment Interface (UPI)
Find out how it works
- You can apply for an IPO through your broker with your Google Pay UPI ID.
- The broker enters your information in the Securities and Exchange Board of India (SEBI) system.
- You’ll get a notification on your Google Pay app, which you need to approve in order to apply for the IPO.
- To approve the mandate request, you need to enter your UPI PIN.
- If you get shares as part of the IPO, your broker will execute the mandate, and funds will be withdrawn from your account.
- You can check your shares on your broker’s website or app.