If you choose Google Pay to apply for the IPO then after applying for the bid in your trading accounts like Zerodha or Upstox or Angel broking etc.. you need to approve the mandate request in your Google pay with your authorization Pin.
After accepting the mandate the bid amount will be put in hold and it will be deducted only when the applicant gets IPO other wise the amount will be removed from hold request after 1 or 2 days from the date of announcement of IPO allotment.
Recently the IPOs like SBI cards, Happiest minds, and Route mobiles, CAMs, Chemcon IPOs, Angel borking, and UTI AMC were released. So if you are applying for any future IPOs then follow the below process to accept mandate requests in Google pay.
How to Accept Mandate through Google Pay
Step 1: Login in your Google pay account with your password and click on your profile photo.
Step 2: Now in new page click on settings option.
Step 3: In settings one-time mandate pending requests option will present, Now click on that and accept the mandate request with your Google pay authorization pin.
( I have already accepted the mandate request so it showing no pending request, other wise it will show the pending request)
After authorization of mandate request the bid amount will be put on hold and it will be deducted only if you get the IPO, until then the status will be seen as awaiting for withdrawal.
If you don’t get the IPO then the status will be changed to revoked and the amount will be removed from the hold. You can check the amount hold or not in your bank’s internet banking portal
FAQs on Google Pay Mandate Acceptance for IPO
Google pay mandate authorization process failed, should I need to bid the IPO again
Due to some server and technical issues, some applicants are getting authorization failed issues. So if you are also getting this problem then don’t do anything just leave it, within 30 mins to 1 hour the mandate approval process will be done automatically.
How much time will it take to execute mandate approval in Google pay
In general mandate, the request will execute immediately, but if the execution fails then it will be executed automatically within 30 mins to 1 hour( you don’t need to do anything for execution)
How to revoke UPI mandate request in Google Pay
Once the mandate request was approved then it can’t be revoked, you have to wait until the IPO allotment date. After the date, the amount will be debited or revoked based on your allotment status.
After how many days my amount will be removed from hold, if I don’t get IPO
With 2-3 days from the date of IPO allotment your amount will be removed from hold request.
How to get refund in Google Pay if I don’t get the IPO
You don’t need to do anything, the amount will be automatically removed from your hold request in your bank account. Still, if you face any problems then the final option is to contact Google pay customer care service.