What is UPI mandate for PhonePe SmartSpeaker?

The UPI mandate is a new feature that allows you to set up an automatic payment for your SmartSpeaker subscription. It will deduct money from your account only if your settlement is not enough to cover your SmartSpeaker charges. 

Note: You can only set up a UPI mandate for a maximum amount of ₹149.

Related question(s):
Will the amount be deducted as soon as I set up the UPI mandate?