The introduction of the UPI has eliminated the need for carrying cash or swiping physical cards. In June 2022, the National Payments Corporation of India (NPCI) allowed users to link their RuPay credit cards to UPI.
Certain banks, like Punjab National Bank, Union Bank, Indian Bank, HDFC Bank, Axis Bank, and more, have enabled this facility on their credit cards. This integration offers a convenient and secure way to make everyday purchases through third-party UPI applications using your RuPay credit card.
Understanding UPI Facility on RuPay Credit Cards
NPCI developed and launched the Unified Payments System (UPI)to facilitate fund transfers from one bank account to another. Initially, this facility was only available with debit cards. However, when RBI authorised the interlinking of credit cards managed by RuPay with the UPI ecosystem, it started providing a wider choice of merchants to credit card users. This is because most of the merchants have already set up QR codes for digital transactions. It also helps you make payments using credit cards at smaller retail stores with no point-of-sale (POS) machine.
Features of Top RuPay Credit Cards
Post the roll out, various banks have allowed you to link your RuPay credit card with UPI applications. With each of them providing some promotional offer or the other, choosing the right one that suits your spending preferences becomes challenging.
Check out the features of some of the credit cards hosted by the RuPay platform, which you can link with the UPI ecosystem:
Interest Rates and Other Applicable Charges
The interest rates on a RuPay credit card vary depending on the type of card you choose and your credit repayment history. Hence, it is crucial to compare credit card interest rates before you apply for one. Apart from these, credit card issuers also levy certain charges that may impact the cost of the card’s usage.
The following table provides the interest rates and applicable charges on some of the top credit cards provided by RuPay.
Disclaimer: The interest rates and charges provided in the table above may vary at the discretion of the card issuer.
The interlinking of credit cards with UPI has been a significant advancement in digital payments infrastructure. With the flexibility of credit cards within the UPI ecosystem, mobile-based payments will go upwards, offering greater convenience.
It will also ensure easier access to details of outstanding bills and instalments linked to your credit card. You can also manage your credit card bills conveniently by setting up auto-payments on the third-party UPI application.
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