INDUSIND BANK RUPAY CREDIT CARD ON UPI
New credit card rules: HDFC Bank, Axis Bank, other banks customers cannot make credit card bill payments using CRED, PhonePe, Paytm
Credit card bill payment rules: As of July 1, customers with credit cards from major banks like HDFC Bank and Axis Bank will no longer be able to settle their credit card bills using third-party applications such as CRED, PhonePe, Amazon Pay, and Paytm.
Major credit card rule changes of big banks that will come into effect in July: SBI Card, HDFC Bank, ICICI Bank, Citibank
New credit card rules: Many major banks have implemented significant modifications to the credit card services. Let's examine the important changes to credit card services offered by these major institutions, which will take effect in July.
HDFC Bank credit card charges, rules to change from August 1, 2024: Know about new late payment fee, bill payment rules
HDFC Bank announced major revisions to its credit cardholders about terms and charges. The following changes to your HDFC Bank credit card charges will come into effect on August 1, 2024.
New RuPay UPI credit card rules: NeuCoins you will earn from UPI transactions on Tata Neu Infinity HDFC Bank Credit Card from August 1, 2024
Here is a look at changes that will come into effect for the Tata Neu Infinity HDFC Bank Credit Card from August 1, 2024, as per FAQs posted on the bank’s website.
Credit Card issuance soars despite worries over unsecured loans
Credit card base in India grew 18% YoY to reach 103 million, with HDFC bank adding the most new cards. However, Kotak Mahindra bank saw a sharp drop amid RBI restrictions. Card spending also grew 17% YoY to reach Rs 1.65 trillion. The credit card industry has seen a continuous decline due to caution about large unsecured loans and asset quality issues.
Flipkart launches beta version of its new fintech venture, Super.Money
Ecommerce major Flipkart launched a beta version of their financial app, Super .Money, on the Google Play Store. This app aims to be a one-stop shop for digital financial needs, offering features like payments, credit, and deposits.
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Banks seek clarity from RBI on credit card network norms
Several banks have sought clarity from the Reserve Bank of India (RBI) regarding guidelines that mandate offering existing credit card customers a choice of networks like Rupay, Visa, and MasterCard. As per RBI's guidelines issued in March, card issuers must provide this choice both during initial issuance and at the time of renewals. A senior bank executive informed ET that banks have sought clarification on whether this choice of networks should be extended to all existing customers or only implemented during renewal processes.
Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS
RBI mandates credit card bill payments through BBPS, but only 8 of 34 banks are live on the network, causing concern among payment companies like PCI for an extension.
New UPI-enabled Rupay credit card launched by Federal Bank: How to apply, cashbank offers, reward points
Federal Bank RuPay Wave Credit Card enhances your transaction experience with convenience and rewarding opportunities. With this card, you can enjoy cashback and unparalleled rewards on your purchases.
Credit on UPI: How to make payments using credit on UPI, how to enable on your UPI ID, who can use
With the help of credit on UPI, people and companies can obtain bank credit lines that have already been approved. Now customers can scan to use their credit on UPI with ICICI Bank mobile app’s PayLater option.
Top startup & tech stories this week
Welcome to a brand new edition of ETtech Unwrapped – our weekend newsletter. The week was packed with important stories broken by our reporters. Here’s a recap if you missed them.
UPI integration gives a fillip to RuPay credit cards distribution
RuPay credit cards are seeing a growth in usage after linking with UPI, with its issuance at 30%, up from a mere 5% in 2022-23. The shift towards UPI-based credit cards on third-party apps like Google Pay and PhonePe poses a challenge for banks, raising concerns about customer retention and cross-selling. Fintech startup Fibe, led by Ashish Goyal, foresees a potential share struggle among top UPI apps.
SBI Credit Cards rule change: Reward points not applicable on 22 credit cards for government transactions from July 15
SBI Card announced that accrual of reward points on government related transactions will be discontinued for certain credit cards from July 1, 2024. List of SBI Credit Cards where reward points will not be applicable on government related transactions.
UPI boosts RuPay market share; cost pressure for gaming firms
Happy Thursday! The integration of UPI with RuPay credit cards has pushed up new issuances but transaction growth hasn’t kept up. This and more in today's ETtech Morning Dispatch.
HDFC Bank debit, credit cards will not be working on these two days: Check details
HDFC Bank has notified customers via email and SMS that all HDFC Bank debit, credit, and prepaid card transactions would be temporarily unavailable during an update period.
New RuPay credit card on UPI launched: Attractive reward points on online, UPI, offline transactions; lifetime free, other features
IndusInd Bank and Poonawalla Fincorp have launched a co-branded RuPay Platinum Credit card. This card offers reward points on everyday spending on e-commerce websites, including UPI transactions and point-of-sale machine transactions. It has no joining and provides benefits like movie ticket offers and fuel surcharge waivers. All you need to know about IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card.
B2B fintech startup Vegapay raises $5.5 million from Elevation Capital
Vegapay had raised $1.1 million in its first institutional funding round in 2023 led by Eximius. According to the company, the newly raised fund will be used to enhance Vegapay’s product suite, focusing on product development and regulatory compliance.
A new weapon against online payment frauds: Timely alerts on transactions via UPI, debit card, credit card, Net and mobile banking
Fraud transactions: Banks like Standard Chartered Bank, HDFC Bank, ICICI Bank, and others have implemented a fraud protection measure wherein the bank will call you for transaction confirmation if it feels that these transactions are fraudulent. However if you give the confirmation, the transaction will go through. Know here how it works.
HDFC Bank net banking, mobile banking, UPI will be down during this time
HDFC Bank has informed its customers that net banking, mobile banking will not be working on May 25 for a certain period of time. HDFC Bank customers were informed about scheduled maintenance work being done due to which below services would have been impacted
Maldives to launch India's RuPay service amid bilateral tensions
Despite recent turbulence in bilateral relations, the Maldives is set to launch India's RuPay service, a move expected to strengthen the Maldivian Rufiyaa. Minister of Economic Development and Trade Mohamed Saeed highlighted the significance of the upcoming launch, emphasizing the administration's priority to address currency issues and reinforce the MVR. While no specific date has been announced for the launch, discussions are underway with India to facilitate payments in rupees within the Maldivian territory.
New PoS deployment grows at slowest pace since demonetisation: RBI data
Industry insiders told us that while new PoS terminals are still being deployed, it’s mostly in organised and large format retail, which offer all payment forms. However, grocery shops, smaller stores and eateries are tilting towards QR code-based UPI transactions.
Brazilian payment company Ebanx set to start India operations with Yes Bank
Ebanx helps nearly 300 brands process payments in multiple countries across Latin America and Africa. It now wants to enter India, which will be its first market in Asia. It will offer payments infrastructure for global brands looking to sell to Indian consumers, who can use Ebanx to pay through the local currency and by using local payment methods.
Virtual RuPay credit card on UPI launched: Earn 8 reward points on every UPI payment of Rs 200; know features, other key details
YES Bank has partnered with ANQ, a Bengaluru-based financial service provider to unveil two unique co-branded credit cards — YES Bank ANQ Pi credit card and YES Bank ANQ Phi credit card. What are the features of these two new credit cards? Find out here? Find out here.
Credit card on UPI: Who is eligible, which apps allow it, daily limit and more
If you have a RuPay credit card, you can link it to any of the applications and use it to pay through the Unified Payments Interface (UPI). In short, now you can make transactions through UPI using a RuPay credit card.
RuPay credit cards of HDFC Bank, Axis Bank, IDFC FIRST Bank, SBI Card: Cashback, annual fee, discounts
The RuPay credit card was launched in 2017 and these enable secured payments for purchasing goods and services at merchant locations in India as well as abroad. Given below are the top credit cards available on the Rupay network chosen basis the overall value back they offer in their respective spending category.
3 new RuPay credit card rules: NPCI's new features for RuPay credit card
The National Payments Corporation of India (NPCI) has announced new features for the RuPay Credit Card include EMI facility on the linked credit accounts on UPI app, Credit Account Bill Payment, Instalment Payment and limit management. The NPCI has asked issuing entities like banks and card issuers to enable these features by May 31, 2024.
3 new Rupay credit card rules: Now apply for EMIs, pay credit card bill, increase limit via UPI app; check details
Rupay credit card rules: The new features announced include EMI facility on the linked credit accounts on UPI app, Credit Account Bill Pavment, Instalment Payment and limit management. The NPCI has asked issuing entities like banks and card issuers to enable these features by May 31, 2024.
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