UPI RUPAY CREDIT CARD LINKING

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.

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.

New RuPay payment mechanism using NFC: Know who will benefit from it and who may not need it

NFC sticker powered by RuPay: A silicon sticker powered by RuPay using near field communication (NFC) technology is set to be launched. This sticker can be fixed on any solid surface and requires no internet or power and is also waterproof. You can use this NFC sticker for payments at any NCMC enabled terminals in Assam ASTC, Delhi metro, Mumbai BEST, etc.

How to link Rupay credit card with UPI

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.

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.

AU Small Finance Bank launches array of products including Rupay credit card

AU Small Finance Bank (AU SFB) has introduced several new products to boost fee income, including the AU SPONT Rupay Credit Card and Secured Credit Card - NOMO. The NOMO Credit Card is AU SFB's first secured credit card, backed by a Fixed Deposit (FD), offering rewards and benefits like airport lounge access and fuel surcharge waivers. AU SFB has also launched the AU 0101 Business App for proprietorships and MSMEs, and the AU 0101 Version 2.0 for enhanced mobile banking. Additionally, they have introduced ATM Insurance and WhatsApp Insurance, offering innovative ways for customers to buy insurance.

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.

Razorpay sees surge in credit card-linked UPI payments: report

Overall, credit card-linked UPI payments and cross-border merchant payments are two major sectors which will drive growth in digital payments in the coming years, the Bengaluru-based payment aggregator said.

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.

Credit cards: How RBI could break the hegemony of Visa & Mastercard without tinkering with a dependable system

The Reserve Bank of India (RBI) is set to transfer the right to choose a card network, such as Visa, Mastercard, American Express, Diners Club, or RuPay, from credit card issuers with portfolios larger than 1 million cards to credit card holders. This move could lead to a shift from a market where consumers are spoilt for choice to one where the market may be spoilt by choice. The decision was prompted by the need to allow consumers to use RuPay-linked credit cards, which have been augmented by its interoperability with UPI.

RBI diktat to banks, credit card companies set to upend long-term integrations

For several years, banks have been dependent on deep integrations and partnerships with companies like Visa and Mastercard to make credit card operations profitable for them and attractive for customers. But now, given the choice, if consumers want to move to other card schemes like RuPay, those partnerships will get disrupted.

India launches UPI, Rupay Card services in Sri Lanka and Mauritius

India successfully launches Unified Payment Interface (UPI) services in Sri Lanka and Mauritius, with the first UPI transaction carried out by an Indian in Sri Lanka. RuPay card services are also introduced in Mauritius. This move strengthens digital connectivity and financial collaboration between the nations, benefiting travelers and enhancing financial integration.

How to use credit card for UPI transactions if you have Visa or Mastercard credit card

Visa and Mastercard credit card holders directly cannot use UPI payments by linking their credit cards. But by using a virtual RuPay credit card whose credit limit would be shared with the existing Visa or Mastercard credit card, an individual can make UPI payments using credit card. Presently only some banks like Kotak Mahindra Bank, HDFC Bank, Yes Bank, and others offer an virtual RuPay credit card.

RuPay credit cards on UPI in HDFC Bank, ICICI Bank, SBI and others: Annual fees, interest rate, key features

With the RuPay credit card on UPI feature, you can simply scan QR codes at merchant outlets and pay with the credit card via the UPI app.

RuPay credit card on UPI for Govt employees; all you need to know

IndusInd Bank on January 9, 2024, launched the UPI-enabled ‘IndusInd Bank Samman RuPay Credit Card’, in collaboration with National Payments Corporation of India (NPCI).

India's first corporate credit card on RuPay network launched; UPI transactions & lifetime free and more

IndusInd Bank claims to be the first bank in India to launch a corporate credit card on unified payment interface (UPI) network. This card can also be used for linking with an supporting UPI app and also offers both domestic and international airport lounge benefits. Check here for details about this RuPay credit card.

ICICI Bank allows UPI payments via RuPay credit cards; the 3 cards that can be used, how to link

Mumbai based private sector bank, ICICI Bank have enabled their range of RuPay credit cards (Coral, HPCL Super Saver, etc) to work on UPI. Customers of ICICI Bank RuPay credit cards can also enjoy reward points while transacting with their cards on UPI. Further the iMobile app by ICICI Bank can also be used for such payments.