NPCI Introduce UPI Payments Through Rupay Credit Cards
By Srikanto Mandal
22 Sept, 2022
NPCI has introduced Unified Payments Interface (UPI) payment facelity for Rupay Credit Cards.
Earlier, debit cards and bank accounts were used to link UPI, now Rupay credit cards can also be linked.
RuPay credit cards will be linked to a Virtual Payment Address (VPA) UPI ID, it enables secure payment transactions directly.
Punjab National Bank, Union Bank of India and Indian Bank customers will first be able to use RuPay credit cards on UPI with the BHIM app.
According to the latest NPCI data, the volume of UPI transactions fell to 5.86 billion in June from 5.96 billion in May.
In value terms, transactions fell to 10.14 trillion rupees from 10.41 trillion rupees in the previous month.
UPI-linked Rupay credit cards enable scanning of QR codes at merchant outlets for payment instead of using POS terminals.