RuPay Credit Card can be used for UPI Payments
This is a revolution in UPI payment to use a credit card for UPI payments and pay afterwards
UPI (Unified Payments Interface) has been a game changer in real time payments in India and has changed our habits completely. It was lunched at the right time, when we needed it most - Covid. Everyone wanted a contactless payment, and UPI was an instant hit. Definitely they built a solid infrastructure to deal with very very high no of transactions - so kudos to NPCI (National Payments Corporation of India) for that.
If you look at the statistics from yesterday, then you can imagine how robust the system is. Now usage of Cash is very limited which is good for economy . But from a consumer perspective , we always paid from our linked bank account, for UPI payments. My bank was teasing me with this new offer from quite some time - use the RuPay Credit Card for UPI.
It's a lifetime free Credit Card with zero joining and annual fees. So finally yesterday, I signed up for this, because using a credit card allows me to spend from credit and pay almost after 50 days. And it's linked to my primary credit card, so limits remains same. And there is a reward system, where they reward points based on transaction amount, so this will earn me some extra money on that front, and also contributing to the Credit Card Annual Spend ( its free as long as you hit that limit).
I did tested after one hour and it worked pretty smooth, except for the fact that they keep a limit of 5000 rupees on the first day as a safety measure. So if you have not set a Credit Card for your UPI payment, then this is high time to do that, to take the extra benefit of using your cash for 50 more days and even earn some interest out of it.
And everything is not rosy with UPI, its also the biggest source of fraud, because people easily get trapped by scammers, so take some extra precautions, to set a lower limit of that particular card as you won't pay a big amount in UPI usually. Also set up a different PIN (other than your debit) to authenticate Credit Card transactions on UPI - you will have to remember two passwords, but that's safe. Also do remember to use some anti-virus software on your mobile - licensed versions are better, but if you don't want that, then at least install some free version.
Do let me know, if you have set up and see benefit using a Credit Card for UPI Payments ? I installed the bank's mobile app to use this but most apps support this feature, you can check it here : https://www.npci.org.in/what-we-do/rupay/rupay-credit-card-on-upi .
And looking at the product features, I can see Cash withdrawal at merchant, P2P, P2PM, card to card payments are not permitted through this functionality but that's better for our safety.
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Now many banks are providing UPI credit cards and I also have the one from SBI cards. It's not free for life but the fee is just 499/ and I like using it because now I need not to spend money from my bank account. It works in most of the shops..
Also you can get some benefits if you link with the BHIM app. Let me know if you need more details about it. BHIM is the govt app and they're offering some cashback worth approx 750 I think..
Yes, share more details, never used BHIM, I was using PayTM, but plan to quit that.
I use Paytm also but using bhim also and this is such a nice app. Very good UI and works flawlessly.
https://www.bhimupi.org.in/bhimpeaslifaydahai
Refer the above link for offers details. Some offers are valid till 29th Feb they keep on updating the dates.
See the UI.
Now that the UPI usage is speeding abroad, I love the update
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No doubt this is very useful feature of Rupay card. The government is also pushing to use local gateway and the result is infront of us.
I have not used as I do not have any Rupay card yet.
I think, its good to have it to save some money.
Rupay UPI credit cards are getting more popular. I have an HDFC credit card but a few weeks back I got a fully digital rupay card from HDFC bank and its free for life. I use it with Paytm. Some QRs don't support credit card payments but most do.
@sagarkothari88 vote
it will be handy for the people who are cooking for credit card that could be used for upi payments.
The UPI usage is becoming popular day by day because I’ve read so many things about it
I hope it spreads here too
Cool. But I admit, I am still afraid of using credit cards because some of my relatives had issues.
Sounds interesting with unified payments. None such exist in our country.
I haven't had credit card yet, and my husband wants to get one, but kinda afraid.
https://twitter.com/lee19389/status/1763308744111219195
#hive #posh
Such things are good when they happen, they make life easier for people.
Todos los sistemas de crédito bien usados son excelentes.
To an extent, I will say it is worth the update
Is it interest free??
UPI has arguably changed market economy and definitely has stimulated the micro-payment. It's a boon when I look at sabziwala, trolly vendor, tea vendor accepting UPI payment of as little as 5 INR. And that too without the hustle of carrying cash, you can deal with it.
Thank you.
Jai Jagannath.
Yes, every credit card has a free window, and if you pay by due date, there is no charge. Usually, I set up auto debit, to pay by due date.
Then it's really good. it's almost like 50days interest free loan. I am not into credit card, so I don't have much idea.