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RuPay credit card users can request EMIs via UPI app


TF Pioneer
RuPay credit card users can request EMIs via UPI app:

The National Payments Corporation of India (NPCI) has announced new updates for the RuPay credit card on the Unified Payments Interface (UPI) platform.

These enhancements are set to be implemented by May 31, 2024.

Among the key updates is the introduction of an Equated Monthly Installments (EMIs) feature, which will allow users to request EMI option directly from their linked credit accounts on the UPI app.

EMI introduction

EMI feature enhances user experience on UPI app

The new EMI feature will not only allow users to request an EMI facility directly from their linked credit accounts but also convert previous purchases into EMIs.
This can be done through the transaction history on the UPI app.
Currently, applying for EMIs might involve a separate application process within the merchant's website or store.
Additionally, users can now convert purchases into EMIs at the point of sale, adding another layer of convenience to their shopping experience.

Payment features

UPI app to display EMI details and enable payments

The updated UPI app will display existing EMIs, keeping users informed about their financial obligations.
It also enables users to manage their credit account bill payments and installments.
Users can make single payments or set up UPI Autopay for clearing their credit card bills or installments.
NPCI has also introduced a streamlined limit management function in the UPI platform.
This new feature allows users to accept or apply for an increase in their credit limit directly from the issuer.


TF Legend
wont it create problems or unnecessary conversions those who don't know what it will do, tap those links thinking it might give more details about transaction but instead it converted to 3 or 6 month EMI?

Its a nice feature and avoid another app to convert EMIs but UPI means users are high which contains people who don't know EMI much. Also, some rural people may take it and pay high interest, thinking will pay next month like that which never happens.

I know some credit checks will be there but I hope it gives clear idea to users when availing this facility.