RuPay Credit Cards To Be Linked To UPI: Experts Discuss The Impact Of RuPay UPI Payments & More

Indianomics: You can pay over #UPI using RuPay credit cards. How does that change your life ? Latha Venkatesh talks to Dilip Asbe, Kunal Shah, Parag Rao & Akhil Handa on the impact of #RuPay UPI payments.

Summary of discussion from last evening with Latha Venkatesh at CNBC-TV18 along with Dilip Asbe (CEO of NPCI), Parag Rao from HDFC bank and Kunal Shah . Topic - future of payments on linking UPI and credit cards.

# HDFC bank is almost ready to Go Live with RuPay Credit Card linked UPI
# Axis bank is also interested on RuPay Credit Card linked with UPI

#UPI linkage with #RupayCreditCard positive Impacts:

# Highly secured in terms of card data.
# No need to Carry Physical cards, henceforth zero risk for lost and theft.
# Pre-Approved credit line by banks.
# High penetration of credit cards, falls under top 3 most used payment mode in terms of transaction count.
# Auto Debit functionality via UPI on card.
# Credit card Bill payment via UPI, hence increase in traction on mode of payment as UPI.
# Active participation of other banks in Rupay Credit Cards.
# High penetration of UPI transactions in foreign countries where UPI is launched.
# PPI wallet upload with #RupayCC via UPI

to know more on this listen from Industry experts -

 

[Batmanbaba]

Easy rotation of money by doing spends less than 2000

 

[rp0703]

Indianomics: You can pay over #UPI using RuPay credit cards. How does that change your life ? Latha Venkatesh talks to Dilip Asbe, Kunal Shah, Parag Rao & Akhil Handa on the impact of #RuPay UPI payments.

Summary of discussion from last evening with Latha Venkatesh at CNBC-TV18 along with Dilip Asbe (CEO of NPCI), Parag Rao from HDFC bank and Kunal Shah . Topic - future of payments on linking UPI and credit cards.

# HDFC bank is almost ready to Go Live with RuPay Credit Card linked UPI
# Axis bank is also interested on RuPay Credit Card linked with UPI

#UPI linkage with #RupayCreditCard positive Impacts:

# Highly secured in terms of card data.
# No need to Carry Physical cards, henceforth zero risk for lost and theft.
# Pre-Approved credit line by banks.
# High penetration of credit cards, falls under top 3 most used payment mode in terms of transaction count.
# Auto Debit functionality via UPI on card.
# Credit card Bill payment via UPI, hence increase in traction on mode of payment as UPI.
# Active participation of other banks in Rupay Credit Cards.
# High penetration of UPI transactions in foreign countries where UPI is launched.
# PPI wallet upload with #RupayCC via UPI

to know more on this listen from Industry experts -

Will it work on all merchants by default or merchants have to manually enable the option to receive payment via credit card?

Also has anybody used this feature? How was the experience?

 

[Abhishek012]

Will it work on all merchants by default or merchants have to manually enable the option to receive payment via credit card?

Also has anybody used this feature? How was the experience?

See here - Steps to add RuPay credit card to BHIM UPI app - https://www.technofino.in/community/threads/steps-to-add-rupay-credit-card-to-bhim-upi-app.3051/

Almost all merchants except P2PM.

P2PM is super duper ultra max pro smallest merchants, more details - https://www.npci.org.in/PDF/npci/up...in UPI for unorganised or small merchants.pdf

MDR is also free for small merchants transactions upto Rs2000.

 

[Gk123]

Will it work on all merchants by default or merchants have to manually enable the option to receive payment via credit card?

Also has anybody used this feature? How was the experience?

No it no manual enablement like wallet and cards..it automatically enabled on every UPI merchant.
Currently most of merchant failed transction Because ecosystem still in development like all payers when redy it's works.. currently icici bank support thsi payment

 

[Abhishek012]

No it no manual enablement like wallet and cards..it automatically enabled on every UPI merchant.
Currently most of merchant failed transction Because ecosystem still in development like all payers when redy it's works.. currently icici bank support thsi payment

Bank and payment gateway companies also contact the merchant and merchant have an option to enabled and disabled.

UPI OD is already enabled by many merchants and UPI OD already charged MDR fees from merchants that's why UPI Credit is also working.

 

[Rishabh]

Manage to add HDFC Regalia Rupay Credit card to BHIM app without any issues.

 

[rp0703]

Manage to add HDFC Regalia Rupay Credit card to BHIM app without any issues.

I have tata neu plus, still not able to add. Did any transaction yet?