All the banks issuing RuPay credit cards are directed by the National Payments Corporation of India (NPCI) to ensure that the rewards points, benefits, features, and other offers of RuPay Credit Cards on UPI transactions are not lower.
Competitive Offerings With RuPay Credit Cards
It holds significance as the directive by NPCI is effective September 1, 2024.
This move by NPCI came after the regulator observed that the rewards points, benefits, and features offered for RuPay credit cards on UPI transactions are not equivalent to those offered on card transactions.
“Issuers shall ensure that the rewards points, benefits, features and other ancillary offers should not be lower (directly & indirectly) for RuPay Credit Cards on UPI transactions and RuPay Credit Cards, except for transactions where issuer does not earn any interchange fee. Member banks are expected to adhere to the circular by 1st September 2024,” noted NPCI in a circular dated August 5, 2024.
Getting Reward Points On Credit Card
“The simple way to get rewarded is to use the Credit Card as much as possible for high-value shopping, such as electronic goods, travel booking, gold, etc. Such purchases often result in a lot more Reward points, which can be very useful in the future,” as per the ICICI Bank website.
So far, 16 banks are live to link RuPay Credit Card on UPI – Punjab National Bank, Union Bank, Indian bank, HDFC Bank, Canara Bank, Axis Bank, Kotak Mahindra Bank, BOB Financial Ltd, SBI Cards, ICIC Bank, AU Small Finance Bank, IDFC Bank, Federal Bank, Catholic Syrian Bank, IndusInd Bank, Yes Bank.
Further, there are many apps such as BHIM, PhonePe, GPay, PayZapp, GoKIWI, Slice, Paytm, MobiKwik, BHIM PNB, Canara Ai1, Groww, Cred, ICICIiMobile, Jupiter, Samsung Wallet, Navi, Sriram Finance, FreeCharge, Amazon Pay, Fino Pay, Niyo Global, YesPay Next, Jio Finance and Union Bank of India (Vyom) by using these apps customer can link their RuPay Credit Card on UPI.
Not only that, other apps are also enhancing their tech platforms to enable linking of credit cards on UPI.
How To Link RuPay Credit Card On UPI?
For doing so, one has to download the BHIM app from Google Play Store and complete the registration journey by selecting Credit Card as an option.
They need to select the issuing bank name from the drop down.
Afterworld, masked Credit Cards will appear on the screen based on the mobile number update with your issuing bank.
Here the user has to select the card which they want to link and confirm and proceed to generate UPI PIN.
As we know that only RuPay Credit Cards can be linked on UPI presently and there is no restriction of linking RuPay Credit Cards on UPI.
