Starting May 31, three new services will be available for RuPay Credit Card on the UPI platform, as per a latest announcement by National Payments Corporation of India (NPCI).
New Services By Credit Card And UPI Platform
If you are wondering about this news, the banks and card issuing companies have been asked by the NPCI to enable these features.
In case you are using RuPay Credit Card then there is a piece of good news for you.
As we know, you were able to make UPI payments to offline or online merchants by linking your RuPay credit card to UPI Apps so far.
But now, it changes as RuPay Credit Card users are going to get many new features in the coming months.
These features will be available for the users from May 31, as per this development.
What To Expect?
NPCI stated that it will soon introduce 3 new services for RuPay Credit Cards on the UPI platform.
These services include applying for EMI facility on RuPay credit card, setting up UPI AutoPay to pay outstanding credit card bills or credit line installments, and increasing RuPay card credit limit using UPI apps.
So far we know that the UPI payment facility is available through Rupay credit cards of 17 banks.
The Rupay Credit Card on UPI facility was started during 2022.
With the help of this facility, you can avail the benefit of making UPI payment through RuPay Credit Card.
In case you are wondering, you will be able to make UPI payments with RuPay Credit Card in exactly the same way as you do through a bank account.
But, in this case, the money will be deducted from your Rupay credit card.
The RuPay credit cards of 17 banks can be linked on the NPCI operated BHIM app presently.
Depositing Money Through UPI
Yess, you read right! Presently, you can withdraw cash from an ATM through UPI.
But soon, you will also be able to deposit cash with the help of UPI.
They are planning to deploy a Cash Deposit Machine (CDM).
With the help of these CDM, the account holders will be able to deposit the money.
As we know that presently, debit cards are used to deposit cash through CDM.
The information was given by the Reserve Bank of India Governor Shaktikanta Das on Friday (April 5).
