This move came after it was observed that the reward points, benefits and features offered by RuPay credit cards on UPI transactions are not equivalent to those offered on card transactions.
New Rupay Credit Card Rule: When does it not apply?
Except in transactions where the issuer does not obtain any benefit exchange rate.
The NPCI stated in a circular dated August 5, 2024: “Issuers shall ensure that reward points, benefits, features and other ancillary offers are not inferior (directly or indirectly) for RuPay credit cards on UPI transactions and RuPay credit cards, except for transactions where the issuer does not earn any interchange fee. Member banks are expected to adhere to the circular by September 1, 2024.”
How to earn reward points with credit card
According to the ICICI Bank Website: “The easiest way to earn rewards is to use your credit card as much as possible for high-value purchases, such as electronics, travel bookings, gold, etc. These purchases often result in many more reward points, which can come in handy in the future.”
Important FAQs about RuPay Credit Card on UPI
Which banks currently accept RuPay Credit Card on UPI?
Currently, 16 banks are active to link RuPay credit card on UPI – National Bank of Punjab, Union Bank, Indian bank, HDFC Bank, Canara Bank, Axis Bank, Kotak Mahindra BankBOB Financial Ltd., SBI CardsICIC Bank, Small Finance Bank of AustraliaIDFC Bank, Federal BankSyrian Catholic Bank, Industrial Bank, Yes Bank.
Which apps have been enabled to link credit cards in UPI?
Currently, on 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), customers can link their RuPay credit card on UPI. Other apps are enhancing their technology platforms to enable credit card linking on UPI.
How can I link my RuPay credit card in UPI?
Download the BHIM app from Google Playstore. Complete the registration process and select Credit Card as an option. Select the name of your issuing bank from the drop-down menu. Based on the update of the mobile number with your issuing bank, the Hidden Credit Cards will appear on the screen. Select the card you wish to link and confirm. Proceed to generate UPI PIN.
Can I link my Visa/Mastercard credit card in UPI?
Currently, only RuPay credit card can be linked on UPI.
What is the maximum number of credit cards that can be linked in UPI?
There is no restriction to link RuPay credit card on UPI.
What is the number of transactions allowed from a linked credit card in UPI?
There is no limit on the number of transactions made from the credit card linked on UPI.
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