Know who can use it, how it works and its limits

RuPay credit cards on UPI: find out who can use them, how they work and their limits

The National Payments Corporation of India (NPCI) has introduced a feature to link RuPay credit cards to the Unified Payments Interface (UPI). The point of sale (POS) terminal is no longer required to use a credit card in a store. With new RuPay credit card on UPI functionality, just scan QR codes at merchant outlets and pay with credit card through UPI app. Know how RuPay credit cards on UPI will work and their limits.

Who can use RuPay credit cards on UPI?

At present, RuPay credit card on UPI facility is only available on BHIM app for some banking customers. “Customers of Punjab National Bank, Union Bank of India and Indian Bank will be the first to use RuPay credit card on UPI with BHIM app,” according to an NPCI circular.

Link RuPay credit card to UPI

The process of linking a RuPay credit card with UPI is quite similar to how a user links a savings bank account or debit card to UPI.

Payments that can be made with RuPay credit card on UPI

RuPay credit cards on UPI can only be used for merchant payments. A customer can also use this new feature for utility or OTT bill payments or other recurring merchant payments as RBI has allowed autopay option for recurring transactions up to Rs 15,000 without the postman additional authentication, said Lalit Chowdhary, senior vice president. , Mindgate Solutions, according to the ET report.

Payments that cannot be made with RuPay credit cards on UPI

-Money transfer to any other individual UPI handle. Example: You cannot transfer money to your friends or family who created their UPI IDs as individuals, using a RuPay credit card on UPI.

– The RuPay Credit-Card-UPI handle cannot be used to make payments to other Credit-UPI-Card handles as well.

-Transfer money to small merchants under the P2PM category (small merchants with an expected incoming UPI transaction of less than or equal to Rs 50,000 per month are classified as “P2PM” by NPCI).