Paytm Payments Bank Limited (PPBL) in collaboration with the National Payments Corporation of India (NPCI) has introduced RuPay Credit Card on UPI. With the linkage of RuPay Credit Cards on UPI, customers can use their credit cards through UPI.

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The Reserve Bank of India had last year approved the linking of RuPay credit cards with UPI for a digitally enabled credit card lifecycle experience for users. For seamless and secure transactions, users need to link their RuPay credit card to their UPI ID.

After linking the RuPay credit card to UPI ID, users can simply pay the merchants by scanning the UPI-enabled QR code via the Paytm app, eliminating the need to carry cards all the time. Both offline and online payments will become faster as transactions can be done using the UPI ID linked to the RuPay credit card in a hassle-free manner.

Customers can pay merchants by scanning the Paytm QR code and paying through UPI, thus there won’t be any need to carry credit cards.

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“As the leader in UPI, being the top beneficiary and acquirer bank with the largest P2M transactions, we are taking UPI to every nook and corner of the country. We are launching payments through RuPay Credit Card on UPI in partnership with NPCI, and believe that this will enable the convenience of payments, while also leading to greater penetration of the credit ecosystem in India,” Surinder Chawla, MD and CEO, of Paytm Payments Bank, said.

Praveena Rai, COO, of NPCI, said that the development will lead to widespread usage of RuPay credit cards with convenient and faster payments across online and offline modes. 

"We are very excited to launch RuPay Credit Cards on UPI with our home-grown Paytm Payments Bank,” Rai said.

With 386.50 million registered transactions, Paytm Payments Bank is one of the top 10 remitter banks for UPI transactions, according to NPCI’s latest report.

 

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