Paytm Payments Bank Limited (PPBL) has partnered with the National Payments Corporation of India (NPCI) to introduce RuPay Credit Card on UPI, which will allow users to link RuPay credit cards with their UPI ID for all merchant payments.
This will increase the usage of RuPay credit cards and provide an easier experience for both consumers and merchants. The transactions can be done through the Paytm app by scanning the UPI-enabled QR code, making both online and offline payments faster and more secure.
With the linkage of RuPay Credit Cards on UPI, customers will benefit from the increased opportunity to use their credit cards, and merchants will benefit from the increase in consumption by being part of the credit ecosystem with the acceptance of credit cards using assets like QR codes.
Surinder Chawla, MD and CEO, Paytm Payments Bank said, “We are launching payments through RuPay Credit Card on UPI in partnership with NPCI, and believe that this will enable convenience of payments, while also leading to greater penetration of the credit ecosystem in India.”
Praveena Rai, COO, NPCI said, “RuPay Credit Cards on UPI provide an unmatched user experience by combining the ease of UPI with RuPay Credit Cards. The rewards and benefits of RuPay Credit Cards will further be enhanced with the experience of digital enablement and the convenience of making all types of payments through a single UPI app. This will lead to a widespread usage of RuPay credit cards with convenient and faster payments across online and offline modes.”
Earlier, the Reserve Bank of India approved linking of RuPay credit cards with UPI for a more digitized credit card experience. It may be noted that users need to link their RuPay credit card to their UPI ID to enable such transactions.
