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HomeCURRENT AFFAIRSBUSINESSCredit Card holders permitted by NPCI to make payments using UPI

Credit Card holders permitted by NPCI to make payments using UPI

UPI: In order to enable credit card holders to use the Unified Payment Interface (UPI) to make purchases of goods and services, Razorpay, a fintech platform, has teamed with the National Payments Corporation of India (NPCI).

NPCI allows credit card holders to use UPI for payments

The National Payments Corporation of India (NPCI), which is responsible for all payment-related choices, is steadily taking steps to increase UPI usage across the board, throughout the nation.

The payment between UPI and Rupay, which uses Credit Cards to improve UPI payments, has been acknowledged by NPCI. The Razorpay payment gateway thereafter enables its merchants to accept UPI payments made using Rupay credit cards.

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Rupay payment enables merchants to accept UPI payment using Rupay credit cards

Axis Bank is a partner of Razorpay . The choice was made with the demands of the traders in mind. RazorPay and merchants can now accept the RuPay Credit Card. The first banks that will allow you to use Rupay credit card to pay Razorpay retailers are HDFC Bank, Punjab National Bank, Union Bank, and Indian Bank.

You won’t need to carry your UPI credit card everywhere with you, which is the main advantage of attaching it. Credit card payments are quick and easy with UPI. You must use the credit card option when making this payment rather than the debit card option. We will go over the easy steps if you want to link both.

  1. To begin, you must open the UPI App
  2. The next step is to choose “Add Card.”
  3. Then, you must thoroughly fill out the payment card information
  4. You must enter the OTP that will be provided to your registered mobile number
  5. You must then authenticate your card
  6. The credit option in UPI Payment will then appear.

According to NPCI data, around 250 million Indians utilise UPI for daily transactions. In the nation, 50 million people use one or more credit cards. Now, even individuals who only make payments with credit cards will be able to use UPI.

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