RBI has launched Rupay credit card on UPI network. At present, there was a facility to use UPI only through debit card. But after this decision of RBI, now UPI payment can also be done through credit card.
New Delhi: There is a big news for credit card and UPI users. RBI has launched Rupay credit card on UPI network. At present, there was a facility to use UPI only through debit card. But after this decision of RBI, now UPI payment can also be done through credit card. Due to which the facilities of the people will also be increased.
These banks started service
At present, Punjab National Bank, Union Bank of India and Indian Bank are the three banks that are providing the facility to link RuPay credit cards with UPI. NPCI i.e. National Payment Corporation of India, which is developing UPI, said that this will benefit both the customer and the merchant. New doors of opportunity opened for the customers and the merchant would get the benefit of more consumption.
The linking of RuPay credit cards with UPI will greatly expand the scope of the credit ecosystem. NPCI said that the RuPay credit card will be linked to a virtual payment address that enables secure and secure payment transactions.
RBI launches UPI Lite
Apart from Rupay credit card, UPILite service has also been launched by RBI. This will be for low value transactions which will work with the help of on-device wallet. Apart from this, the facility of cross border transaction has also been started under Bharat Bill Payment System. It is believed that the payment ecosystem will be revolutionized with the help of Rupay Credit Card and UPI Lite.
Payment can be done without internet
With the help of UPI Lite, customers will be able to make payments even without internet. With UPI Lite, you can transfer the amount up to Rs 200 without internet. Payment through UPI is also possible with RuPay credit card. With the help of Cross Border Bill Payment System, bill payment can be done in India while living abroad.
