The National Payments Corporation of India (NPCI) has directed all banks issuing RuPay credit cards to ensure that the rewards points, benefits, features and other offers should not be lower for RuPay Credit Cards on UPI transactions. This directive by NPCI is effective from September 1, 2024.
This move came after it was observed that the rewards points, benefits & features for RuPay credit cards on UPI transactions are not equivalent to the rewards points, benefits & features offered on Card transactions.
When is it not applicable
Except for transactions where issuer does not earn any interchange fee.
NPCI stated in a circular dated August 5, 2024, “Issuers shall ensure that the rewards points, benefits, features and other ancillary offers should not be lower (directly & indirectly) for RuPay Credit Cards on UPI transactions and RuPay Credit Cards, except for transactions where issuer does not earn any interchange fee.Member banks are expected to adhere to the circular by 1st September 2024.”
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How to earn rewards points
According to the ICICI Bank website, “The simple way to get rewarded is to use the Credit Card as much as possible for high-value shopping, such as electronic goods, travel booking, gold, etc. Such purchases often result in a lot more Reward points, which can be very useful in the future.”
Important FAQs on RuPay Credit Card on UPI
Which all banks are currently live for Credit Card on UPI?
Currently, 16 banks are live to link RuPay Credit Card on UPI – Punjab National Bank, Union Bank, Indian bank, HDFC Bank, Canara Bank, Axis Bank, Kotak Mahindra Bank, BOB Financial Ltd, SBI Cards, ICIC Bank, AU Small Finance Bank, IDFC Bank, Federal Bank, Catholic Syrian Bank, IndusInd Bank, Yes Bank.
Which apps have been enabled for linking Credit Card on UPI?
Currently, on BHIM, PhonePe, GPay, PayZapp, GoKIWI, Slice, Paytm, MobiKwik, BHIM PNB, Canara Ai1, Groww, Cred, ICICIiMobile, Jupiter, Samsung Wallet, Navi, Sriram Finance, FreeCharge, Amazon Pay, Fino Pay, Niyo Global, YesPay Next, Jio Finance and Union Bank of India (Vyom) customer can link their RuPay Credit Card on UPI. Other apps are enhancing their tech platforms to enable linking of credit card on UPI.
How can I link my RuPay Credit Card on UPI?
Please download BHIM app from Google Playstore. Complete the registration journey, select Credit Card as an option. Select your issuing bank name from the drop down. Basis the mobile number update with your issuing bank, masked Credit Cards will appear on the screen. Select the card which you want to link and confirm. Proceed to generate UPI PIN.
Can I link my Visa/ Mastercard Credit Card on UPI?
Currently, only RuPay Credit Card can be linked on UPI.
What is the maximum number of Credit Cards that can be linked on UPI?
There is no restriction of linking RuPay Credit Card on UPI.
What are the number of transactions allowed from linked Credit Card on UPI?
There is no limit for the number of transactions carried out from linked Credit Card on UPI.
