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Paytm Payments Bank introduces RuPay credit card on UPI
February 08, 2023
“In UPI, the bank is a leader in P2M (peer to merchant) transactions, with the highest merchant partners in its ecosystem. The introduction of UPI payments on RuPay Credit Card is another step in the bank’s innovative journey to bring the best features to consumers,” it said.
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.
The Reserve Bank of India (RBI) approved 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 pay the merchants by scanning the UPI-enabled QR code via 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.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/