Paytm Payments Bank Limited, India’s home-grown payment solution provider, has recently launched RuPay Credit Card on UPI, which is aimed at improving the payment experience for both consumers and merchants. This integration of RuPay Credit Cards on UPI is expected to drive greater acceptance of RuPay credit cards and thereby reinforce the credit card ecosystem in India. Paytm Payments Bank has been a leader in UPI with its robust presence as the largest merchant acquiring and beneficiary bank and one of the leading remitter banks. The bank is also recognized for its prowess in P2M (peer to merchant) transactions and has a vast network of merchant partners in its ecosystem.
With the integration of RuPay Credit Cards on UPI, customers will have greater access to their credit cards and merchants will have increased consumption, making it easier for customers to use credit cards for payments through QR codes. The Reserve Bank of India has approved the integration of RuPay credit cards with UPI to provide users with a better digital credit card experience.
For a seamless and secure transaction process, customers need to link their RuPay credit card to their UPI ID. After the RuPay credit card is linked to the UPI ID, customers can make payments to merchants simply by scanning the UPI-enabled QR code through the Paytm app, eliminating the need for physical cards. This integration is expected to make both online and offline payments faster, as transactions can be done using the UPI ID linked to the RuPay credit card in a hassle-free manner.
Paytm says that the integration is expected to provide customers with greater access to their credit cards, faster transactions, and an improved payment experience, while merchants will benefit from increased consumption.
“As the leader in UPI, being the top beneficiary and acquirer bank with the largest P2M transactions, we are taking UPI to every nook and corner of the country. 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,” said Surinder Chawla, MD and CEO of Paytm Payments Bank.
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 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. We are very excited to launch RuPay Credit Cards on UPI with our home-grown Paytm Payments Bank.
With the integration of RuPay Credit Cards on UPI, customers will have greater access to their credit cards and merchants will have increased consumption, making it easier for customers to use credit cards for payments through QR codes. The Reserve Bank of India has approved the integration of RuPay credit cards with UPI to provide users with a better digital credit card experience.
For a seamless and secure transaction process, customers need to link their RuPay credit card to their UPI ID. After the RuPay credit card is linked to the UPI ID, customers can make payments to merchants simply by scanning the UPI-enabled QR code through the Paytm app, eliminating the need for physical cards. This integration is expected to make both online and offline payments faster, as transactions can be done using the UPI ID linked to the RuPay credit card in a hassle-free manner.
Paytm says that the integration is expected to provide customers with greater access to their credit cards, faster transactions, and an improved payment experience, while merchants will benefit from increased consumption.
“As the leader in UPI, being the top beneficiary and acquirer bank with the largest P2M transactions, we are taking UPI to every nook and corner of the country. 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,” said Surinder Chawla, MD and CEO of Paytm Payments Bank.
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 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. We are very excited to launch RuPay Credit Cards on UPI with our home-grown Paytm Payments Bank.
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