Big Update for SBI and ICICI Bank Customers, Now UPI Payment Can Also Be Made Through RuPay Credit Card
RuPay Credit Card
State Bank of India (SBI) and ICICI Bank, two prominent banks in India, have introduced the facility of Unified Payments Interface (UPI) transactions for their customers using RuPay credit cards.
This development enables customers of both banks to seamlessly conduct transactions by linking their RuPay credit cards to the UPI app.
SBI, being the largest bank in the country, and ICICI Bank, the largest private sector bank, have recognized the growing popularity and convenience of UPI transactions.
By integrating their RuPay credit cards with the UPI platform, customers of these banks gain a new avenue to perform secure and instant digital transactions.
Linking RuPay credit cards to the UPI app offers several advantages for customers. UPI transactions provide a hassle-free and real-time payment experience, allowing users to send and receive funds conveniently.
With the integration of RuPay credit cards, customers can leverage their existing card details and make seamless transactions through the UPI infrastructure.
Additionally, customers of SBI and ICICI Bank can now link their RuPay credit cards on the BHIM (Bharat Interface for Money) app as well. BHIM, a government-backed UPI-enabled app, enables users to perform a range of transactions, including fund transfers, bill payments, and merchant payments.
The inclusion of RuPay credit cards within the BHIM app expands the payment options available to customers, making it even more versatile and user-friendly.
According to media reports, the BHIM app allows customers from 11 banks to link their RuPay credit cards. This broadens the scope of users who can enjoy the benefits of UPI transactions and promotes the interoperability of RuPay credit cards across different banking platforms.
The adoption of UPI transactions with RuPay credit cards by SBI and ICICI Bank aligns with the government’s vision of promoting digital payments and reducing reliance on cash transactions.
By embracing this technology, both banks empower their customers with a seamless and secure digital payment ecosystem.
In conclusion, the introduction of UPI transactions for customers using RuPay credit cards by SBI and ICICI Bank reflects their commitment to providing convenient and innovative banking solutions.
By linking RuPay credit cards to the UPI app and BHIM platform, customers gain access to an expanded range of payment options and can experience the ease and speed of digital transactions.
This initiative contributes to the growth of India’s digital payment ecosystem, enabling more individuals to embrace the advantages of cashless transactions.
RBI Started This Facility Last Year
The Reserve Bank of India (RBI) initiated the facility of UPI payment through RuPay Credit Card in the year 2022.
This move by the central bank aimed to enhance the convenience and flexibility of digital transactions for users.
With this facility, individuals can now make payments using their RuPay credit cards through UPI-enabled payment apps by simply scanning the required QR codes.
It is important to note that while UPI payment through RuPay Credit Card offers a seamless payment experience, there are certain limitations.
For instance, this facility may not be available for all types of transactions, such as peer-to-peer transactions. The specific scope and restrictions associated with UPI payment through RuPay Credit Card can be clarified by referring to the guidelines provided by the RBI and the participating banks.
Apart from the dedicated BHIM app, RuPay credit cards from select banks have also been integrated with popular UPI apps such as Google Pay, Paytm, PhonePe, PayZapp, and Freecharge.
This integration allows users of these UPI apps to link their RuPay credit cards and utilize them as a payment option. By leveraging these widely-used UPI platforms, individuals can make secure and convenient transactions using their RuPay credit cards.
The RBI’s introduction of UPI payment through RuPay Credit Card aligns with its vision of promoting digital payments and encouraging the adoption of advanced payment technologies in the country.
By enabling RuPay credit cardholders to utilize UPI for payments, the RBI aims to provide a wider range of options to customers, making digital transactions more accessible and user-friendly.
The integration of RuPay credit cards with popular UPI apps offers several benefits to users. It simplifies the payment process, eliminates the need for physical cards, and enhances the security of transactions.
Additionally, it expands the acceptance network for RuPay credit cards, enabling users to make payments at a growing number of online and offline merchants.
This is How You Can Link Credit Card
To link your credit card to the BHIM UPI app, follow these steps:
1. Open the BHIM UPI app on your mobile device.
2. Navigate to the bank account section within the app.
3. Look for the account link option and tap on the “+” sign to add a new account.
4. You will be presented with two options: Bank Account and Credit Card. Select the credit card option.
5. Enter the last six digits of your credit card number in the provided field.
6. Input the validity details of your credit card, including the expiration month and year.
7. An OTP (One-Time Password) will be sent to your registered mobile number linked with the credit card. Enter this OTP when prompted.
8. After verifying the OTP, you will be prompted to set a UPI PIN for your credit card.
9. Create a secure and unique UPI PIN that you will use for authorizing transactions through the BHIM UPI app.
10. Once you have successfully set your UPI PIN, your credit card will be linked to the BHIM UPI app, and you will be able to make UPI payments using your credit card.
It is important to note that the exact steps may vary slightly depending on the specific version of the BHIM UPI app you are using.
It is recommended to refer to the app’s user guide or contact the app’s customer support for any specific instructions or clarifications.
By linking your credit card to the BHIM UPI app, you gain the convenience of making UPI payments directly from your credit card.
This allows you to enjoy the benefits and rewards offered by your credit card while leveraging the ease and security of UPI transactions.
