A UPI credit card allows users to make transactions through their credit cards linked to a UPI app. This means if you want to make a payment through a credit card and don’t want to carry a physical card, then you can link it to the UPI app and make payments.
As a high number of global real-time transactions are recorded, India is aggressively promoting digital payments through ways like UPI, incentive schemes, and international expansion with the goal of being a pioneer in digital payment innovation and financial inclusion.
Today (April 4), Prime Minister Narendra Modi proposed linking India’s UPI with the payment systems of the BIMSTEC member nations in an initiative to strengthen trade, industry and tourism in the regional grouping.
The BIMSTEC countries include India, Bhutan, Bangladesh, Myanmar, Thailand, Nepal, and Sri Lanka.
Read More: PM Modi offers linking UPI with payment systems of BIMSTEC nations
What are the features of UPI credit card?
– You don’t need to carry a physical credit card.
– Once you link a credit card to UPI, you can make payments easily.
– The amount gets charged to your credit card and not deducted from your bank balance.
– This is a secure way to make payments as you don’t need to carry any card with you.
UPI credit card: Benefits
- It is a convenient way to make transactions without entering the details of your credit card manually for every transaction.
- You can purchase anything within your credit card limit, you don’t need to think about bank balance as you get time to pay the credit card bill.
- You also earn cashback and rewards on every transaction. The type of reward and cashback amount differs from bank to bank.
- UPI credit card allows instant payment.
- Now, UPI transactions are widely acceptable.
How to link your credit card with UPI
- Open your UPI app.
- Click on ‘link credit card’.
- Choose the bank name.
- Select the type of card.
- Finally, generate the UPI pin.
Banks that offer UPI credit cards
SBI Cards
HDFC Bank
ICICI Bank
Axis Bank
Kotak Mahindra Bank
Punjab National Bank
Union Bank of India
Canara Bank
IDFC Bank
Yes Bank
Federal Bank
IndusInd Bank
AU Small Finance Bank
Indian Bank
Catholic Syrian Bank
BOB Financial Ltd
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