Credit on UPI: How to make payments using credit on UPI, how to enable on your UPI ID, who can use

economictimes.indiatimes.com:

ICICI Bank also offers PayLater option which is a pre-approved Credit Line on UPI. With the help of this product, people and companies can obtain bank credit lines that have already been approved. It makes low-cost, high-volume retail loans easier to get, which promotes financial inclusion and economic growth.
Now customers can scan to use their credit on UPI with ICICI Bank mobile app’s PayLater option.

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Which banks offer Credit Line on UPI

• Axis Bank
• HDFC Bank
• ICICI Bank
• Punjab National Bank
• State Bank of India

Credit on UPI: Which are the apps that are live now?

According to the NPCI website, BHIM, Google Pay, PayTM and Payzapp.

What are the features of credit on UPI

Below are the important features of the credit on UPI, according to the NPCI website.

• Seamless linking: Using your registered mobile number, find credit line accounts from the issuing bank and link them to any UPI app.
• Secure authentication: Authenticate transactions with a dedicated UPI PIN for Credit Line on UPI, enhancing security and preventing unauthorized access.
• Credit Line details: Gain comprehensive insights Credit line status, utilized credit line, and existing EMI details directly within the UPI app
• Transaction variety: Make payment only to merchants QR Codes, e-comm merchant using Credit line on UPI.
• Transaction limits: Standard UPI transaction limits shall be applicable.
• Repayment methods: When paying back a credit