NPCI eyes big-size spends on RuPay UPI credit cards
RuPay credit cards enabled on Unified Payments Interface (UPI), National Payments Corporation of India (NPCI) wants larger-ticket merchant payments also to move to its retail payment network.
Currently users split bills, pay their local vendors, taxi rides and retailers through UPI, the most popular smartphone-based payments mode in the country.
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Now with credit cards enabled on UPI, NPCI is hoping to grab a share of those transactions as well.
“Regular limits on credit card transactions set by the user will be applied to UPI payments too, but the choice is with the issuer,” said a senior banker on the condition of anonymity.
‘Issuer’ stands for the bank which has issued the RuPay credit card to the customer. Credit cards have certain limits meant for security of the payment and also depending on the credit limit set for the customer.
In a letter addressed to all banks which issue RuPay cards and are live on UPI, NPCI asked for enhancement of the limit for RuPay credit card UPI transactions.
“(This will) enhance customer experience and enable customers to carry out high-value transactions on ecommerce, travel bookings (flight, hotel), healthcare services, educational institutes, etc.,” said NPCI in the letter dated
