Google Pay India, in association with the National Payments Corporation of India (NPCI), has launched a facility to make Unified Payments Interface (UPI) payments via RuPay credit cards on its platform. Now users will be able to link their RuPay credit cards to Google Pay and make payments across all merchants that accept credit cards.
Google says the tie-up will help boost greater adoption of digital payments in the country. So far, Google Pay only supported debit cards, though there's still no option to add other credit cards like Visa and Mastercard on UPI-based payments apps in India.
RuPay, the first-of-its-kind global card payment network from India, with wide acceptance at shops, ATMs, and online, says on its platform, currently four banks are live to link RuPay credit card on UPI – Punjab National Bank, Union Bank of India, Indian Bank, HDFC Bank, and Axis Bank.
Apart from Google Pay, customer can link their RuPay credit card on UPI via BHIM, Mobikwik, PhonePe, and Paytm apps as well.
The RuPay credit cards on UPI allow customers to benefit from the ease and the increased opportunity to use credit cards. Merchants also benefit from the increase in consumption by being part of the credit ecosystem with acceptance of credit cards using asset lite QR codes.
The Reserve Bank of India (RBI) in June last year had allowed the linking of credit cards to UPI. Initially, the apex bank said only Rupay credit cards will be enabled with this facility. The approval was intended to provide more avenues and convenience to the customers in making payments through the UPI platform.
Presently, RuPay cards are issued by over 1,100 banks, which include public sector banks, private sector banks, and regional rural and cooperative banks. It’s 10 core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A., and HSBC.
In May so far, 645.6 crore UPI transactions worth ₹10,33,231.29 crore have been carried out. In volume terms, the UPI transactions have increased from 1.8 crore in FY17 to 8,375 crore in FY23, shows the official data. The value of UPI transactions has also increased handsomely from just ₹6,947 crore to ₹139 lakh crore during the same period, a jump of 2004 times, shows the official govt data.
How to link RuPay credit card to UPI?
If you are an Android user and an App store for iOS user, download Google Pay or any other apps like BHIM or PhonePe or Paytm, or Mobikwik app from the Google Play store.
Complete the registration journey.
From the drop-down list, select your bank.
Select the RuPay credit card you want to link from all the credit cards associated with your mobile number
Proceed to generate UPI PIN
