How to link RuPay credit card to UPI—Benefits and easy setup
Linking RuPay credit cards with UPI can streamline payments but requires careful management to prevent debt. RuPay's growing popularity stems from its rewards, security features, and acceptance, providing a reliable option for digital transactions in India.
Due to excellent rewards and benefits, as well as their domestic and international acceptability, RuPay credit cards have gained more popularity in India. Connecting your RuPay credit card to UPI helps accelerate transactions and make it more accessible, regardless of your level of credit card experience. This is a comprehensive guide on how to do it.
What is a RuPay card?
Derived from the words "rupee" and "payment," a RuPay card is an Indian bank-issued credit card or debit card issued through the RuPay payment network. RuPay allows for electronic transactions as it serves as a payment processing network, similar to Visa and Mastercard. RuPay is widely accepted for all types of financial operations and is connected to more than 600 institutions around India.
Benefits of RuPay credit card
- Made in India: It is especially designed to cater to the needs of Indian customers and banks.
- Reduced costs: The associated costs are relatively cheaper because most of the transactions occur in India.
- Greater accessibility: It allows transactions in markets and industries that were previously underserved.
- Better security: The sensitive financial information is safer and not prone to outside threats because transactions remain domestic.
- Accessibility: It offers smooth transactions through ATMs, financial services, and internet banking systems.
How does a RuPay card work?
RuPay cards have an EMV chip embedded in them, which ensures greater security in high value transactions. They also have an integrated microprocessor for secure storage of cardholder information. More than 1.5 lakh ATMs and 8.75 lakh point-of-sale terminals under India's National Financial Switch accept RuPay credit cards.
How to connect your RuPay credit card via UPI?
In order to connect your RuPay credit card to UPI, just follow these simple steps:
- Download and install: Download the BHIM app from the Apple app store or Google play store.
- Connectivity option: Select your preferred connecting option, 'credit card'.
- Issuing bank: Ensure that your registered mobile number is updated and select your bank from the list that is available.
- View linked cards: The app will display all the credit cards linked to your mobile number.
- Choose & confirm: Select the card you want to link and confirm that you have made the right choice.
- Create UPI PIN: To complete the linking process, create a secure UPI PIN.
Where is the RuPay credit card accepted?
There are many types of transactions which can be done with RuPay credit cards:
- Card-present transactions include POS terminals, retail shops, and ATMs.
- Card-not-present transactions include bill payment, IVR-based payments, and the online shopping sites.
- The ICS Partner acceptance locations all over the world support international RuPay credit cards.
- The domestic RuPay card can be used anywhere at ATMs, retail shops, and anywhere online platforms allow it to be used with RuPay.
In conclusion, connecting the RuPay credit card with UPI would be useful if done responsibly because excessive interest charges on outstanding accounts may lead to high borrowing expenses and debt build-up due to credit card spending if left unchecked. In order to fully utilize digital transactions without harming your financial stability, keep an eye on the expenses and ensure timely payments.
(Note: Using a credit card carries its own set of risks)
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