ICICI Bank introduces UPI payments via RuPay credit cards; here's all you need to know
UPI payment via RuPay Credit Cards: ICICI Bank customers with this integration can link their RuPay Credit Cards to UPI to carry out Person-to-Merchant (P2M) transactions online. For instance, shopping, payment of utility bills—and offline- such as payments at a POS (point of sale) machine.
UPI payment via RuPay Credit Cards: Private sector lender ICICI Bank announced that it has integrated its RuPay Credit Cards with Unified Payments Interface (UPI) transactions on Friday, December 1. ICICI Bank customers with this integration can link their RuPay Credit Cards to UPI to carry out Person-to-Merchant (P2M) transactions online. For instance, shopping, payment of utility bills—and offline- such as payments at a POS (point of sale) machine.
Further, the user can earn reward points on their spends, ICICI Bank in its press release said. ICICI Bank has collaborated with National Payments Corporation of India (NPCI) to enable UPI transactions on its RuPay Credit Cards.
"The customers can link ICICI Bank Coral RuPay Credit Card, ICICI Bank HPCL Super Saver RuPay Credit Card and ICICI Bank Rubyx RuPay Credit Card to UPI. They can scan the merchant QR code and make the payment from their RuPay Credit Cards using any UPI payment app including iMobile Pay," the release further said.
“The integration of RuPay Credit Cards with UPI provides customers with better financial liquidity by giving them interest-free credit for up to 50 days," Bijith Bhaskar, Head – Cards, ICICI Bank said.
Praveena Rai, Chief Operating Officer, NPCI while commenting on the partnership said “By merging UPI with RuPay Credit Cards, we are reshaping the landscape of digital payments."
How to link RuPay Credit Card with UPI on iMobile Pay; step-by-step guide:
- In iMobile Pay app, go to ‘UPI Payments’ > ‘Manage’ > ‘My Profile’ > ‘Create New UPI ID’.
- Select ‘RuPay Credit Card’ as the payment method.
- Pick the UPI ID you want to link > ‘Proceed’ and review the transaction details.
- Confirm the transaction by clicking ‘Confirm’
Here are a few key features of the offering
- Convenience and security
- Reward points
- Financial flexibility
For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
01:41 PM IST