UPI credit cards will grow massively in next 1-2 years, says Riya Bhattacharya of Rio Money
3 weeks, 4 days ago

UPI credit cards will grow massively in next 1-2 years, says Riya Bhattacharya of Rio Money

Live Mint  

Once a user starts using a UPI credit card, it becomes a daily habit. This program enables users to link their RuPay credit cards to UPI apps in order to make payments. Hence we are seeing that once a user starts using UPI Credit Cards, it becomes a daily habit for them. Even small payments are possible using UPI Credit Cards unlike traditional credit cards. UPI payments were 23.4 lakh crore in Oct 2024, of which merchant payments were 6.7 lakh crore – this is three times more than credit card market size and is growing faster.

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History of this topic

UPI enables expansion of credit among underserved borrowers: Study
1 month ago

UPI enables expansion of credit among underserved borrowers: Study

New Indian Express  

BENGALURU: Unified Payments Interface has enabled underserved borrowers to access formal credit for the first time as loans to new-to-credit borrowers in regions with high UPI adoption have increased by 4% and to subprime borrowers by 8%, according to a study. Titled Open Banking and Digital Payments: Implications for Credit Access, the study points out that the UPI, since its …

What are UPI credit cards? How are they changing the way we make payments? An explainer
1 month, 2 weeks ago

What are UPI credit cards? How are they changing the way we make payments? An explainer

Live Mint  

If you are quite accustomed to making all your sundry payments via Unified Payments Interface app and are unsure of changing this habit of yours to embrace credit card in the foreseeable future, then you may explore the idea of using UPI credit cards. However, with linking of credit cards to UPI, card users can literally have got the best …

UPI grows in India: Here's how many users adopting it every month, what's fueling it
5 months, 3 weeks ago

UPI grows in India: Here's how many users adopting it every month, what's fueling it

India TV News  

The digital payment sector continues to grow rapidly, with the Unified Payments Interface adding up to 60 lakh new users every month. According to the latest data from the National Payments Corporation of India, the number of transactions on the UPI platform increased by 49 percent year-on-year to 13.9 billion in June, with the transaction value rising by 36 percent …

The Maths behind the rise in credit card transactions in India
1 year, 6 months ago

The Maths behind the rise in credit card transactions in India

Live Mint  

Rise in credit card transactions in India: After the Unified Payments Interface, now credit card transactions have surpassed debit card usage in India. When compared to debit cards, credit card transactions had a total value of ₹1.33 lakh crore as opposed to ₹53,000 crore. Historically dominated by debit card transactions, the shift towards credit cards is driven by several factors, …

How can you make payments using a credit card via UPI: Step-by-step guide
1 year, 9 months ago

How can you make payments using a credit card via UPI: Step-by-step guide

India TV News  

The National Payments Corporation of India has collaborated with payment aggregators such as Google Pay, Paytm, and Razorpay to allow credit card transactions over the Unified Payments Interface. This comes after the Reserve Bank of India linked RuPay credit cards to UPI in an effort to combine the benefits of both, providing customers with the quick payment experience of UPI …

What's Changing With UPI Merchant Transactions from April 1? EXPLAINED
1 year, 9 months ago

What's Changing With UPI Merchant Transactions from April 1? EXPLAINED

News 18  

National Payments Corporation of India on Wednesday said there is no charge for the bank account to bank account-based UPI payments or normal UPI payments. NPCI has permitted the PPI wallets to be part of interoperable UPI ecosystem and levied 1.1 per cent charge on unified payment interface transactions above Rs 2,000 while using PPI. “The interchange charges introduced are …

Rise in Spending Through Credit Cards, Debit Cards, UPI Indicates Pick-Up In Consumption: FinMin
2 years, 6 months ago

Rise in Spending Through Credit Cards, Debit Cards, UPI Indicates Pick-Up In Consumption: FinMin

News 18  

Spending through credit cards and debit cards in April jumps 77.8 per cent and 12.5 per cent to Rs 1.05 lakh crore and 3.49 lakh crore, respectively. “Value of UPI transactions processed through the National Payment Corporation of India stood at Rs 10.4 lakh crore during May 2022, the highest since UPI was launched in 2016, registering month-on-month growth of …

UPI-Credit Card: RBI's Decision To Give Another Filip To Homegrown Payment Platform
2 years, 7 months ago

UPI-Credit Card: RBI's Decision To Give Another Filip To Homegrown Payment Platform

News 18  

UPI-Credit Card Linking: As the Reserve Bank of India has proposed to link credit cards to Unified Payments Interface, the homegrown virtual payment system has got yet another filip for its growth. Here’s details about UPI and credit card usage in India: Total UPI Transactions in India RBI Governor Shaktikanta Das, while announcing the decision, said, “UPI has become the …

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