In December 2024, Unified Payments Interface (UPI) transactions reached an all-time high of 16.73 billion, a remarkable 8% increase from the previous month.
With digital payments becoming more popular, the integration of credit cards with UPI is set to revolutionise the way we make payments. This convenient, hassle-free option allows users to make payments with their credit card through UPI-enabled apps, providing even greater ease for managing finances.
HOW TO LINK YOUR CREDIT CARD WITH UPI
To begin using your credit card for UPI payments, the first step is to download a UPI-enabled app such as BHIM or PhonePe. Once installed, navigate to the ‘add payment method’ section and select ‘credit card’ to link your card.
You’ll need to enter your card number, CVV, and expiration date. A one-time password (OTP) will be sent to your registered phone number for verification.
After linking, you’ll be prompted to create a UPI ID, which allows you to send and receive money via UPI.
This ID can be used for transactions such as paying bills or transferring funds, making it a flexible payment option.
HOW TO MAKE CREDIT CARD PAYMENTS USING UPI
Once your credit card is linked to your UPI account, making payments is simple. You can scan a QR code or select options such as ‘pay phone number’ or ‘pay contacts’.
After entering the amount, select your credit card as the payment method, enter your PIN, and complete the transaction.
Currently, only RuPay credit cards can be linked to UPI, with 22 banks offering this feature, including Punjab National Bank, Union Bank of India, Indian Bank, HDFC Bank, Canara Bank, Axis Bank, Kotak Mahindra Bank, Yes Bank, SBI Cards, ICICI Bank, IDFC Bank and IndusInd Bank.
Popular UPI apps like BHIM, Paytm, and Google Pay support linking RuPay cards, making it widely accessible.
ADVANTAGES OF USING UPI FOR CREDIT CARD PAYMENTS
Using UPI for credit card payments offers several advantages, such as immediate transfers and the convenience of contactless payments.
Additionally, there are no additional fees for using this method, and users can make payments without having to manually enter their credit card details each time.
However, it’s essential to use your credit card judiciously and avoid exceeding your credit limit. Secure your transactions by using strong PINs and downloading UPI apps only from trusted sources to safeguard your personal information.
With the ease and security of UPI-linked credit card payments, managing your finances has never been more seamless—just remember to use this powerful tool wisely and stay in control of your spending.
Content Copyright By India Today
