Bank of Baroda Credit Card customers can now use their RuPay Credit Cards on UPI with BHIM
The National Payments Corporation of India (NPCI) has developed the payment and settlement infrastructure in India, which will make it possible to link credit cards to the UPI as well. Previously, only debit cards could be linked to the UPI in order to make payments.
Customers of the Bank of Baroda Credit Card can now use their RuPay Credit Cards on UPI with BHIM and other UPI-enabled apps, according to a joint announcement made on Wednesday by BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of the Bank of Baroda, and the National Payments Corporation of India (NPCI). In the ecosystem, BOB Financial is one of the largest RuPay Credit Card issuers.
Presently the clients of the Bank of Baroda RuPay Charge card can do exchanges across all the trader outlets with QR codes and other payment gadgets in the nation upheld by the accommodation and security confirmation of UPI.
"UPI has changed payments in the nation and BOB Financial is satisfied to cooperate with NPCI in empowering Mastercard transactions on UPI on the Bank of Baroda RuPay Visas. Credit Card on UPI gives our customers access to the ease and convenience of UPI transactions while maintaining credit card benefits. And they don't even have to carry the card with them," Bank of Baroda's Sanjiv Chadha stated.
He continued, "We expect a significant rise in the use cases for making payments via credit cards with this launch, resulting in our cardholders engaging significantly more with their Bank of Baroda RuPay Credit Card."
The National Payments Corporation of India (NPCI) has developed the payment and settlement infrastructure in India, which will make it possible to connect credit cards to the UPI as well. Previously, only debit cards could be linked to the UPI in order to make payments.
Remarking on the turn of events, Dilip Asbe, Overseeing Chief and President of NPCI, said, "UPI, India's own special installment framework, has seen an excursion to be perhaps of the most well known framework in India and presently leaving on its worldwide excursion.
The expansion of Bank of Baroda Visas on UPI rails is a major achievement in the development direction of both RuPay and UPI."
The country's users' perceptions of credit consumption are changing as a result of RuPay Credit Cards' integration with UPI. He summarized, "Our dream of underwriting every Indian shall catalyze our dream of seamless and digitally enabled lifecycle of a credit card utility for a customer, with the added benefits of rewards."
