Reserve Bank on Wednesday allows credit cards to be linked to the Unified Payments Interface (UPI), which will allow more people to make payments using popular platforms.

It is proposed to allow connecting credit cards to UPI, “said Governor of RBI Shaktikanta Das when announcing the regulatory movement, along with a two -monthly policy review.

Rupay credit card

The Governor of RBI said that to start with a RUPAY Credit Card issued by the National Payments Corporation of India (NPCI) promoted RBI will be activated with this facility, and the facility will be available after system development.

“To further deepen the reach and use, it is proposed to allow connecting credit cards to UPI. To start with a Rupay credit card will be activated with this facility. This arrangement is expected to provide more ways and comfort for customers in making payments through the UPI platform,” said Governor RBI in a statement.

This facility will be available after the required system development is complete. The required instructions will be issued for NPCI separately, “said the Governor of RBI.

Das said that the new settings are expected to provide more paths and comfort for customers in making payments through the UPI platform. UPI has become the most inclusive payment mode in India, with more than 26 unique users and 5 crore traders on the platform, he added.

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In May, the transaction of 594.63 crore amounted to Rs 10.40 Lakh Crore was processed through UPI, Das said. The interoperability of the Prepaid Payment Instrument (PPI) has also facilitated PPI access to the UPI payment system to conduct transactions, Das said.

How to link credit card with a payment application- You have to go to the payment application.

– then you have to click on your profile image.

– After that, open the payment method section.

– You will see the “Add Credit/Debit Card” option.

– You must enter the card number, valid upto date, CVV, name of the card holder.

– After this details are entered, click save.