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Axis Bank links RuPay credit cards with UPI
May 10, 2023
Axis Bank said it has successfully enabled linkage of RuPay credit cards with Unified Payments Interface (UPI), the bank said in a release.
Customers can now use their RuPay credit card as a mode of payment while scanning UPI QR codes or at merchant’s UPI checkout page. The feature will allow bank customers to receive credit card rewards and the lender is rolling out the functionality in phases, the release said.
Axis Bank has become the latest entrant in the list of banks that offer customers to link their RuPay credit card with UPI, with other banks being Canara Bank, HDFC Bank, Indian Bank, Punjab National Bank and Union Bank of India.
Sanjeev Moghe, president and head of cards & payments at Axis Bank, said, “With approximately 250 million customers using UPI for their peer-to-peer and merchant payments, the linkage of RuPay credit cards with UPI will lead to a rise in acceptability through the vast network of five crores UPI merchants, providing customers with more points of acceptance of their credit cards.”
Till now, Moghe said customers could only use their bank accounts for all scan & pay and other forms of UPI merchant payments. However, going ahead, UPI can act as a standalone payment gateway wherein various forms of payment instruments like bank accounts, credit cards, prepaid payments instrument (PPI) wallets can be linked.
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