Great News For RuPay Credit Card Users: Starting May 31, You Will Have Access To Three New Features In The UPI App, Including The Option For EMI Payments

New Delhi. If you’re a RuPay credit card user, there’s some exciting news. Until now, you could make UPI payments to offline and online merchants by linking your RuPay credit card to UPI apps. However, new and enhanced features are on the way for RuPay credit card users, set to roll out from May 31.

The National Payments Corporation of India (NPCI) has introduced three new services for RuPay credit card users on the UPI platform. These services include the ability to apply for EMI facilities directly through UPI apps, setting up UPI AutoPay to pay off outstanding credit card bills or credit line installments, and requesting an increase in the credit limit of RuPay credit cards. Banks and card issuers have been instructed to make these features available to their customers, expanding the functionality of RuPay credit cards linked with UPI.

Currently, the UPI payment feature using RuPay credit cards is supported by 17 banks. For context, the capability to make UPI payments through RuPay credit cards was first introduced in 2022. This functionality allows users to enjoy the convenience of UPI payments while using their RuPay credit card, just as they would with their bank account. When making a UPI payment through a linked RuPay credit card, the transaction amount is deducted from the credit card instead of a bank account balance. These RuPay credit cards can be linked with UPI on the BHIM app, which is operated by NPCI.

One of the most awaited new features is the ability to apply for an EMI option through UPI apps. This will make purchases more manageable, as users can convert more significant transactions into EMIs directly from the UPI app interface. This seamless integration of EMI facilities into UPI will simplify financial planning for many cardholders.

Additionally, the introduction of UPI AutoPay for RuPay credit cards is a noteworthy advancement. With this service, users can automate the payment of their credit card bills or installments on their credit lines. This feature ensures timely payments and reduces the hassle of manual transactions each month.

The third feature announced is the ability for cardholders to request a credit limit increase directly through UPI apps. This enhancement will save users the trouble of navigating separate bank apps or websites to manage their credit card limits, making the process more accessible and efficient.

In a broader move towards digitizing payments, NPCI and banks have been making continuous efforts to expand the scope of UPI services. It’s also important to highlight that while UPI has been widely used for making payments and transferring funds, it is evolving to offer more banking services.

One such upcoming feature is the ability to deposit cash using UPI. While UPI can be used to withdraw money from ATMs, cash deposits typically require using a debit card at Cash Deposit Machines (CDMs). Reserve Bank of India (RBI) Governor Shaktikanta Das recently announced that users could soon deposit cash via UPI. This development will enable UPI to handle more traditional banking functions, bridging the digital and physical banking gap.

Currently, RuPay credit cards from 17 banks support UPI payments, and this number is expected to grow as more banks and card issuers implement these newly announced features. This translates to greater convenience and a more versatile payment experience for users. The rollout of these services will begin on May 31, so RuPay credit card users should look for updates from their card-issuing banks.

To maximize security and ensure a smooth user experience, RuPay credit card users should keep their UPI apps updated and check with their banks for specific instructions on enabling these new features.

Overall, these advancements represent a significant step forward in enhancing UPI’s capabilities and making RuPay credit cards even more beneficial for users. Whether splitting a large purchase into EMIs, automating bill payments, or increasing credit limits, these services aim to provide greater flexibility and ease of use for RuPay credit cardholders. The continuous evolution of UPI reflects India’s commitment to leading in digital financial services and making everyday transactions more seamless and secure.

Additionally, consider: Great News For RuPay Credit Card Users: Starting May 31, You Will Have Access To Three New Features In The UPI App, Including The Option For EMI Payments