Credit Card Payment Rules: ICICI Bank customers can now make UPI payments using their RuPay credit cards. The bank has collaborated with National Payments Corporation of India (NPCI) to enable UPI transactions on its RuPay credit cards. However, it is important to note that only Person to Merchant (P2M) payments are allowed using RuPay credit cards on UPI.
Credit Card Payment Rules: Mumbai based private sector bank, ICICI Bank has started a new facility for its customers. The bank has integrated its RuPay credit card series with UPI payments. Now customers associated with this bank can make UPI payment through their RuPay credit card. This information was given in a press release issued by the bank on Friday, December 1, 2023. It has been said in the press release that this step will provide a lot of convenience to the Rupay credit card holders of ICICI Bank. According to the press release, now customers can link their cards to the UPI app of their choice (Google Pay, PhonePe, etc.) and make payments through it.
This facility is available on these payment methods
However, it is important to note that only Person to Merchant (P2M) payments are allowed using RuPay credit cards on UPI. This means that a person cannot transfer money from his Rupay credit card to his friends and family through UPI. In the press release, the bank has said that P2M category payments include shopping, payment of utility bills, offline payments at vending machines etc.
You will get rewards on every payment
According to ICICI Bank, “The Bank has collaborated with National Payments Corporation of India (NPCI) to enable UPI transactions on its RuPay Credit Card.” It is noteworthy that the bank is currently issuing many types of Rupay credit cards to its customers. This includes ICICI Bank Coral RuPay Credit Card, ICICI Bank HPCL Super Saver RuPay Credit Card and ICICI Bank Rubix RuPay Credit Card. According to the bank, customers can link these credit cards with UPI. The bank said that customers will also get the benefit of reward points on payment through this.
Credit card will have to be linked to UPI
The bank has said that individuals who have ICICI Bank RuPay Credit Card will first have to link the said card to the UPI app and then scan the merchant QR code. ICICI Bank’s iMobile Pay app can also be used to make such payments. “The integration of RuPay Credit Card with UPI provides better financial liquidity to customers by offering interest-free credit up to 50 days,” said Bijith Bhaskar, Head of Cards, ICICI Bank.
How to link ICICI Rupay credit card with UPI
Step 1 – Download iMobile Pay by ICICI Bank app and register yourself on it. Then go to ‘UPI Payments’ and click on the ‘Manage’ tab.
Step 2- Go to ‘My Profile’ under ‘Manage’ tab and then click on ‘Create New UPI ID’ under ‘My Profile’.
Step 3- Select ‘RuPay Credit Card’ as the payment method.
Step:4- Select the UPI ID and then click on ‘Proceed’.
Step 5- Review the transaction details and then click on ‘Confirm’.
This facility is also available in these banks
It is worth noting that apart from ICICI Bank, there are many other banks which have launched RuPay credit cards on UPI. According to the website of National Payment Corporation of India (NPCI), currently 10 banks have integrated their RuPay credit cards into UPI. These include Axis Bank, Kotak Mahindra Bank, SBI Card, HDFC Bank, ICICI Bank, Yes Bank, Bank of Baroda and Punjab National Bank.
We have taken all measures to ensure that the information provided in this article and on our social media platform is credible, verified and sourced from other Big media Houses. For any feedback or complaint, reach out to us at informalnewz@gmail.com
