EXPLAINED
Credit Cards-UPI Linking
RBI has announced credit cards can be linked with UPI
Find out why
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What has happened?
Credit cards will be allowed to be linked to UPI account
Will start with Rupay credit cards
Soon to be rolled out to Visa, Mastercard
What does this mean?
Made for added user convenience
Provide users with wider choice of payments
Issues?
No clarity on how will MDR be calculated
No clarity on pricing structure
No clarity on how 2FA will work
Market in numbers
Credit cards: 7.5 crores
Card swipe machines: 61.3 lakhs
Debit cards: 92.1 crores
How do banks make money from credit cards?
Read our blog to find out!
Read more