EXPLAINED Credit Cards-UPI Linking

RBI has announced credit cards can be linked with UPI

Find out why 


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


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!