No charge for RuPay credit cardholders!!!


RuPay Credit Card is operational since last four years and all major banks are enabled and are issuing incremental cards for both commercial and retail sectors. RBI has approved the integration of RuPay Credit Cards with UPI which will provide a seamless, digitally enabled credit card lifecycle experience for the customers. customers will benefit from the increased opportunity and ease of using their credit cards. Merchants will benefit from increased consumption by being a part of the credit ecosystem with the acceptance of credit cards using Asset Lite QR Codes. The credit card can now be linked to a Virtual Payment Address (VPA) i.e. UPI ID (credit card number cannot be part of it), thus enabling direct and secure payment transactions.


The circular issued by NPCI on october 4 states that to enable international transactions, the existing process from the app will be applicable to credit cards as well. The circular states that Nil MDR (No Interchange, PSP and App Provider charges) for this category will be applicable up to transaction amount less than and equal to Rs 2,000. Merchant Discount Rate (MDR) is the cost paid by a merchant to a bank for accepting payments from its customers via credit or debit cards whenever a card is used for payment in their stores.

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