NPCI allows key aggregators for merchant transactions through credit cards on UPI

New Delhi, Mar 29 (KNN) The National Payments Corporation of India (NPCI) has partnered with various payment aggregators to enable merchant transactions through RuPay credit cards on UPI.

Last year the Reserve Bank of India (RBI) had allowed linking RuPay credit cards to the Unified Payment Interface (UPI).

“NPCI has enabled key aggregators like BharatPe, Cashfree Payments, Google Pay, Razorpay, Paytm, PayU and Pine Labs to enable merchant transactions through RuPay credit cards on UPI in the Indian market,” NPCI said in a statement on Wednesday. 

Earlier, UPI customers were able to make transactions only through their bank accounts, overdraft accounts, and prepaid accounts.

“The linkage will ensure that customers no longer have to carry their credit cards with them for payments,” said NPCI.

“After the RBI’s decision to start linking RuPay credit cards to UPI, we immediately started enabling leading payment aggregators to boost merchant acceptance and customer awareness in a bid to attract early and widespread adoption. The support of all partners has been instrumental in helping us achieve this,” said Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, NPCI.

Bansal said NPCI will aim to explore more relevant avenues to promote the adoption of digital payments via credit cards on UPI.  (KNN Bureau)