Curated By: Business Desk
Last Updated: August 11, 2023, 12:26 IST
The State Bank Of India (SBI) and the National Payments Corporation of India (NPCI) are collaborating to link SBI credit cards on the RuPay platform with UPI. This groundbreaking initiative empowers SBI Card holders to seamlessly conduct UPI transactions via their RuPay-issued credit cards. Effective August 10, 2023, this strategic move promises to enhance customer convenience and offer an additional layer of digital financial flexibility.
This innovative development stems from the endeavour to provide SBI Card customers with a streamlined and hassle-free payment experience. Through this integration, credit card users can effortlessly make UPI transactions by enrolling their RuPay credit cards with third-party UPI applications. Remarkably, this service comes at no additional charge, further augmenting its appeal among the user base.
Highlighting the significance of this collaboration, SBI Card stated, “Today, UPI has become a massive digital platform enabling millions of transactions every day. This should give our customers greater flexibility and mobility, along with hassle-free usage. With this, the industry is going to witness a significant increase in credit card usage.”
The process of linking an SBI Card-issued RuPay Credit Card to UPI is straightforward and user-friendly:
- Download a UPI Third Party Application from the Play Store (such as BHIM, Google Pay, Phone Pe, etc.).
- Complete the registration process and verify your mobile number on the UPI App.
- Select the “Add Credit Card/Link Credit Card” option.
- Choose “SBI Credit Card” from the list of credit card issuers.
- Set your 6-digit UPI PIN to finalize the linkage.
- For successful integration, it is essential to ensure that the cardholder’s mobile number registered with SBI Card is linked with UPI. This seamless process grants users the convenience to execute payments akin to those made using debit card transactions.
Dilip Asbe, MD & CEO of NPCI, underscored the significance of this partnership, affirming that it will enable SBI RuPay credit cardholders to experience the advantages of digitally-enabled credit card transactions within the UPI framework. As demand for credit cards surges in India, innovations that offer swift, secure, and user-friendly payment solutions become paramount, making the integration of RuPay Credit Cards with UPI a noteworthy stride.
