RBI recently announced linking RuPay to UPI, National Payments Corporation of India has agreed with the country's leading payment aggregators to support credit transactions on UPI. Earlier UPI customers could only make transactions through their bank accounts, debit cards and pre-paid accounts.
250mn Indians use UPI daily and 50mn would be having credit cards. This opens the UPI platform to credit cards who through their short term lending can allow their customers to benefit from the rewards they collect on their spending. There were also speculations regarding 1% being charged for transactions above 2000 rupees on UPI payments for merchants.
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