UPI (Unified Payments Interface) has quickly become one of the most popular ways to pay in India, thanks to its speed and wide acceptance. Now, with the option to link your credit card to UPI, making payments is even more convenient. You can pay directly from your phone, just like with a debit card or bank account, while also enjoying the rewards and benefits of your credit card. Whether you are shopping online, paying bills, or transferring money, this step-by-step guide will help you get started with using your credit card for UPI payments.
Download The UPI-capable Mobile App
Download an UPI app to your phone. Examples of these apps include Bharat Interface for Money (BHIM), Google Pay, PhonePe, and Paytm.
Link The App With Your Credit Card
The second step is to link your credit card to the UPI-enabled mobile app. Proceed to the ‘Add Payment Method’ area, select ‘Credit Card,’ and then enter your credit card information, including your credit card number, CVV, and expiration date.
To validate your credit card details, a One Time Password (OTP) will be sent to the registered mobile number.
Create UPI ID Using Credit Card
The third step includes generating a UPI ID using the credit card, which is a unique number consisting of letters, numbers and symbols. Select ‘UPI ID’ from the ‘Profile’ area of the app to have it set up.
This unique code is linked to your bank account and enables simple financial transactions. With this ID linked to your bank account, you can send and receive money using UPI.
Make Your First UPI Credit Card Payment
After completing the rest of the procedures, log into your account, enter your UPI ID, choose relevant payment options on your smartphone, or scan a QR code to make UPI payments using credit cards.
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Select the ‘Send Money’ menu option.
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Enter the beneficiary’s bank account information or credit card UPI ID.
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Put in the amount you wish to send.
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Choose ‘Credit Card’ as the method of payment, and enter the PIN.
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Your transaction will be executed as soon as the payment is verified.
You can also choose alternatives like ‘pay contacts’ or ‘pay phone number.’ Another option is ‘self-transfer,’ which enables you to move funds across accounts.
The National Payments Corporation of India (NPCI) currently only allows RuPay credit cards of 22 banks to be connected to UPI applications. These include SBI Cards, Axis Bank, HDFC Bank, ICICI Bank, City Union Bank, Indian Bank, IndusInd Bank, Federal Bank, BOB Financial Services Ltd, among others. UPI reportedly cannot be linked to the Visa or Mastercard networks.
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