● Enables users to pay merchants by scanning Paytm Pioneered QR code and paying through UPI, eliminating the need to carry credit cards
Mumbai/Delhi, Feb 8, 2023: India’s homegrown Paytm Payments Bank Limited (PPBL), has introduced RuPay Credit Card on UPI, enhancing the payment experience for both consumers and merchants. With this, the Bank has empowered users with convenient payments through greater acceptance of RuPay credit cards, strengthening the credit card ecosystem in India.
With the linkage of RuPay Credit Cards on UPI, customers will benefit from the increased opportunity to use their credit cards, and merchants will benefit from the increase in consumption by being part of the credit ecosystem with the acceptance of credit cards using assets like QR codes. Paytm Payments Bank continues to be a leader in UPI as the largest merchant acquiring and beneficiary bank, and one of the leading remitter banks. The introduction of UPI payments on RuPay Credit Card is another step in the Bank’s innovative journey to bring the best features to consumers.
The Reserve Bank of India approved linking of RuPay credit cards with UPI for a digitally enabled credit card lifecycle experience for users. For seamless and secure transactions, users need to link their RuPay credit card to their UPI ID. After linking the RuPay credit card to UPI ID, users can simply pay the merchants by scanning the UPI-enabled QR code via Paytm app, eliminating the need to carry cards all the time. Both offline and online payments will become faster as transactions can be done using the UPI ID linked to the RuPay credit card in a hassle-free manner.
