Here's how you can use credit cards
for payments via PhonePe, Paytm, Gpay(Google Pay) & BHIM
In
recent years, the Unified Payments Interface (UPI) has experienced a remarkable
surge in popularity throughout India. Consider this: In March 2023, the Reserve
Bank of India (RBI) said daily UPI transactions crossed 360 million. The
integration of UPI with third-party applications such as Google Pay, Paytm,
PhonePe, and BHIM enables users to initiate transactions through their bank
accounts and debit cards effortlessly. But now these platforms have extended
their capabilities to select credit cards, offering users a broader range of
payment options.
First things first: To
utilise UPI with your credit card, you’ll need to apply for a RuPay credit card
from a bank that supports this UPI feature such as Bank of Baroda, Axis Bank,
HDFC Bank, Punjab National Bank, Kotak Mahindra Bank, Union Bank of India among
others. Once approved, you can manually link your physical card to payment apps
that are compatible with credit transactions on UPI.
Here are steps to link
your third-party apps such as GPay, Paytm, PhonePe with your Rupay Credit
card
Step 1: Open your
app—Paytm/PhonePe/GPay and BHIM
Step 2: Click on your
profile at the right or left-hand corner
Step 3: Set up payment
methods
Step 4: Add RuPay credit
card
Step 5:
Enter the card details including, the expiry date, and PIN of your RuPay credit
card
Step 6:
Activate the card. To activate it, Tap “RuPay credit card on UPI” in your
profile
Step 7:
Your RuPay credit card is now ready for UPI payments.
Using the
steps above RuPay Credit Card customers can directly link their credit cards
with the UPI applications of their choice, such as BHIM, Paytm, PhonePe, Google
Pay, MobiKwik and PayZapp.
PhonePe,
recently announced that it had achieved two significant milestones. The company
has become the first digital payments app to successfully enable the linkage of
200,000 RuPay credit cards to the UPI. In addition, PhonePe has also processed
a Total Payment Value (TPV) of Rs 150 crore via RuPay Credit on UPI.
Sonika
Chandra, Vice President of Consumer Platform and Payments at PhonePe, stated in
a press release, “We are thrilled to become the first payments app to link two
lakh Rupay credit cards to UPI. We believe that Rupay cards on UPI will
revolutionize the access and use of credit in the ecosystem, and we are committed
to offering comprehensive solutions that cater to the evolving needs of our
customers and merchants. Similar to any other credit instrument, MDR is
applicable for Rupay on UPI and our merchant partners are enthusiastically
adopting and driving the use of RuPay among customers.”
Which banks allow linking RuPay credit cards with UPI?
As of now, the feature is available to RuPay credit card holders of Axis Bank, Bank of Baroda, IDFC first bank ,HDFC bank, SBI, Kotak Mahindra Bank, Punjab National Bank , Union Bank of India and Yes bank
Basic features
- 100% cashback up to ₹250 on all fuel spends within first 30 days of card issuance.
- 20 reward points per ₹100 on fuel spends on IOC Terminal.
- 5 reward points per ₹100 spent on Online Shopping (basis MCC). Minimum transaction size eligible: ₹100
- 1 rewards points per ₹100 spent on all other spends. Maximum eligible spends 5000/month
- 1% Fuel surcharge waiver is applicable for fuel spends between 200 to 5000.
- Annual Fee waived off if spends more than 50000 per year.
- 10% instant discount for movie ticket booked via BookMyshow website.
- Enjoy up to 15% Discount on partner Restaurants via EazyDiner
Bank of Baroda
Basic features
- Joining Fee: ₹500/-
- Annual fee – ₹350/-
- Up-to 20X reward points on 1AC, 2AC, 3AC, CC or EC class booking for ticket purchases at IRCTC website www.irctc.co.in
- 2X i.e. 4 reward points on every ₹100 spent on groceries and departmental stores
- Get 1000 activation bonus Reward Points on single transaction of ₹1000
- or more within 45 days of card issuance ( Worth ₹250)
- Complimentary Domestic and international Lounge Program.
IDFC first bank
Basic features
- Get up to 175 litres free fuel annually
- ₹500 cashback on 1st HPCL fuelling + other welcome benefits worth ₹1,650
₹499 Introductory Zero Joining Fee- Up to 6.5% savings on fuel spends,
- 5% savings on Grocery, Utility & IDFC FASTag recharge
- 3X Rewards on other retail spends
- Airport lounge access, Movie discounts & Road-side Assistance
- Never expiring Rewards
- Low & Dynamic Interest rates starting at 9% per annum
- 0% Interest on ATM Cash Withdrawals until due date
- ₹499 annual fee, waived-off on ₹1.5 Lakh spends in the anniversary year
HDFC bank
Basic features
- 7% NeuCoins on Tata Neu (Including 5% NeuCoins with NeuPass membership)
- 2% NeuCoins at Partner Tata Brands (Online & in-store purchases)*
- Partner Tata Brands – bigbasket, Croma, Tata 1mg, Air Asia, Tata CliQ, Westside, Taj Hotels, Vivanta Hotels, Ginger Hotels, Qmin, Tata Play, Tata Pay, Cult (Cultfit, Curefit), Titan, Tanishq
- 2% NeuCoins on bill payment & recharges through Tata Neu
- 1% NeuCoins on other spends
- Redeem Neucoins (1 NeuCoin = ₹1) for purchases at Partner Brands
Basic features
- Welcome Gift : Get 350 activation bonus Reward Points on single transaction of ₹500 or more within 45 days of card issuance. Fuel and Cash spend are not included
- ValueBack Benefits : Buy tickets through irctc.co.in & IRCTC Mobile App (for Android only) for AC1, AC2, AC3 and AC CC and earn up to 10% Value Back as Reward Points
- Reward Benefits : Get 1 Reward point for every ₹125 spent on non-fuel retail purchases, including railway ticket purchases at www.irctc.co.in and IRCTC Mobile App (Android only)
- Travel Offers from IRCTC
- Save 1% transaction charges on railway ticket bookings on www.irctc.co.in
- Log on to irctc.co.in and avail exclusive travel privileges
- Book your airline tickets with IRCTC at unbeatable prices
- Fuel Surcharge Waiver : Enjoy freedom from paying the 1% fuel surcharge across all petrol pumps in India, on transactions of ₹500 - ₹3,000, exclusive of GST and other charges
- Railway Lounge Program
- Enjoy 4 complimentary railway lounge access in a year to participating lounges in India (Max 1 per quarter)
- To avail the offer, please use your IRCTC SBI Card (on RuPay platform) at the respective lounges
Kotak Mahindra Bank
Basic features
- Earn 3 Reward Points against retail spends of ₹100
- Get 4 PVR tickets or 10,000 Reward Points on annual spends of ₹1 Lac
- Zero joining Fee
- ₹199 Annual Fee
Punjab National Bank
Basic features
- Minimum Joining Fees
- NIL Annual Fee if spends on the card is ₹1 Lacs during previous financial year
- NIL Renewal Fee
- Max. 2 Add on Cards
- Comprehensive Insurance Coverage upto ₹10 Lacs.
- Complimentary Domestic and International Lounge Access.
- Premium Health Check Up Package
- Complimentary Golf and Spa Sessions
- Complimentary Gym Membership
- 24/7 Concierge Services available
- Interest Free Period from 20 Days to 50 Days from Date of Transaction
- Convenient Mobile App “PNB GENIE” – One Stop Solution
- Limit: Min ₹50,000 and Max. ₹10 Lacs
Union Bank of India
Basic features
- No joining fee
- Link your RuPay credit card to any UPI app for merchant payments
- Complimentary access to domestic and international lounges
- Free personal accident insurance coverage up to ₹10 lakh
- Lost Card Insurance Coverage up to ₹1.50 Lakhs.
- 1% reimbursement on fuel purchases up to maximum of INR 100 per month/per card
- Earn 4 Reward Points on every ₹100/- spent
- Exclusive offers on partner merchants
- Annual Maintenance Charges is waived on spending of ₹50,000 in 1 year.
Basic features
- 8 Reward Points on every ₹200 on travel and dining categories
- Upto 4 Reward Points on spend of ₹200 on other Categories
- Preferential Foreign Currency Markup of 2.75% on all international spends
- 1% Fuel surcharge waiver at all fuel stations across India
