The National Payments Corporation of India (NPCI) on December 07, 2022, issued an operating circular for RuPay Credit Cards linked to UPI. Credit cards can now be linked to a Virtual Payment Address (VPA) i.e., UPI ID (credit card number cannot be part of this). thus directly enabling safe, and secure payment transactions.
To enable the linking of credit cards on UPI, the ecosystem will have to enhance its tech platforms. While the issuers will enable the linking of credit card accounts at the customer’s end, the acquirers will enable the acceptance of linked credit cards at the merchant’s end.