Business
PhonePe becomes first payment app to link 2 lakh RuPay credit cards to UPI

New Delhi, May 26
Leading fintech company PhonePe has announced that the company has become the first digital payments app to successfully enable the linkage of two lakh RuPay credit cards to the Unified Payments Interface (UPI). It has also processed a Total Payment Value (TPV) of Rs 150 crore via RuPay Credit on UPI.
The company said it aims to offer a comprehensive suite of solutions for RuPay Credit on UPI in partnership with NPCI to popularise its usage among the customers and merchants alike.
The company has already enabled the acceptance of RuPay credit cards on UPI across 12 million merchant outlets in the country, achieving the highest merchant penetration in the ecosystem.
"We are thrilled to partner with the National Payments Corporation of India (NPCI) and become the first payments app to link two lakh RuPay credit cards to UPI. We believe that RuPay cards on UPI will revolutionise 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," said Sonika Chandra, Vice President, Consumer Platform and Payments, at PhonePe.
"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 the customers," she added.
Moreover, PhonePe mentioned that the overall widespread acceptance of UPI has ensured that customers have ample opportunities to utilise their RuPay credit cards for transactions. On the consumer side, the company is driving the adoption through seamless and intuitive nudges on the PhonePe app.
These contextual communications are encouraging customers to adopt RuPay credit cards through UPI as their preferred payment option.
Moving forward, PhonePe will continue to collaborate closely with NPCI to scale the RuPay Credit penetration in the country through enhanced functionalities.

2 hours ago
72nd Miss World pageant kicks off in Hyderabad; Nandini Gupta to represent India.

9 hours ago
Special train arranged to bring students stranded in Delhi back to their hometown; Suresh Gopi intervenes.

12 hours ago
Tenth International Media Conference Held at Peconos, USA

12 hours ago
India’s Heartbeat in Aurora: Trendia experience Center’s Grand Opening Sparks Cultural Joy

12 hours ago
Punjab: Amritsar on high alert, residents urged to stay indoors amid India-Pakistan tensions

12 hours ago
Ceasefire agreement reflects India, Pakistan commitment to regional peace: UNGA president

12 hours ago
China backs terror, most hypocritical country: Former DGP SP Vaid

12 hours ago
After night of drones and explosions, Rajasthan border districts now calm

12 hours ago
Ceasefire is just a means to expose Pakistan before the world: Nishikant Dubey

12 hours ago
Delhi airport issues fresh passenger advisory amid India-Pak tensions

13 hours ago
Pak PM Shehbaz Sharif addresses nation after ceasefire agreement amid violation of deal across LoC, IB

13 hours ago
"War is not India's choice': NSA Doval speaks to Chinese Foreign Minister Wang Yi amid India-Pak tensions

13 hours ago
PM Modi chairs high-level security meet; Defence Minister, NSA, CDS and tri-services chiefs present