Kotak Bank integrates Rupay cards with UPI

Mumbai: Kotak Mahindra Bank has completed integration of its RuPay Credit Card with the Unified Payment Interface which will allow customers to use these cards on UPI enabled Apps.

With the linkage of Kotak RuPay Credit Cards on UPI, customers would not need to use their physical Credit Card. They can make payments from the UPI app at merchant outlets with QR codes and POS devices across the country. Additonally, the RuPay Credit Card can also be used to make payments for e-commerce transactions as well as in-store transactions.

“RuPay Credit Card on UPI is a gamechanger initiative. With Kotak’s Rupay Credit Cards going live on UPI, we offer our customers the convenience of UPI and credit card in a single platform. This also opens a wider network of merchants receiving payments on credit cards. UPI has the potential to deepen credit penetration in the country, especially in semi-urban and rural areas,” said Frederick Dsouza, Business Head – Credit Cards, Kotak Mahindra Bank. He added that this will increase purchasing power of customers as well as provide convenience of transacting from wherever they are, instantly using UPI.

“We believe linking RuPay Credit Card on UPI will provide a seamless, digitally enabled credit card lifecycle experience to the customers and will further deepen the reach and usage of digital payments. We are confident this will bring us closer to our aim of processing a billion transactions a day on the UPI platform,” said Rajeeth Pillai, chief relationship management and marketing, NPCI.

Kotak RuPay Credit Cards will be linked to a Virtual Payment Address (VPA) i.e. UPI ID, thus enabling safe and secure payment transactions. Customers can directly link their credit cards with the UPI applications of their choice, such as BHIM, PhonePe, Paytm, Google Pay, Slice, or MobiKwik.

Kotak Mahindra Bank has been actively scaling up its Rupay portfolio in the recent times. The Bank has multiple offerings on RuPay in its proprietary product portfolio, including RuPay variants of co-branded credit cards with IndianOil as well as METRO Cash & Carry India.


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