Google Pay, in collaboration with the National Payments Corporation of India (NPCI), has announced the integration of RuPay credit cards onto the Unified Payments Interface (UPI) platform. This new feature allows users to link their RuPay credit cards with Google Pay, enabling them to make payments at both online and offline merchants that accept RuPay credit cards. With this development, Google Pay aims to provide users with greater flexibility and choice in their payment options, ultimately driving the adoption of digital payments in India.
Expansion of Payment Options
Google Pay users can now add their RuPay credit cards to the app, offering them an extended range of payment methods. This integration is currently available to RuPay credit card holders from several prominent banks, including Axis Bank, Bank of Baroda, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank, and Union Bank of India. By adding the RuPay credit card on UPI, users gain access to a seamless payment experience that combines the convenience of UPI with the benefits of RuPay credit cards.
To activate the RuPay credit card on Google Pay, users need to follow a simple process. They can navigate to their Google Pay profile and select the “RuPay credit card on UPI” option. From there, they can choose the specific bank that issued their RuPay credit card. Following this, users will be prompted to set a unique UPI PIN, which involves entering the last six digits of the card number and its expiry date, as well as entering the OTP (One-Time Password) received from their bank.
Positive Impact on Digital Payments
The integration of RuPay credit cards onto the UPI platform marks a significant milestone for digital payments in India. With the Reserve Bank of India (RBI) permitting the linking of RuPay credit cards to UPI in June 2022, this move by Google Pay and NPCI aligns with the country’s growing focus on promoting digital transactions. The NPCI has reported a substantial surge in monthly UPI transactions, reaching 8.7 billion in March. In 2022 alone, UPI witnessed around 74 billion transactions worth Rs 125.94 trillion, as per NPCI data. The inclusion of RuPay credit cards on UPI is expected to further accelerate the adoption of digital payment solutions.