Axis Bank enables RuPay Credit Card support on UPI

• Now customers can earn Reward Points on payments through UPI
• The solution provides more flexibility in terms of payments for Axis Bank Credit Card Holders
Bhubaneswar: Axis Bank, India’s third largest private sector bank today announced that it has successfully enabled RuPay Credit Card support on UPI. The Bank customers can use their RuPay Credit Card as a mode of payment while scanning UPI QR Codes or, at merchant’s UPI checkout page. This will allow customers to enjoy the benefits of credit card rewards while experiencing the convenience of UPI’s instant payment. The Bank is rolling out the functionality in phases.
The solution works similar to how the customers linked their bank accounts in UPI. The customer needs to select “AXIS BANK CREDIT CARD” option in their list of banks allowed for Credit Card in their UPI Apps*. Basis the customer’s mobile number associated, linked RuPay Credit Card will be fetched and shown to the customer. The customer then needs to generate UPI PIN. This UPI PIN will be separate from the existing Credit Card PIN of the customer. This feature will currently work in UPI Apps* which are supporting the RuPay Credit Card feature and the customers have RuPay Credit Card with Axis Bank.
Commenting on the launch, Sanjeev Moghe, President & Head – Cards & Payments, Axis Bank, said “With approximately 250 million customers using UPI for their peer-to- peer and merchant payments, the linkage of RuPay Credit Cards with UPI will lead to a rise in acceptability through the vast network of five crores UPI merchants, providing customers with more points of acceptance of their credit cards. Till now, such customers could only use their bank accounts for all Scan & Pay and other forms of UPI merchant payments. In the future, UPI can act as a standalone payment gateway where various forms of payment instruments like Bank Accounts, Credit Cards, PPI wallets can be linked. It is also beneficial to merchants, especially those in semi-urban areas, where card point-of-sale terminals are not widely available as UPI is one of the cheapest asset light payment acceptance solution. Axis Bank has always been at the forefront of extending UPI’s multiple payments flows to its customers and we continue to scale our UPI growth with these innovations and play an important role in fulfilling the dream of underwriting Bharat.”
Adding to the excitement surrounding the launch, Praveena Rai, COO, NPCI said “Unlocking the world of possibilities, RuPay Credit Card on UPI is redefining the way we pay with its cutting-edge technology and convenience of UPI. Leveraging the vast reach of UPI, RuPay Credit Card on UPI opens doors to new opportunities for consumers seeking credit solutions. This unique product brings together the convenient and seamless UPI experience and the benefits of credit cards in terms of credit lines and rewards. RuPay Credit Cards on UPI also embodies our vision to make credit accessible to all, driving economic growth and social progress. We are delighted to have Axis Bank live on RuPay Credit Cards on UPI.’’
According to the RBI’s Payments Vision for 2025, credit-based payment transactions are expected to grow by 16% year-on-year for the next four years. With India rapidly adopting digital payments for day-to-day

transactions, the credit card-UPI linkage announcement will lead to more usage of credit cards for small value payments in UPI. This will also lead to more customers opting for credit cards and they would want to have the convenience of UPI was currently limited to their bank accounts.