RuPay Credit Card Latest Update: NPCI’s new announcement, now you can make UPI payments up to Rs 2000, that too absolutely free
RuPay Credit Card Latest Update: According to the information, it has come to the fore that as per the instructions of RBI, now no fee will be deducted on Unified Payments Interface for transactions of at least Rs 2000 through RuPay Credit Card.
Based on this information, the National Payments Corporation of India (NPCI) will not have to pay any extra amount on online purchases up to Rs 2000, giving some relief to those making online payments through Rupee credit cards.
NPCI has said that as per the order of RBI, no fee will be charged for online payment of up to Rs 2,000 through RuPay credit card on Unified Payments Interface (UPI).
Let us tell you that the RuPay card is being used in the banking of the country for a long time. And due to this, almost all the banks in the country are issuing rupee credit cards and debit cards.
These debit and rupee credit cards are being used extensively in retail sectors and commercial.
He said during the issued circular that ‘Device binding during credit card onboarding and UPI PIN setting process on the app will be included as a form of individual consent of each customer for the use of RuPay credit card for each type of transaction. And will be considered as well.
NPCI said in the circular that to enable international transactions to take place, it will try to implement the existing process on credit cards.
If we talk about, Zero Merchant Discount Rate (MDR) for this category will be applicable up to the amount of online transaction less than and equal to Rs 2,000.
MDR is said to be the cost paid by a merchant to each bank for accepting payments from each of its customers through credit cards or debit cards.
The discount rate to that customer is expressed as a percentage of the transaction amount whenever or wherever a credit card or debit card is used for making online payments in their stores.
It has also been clearly stated that “This decision was implemented from the date of issue of the notification. And every customer is requested to pay attention to this notification, along with everything given in this notification.” Take care
RBI Deputy Governor T Rabi Shankar had earlier also stated that a specific purpose of linking credit cards with UPI ID is to provide the customer with a wider choice of payment options.
At present, UPI is always linked to savings accounts or current accounts through Credit Cards and Debit Cards. (RuPay Credit Card Latest Update)
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