PhonePe: First Payment App to Link 2 Lakh RuPay Credit Cards to UPI
New Delhi: First Payment App PhonePe has claimed that it has successfully enabled the linking of two lakh RuPay credit cards to the Unified Payments Interface (UPI). Additionally, PhonePe processed a RuPay credit on UPI total payment value (TPV) of Rs 150 crore.
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In collaboration with NPCI, PhonePe wants to provide a full range of RuPay Credit on UPI solutions in order to increase both users’ and merchants’ awareness of the service. The business has already made RuPay Credit Cards acceptable on UPI at 12 million merchant locations across the nation, obtaining the largest merchant penetration in the ecosystem.
It was also mentioned that PhonePe is pushing customer adoption on the PhonePe App with frictionless and clear nudges. Customers are being encouraged to use Rupay credit cards via UPI as their preferred payment method via these contextual messaging.
Going forward, PhonePe will keep working closely with NPCI to expand the penetration of Rupay Credit throughout the nation through improved functionality.
“We are thrilled to become the first payments app to link two lakh Rupay credit cards to UPI,” said Sonika Chandra, vice president (consumer platform and payments) at PhonePe.
We are committed to providing comprehensive solutions that address the changing demands of our customers and merchants since we believe that Rupay cards on UPI will fundamentally change how credit is accessed and used in the ecosystem.
Our merchant partners are passionately embracing and promoting the use of Rupay among customers, and MDR is applicable for Rupay on UPI just like it is for any other credit instrument.
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