IndusInd Bank on Tuesday launched its UPI-enabled IndusInd Bank Samman RuPay Credit Card, in association with with National Payments Corporation of India (NPCI) especially for government sector employees. The cards have been launched for government sector employees to provide them with a range of exclusive benefits and enhance their overall banking experience.
The Samman RuPay Credit Card will offer the benefits of a traditional credit card with the advanced features of UPI, creating a seamless financial tool. The card offers a plethora of advantages, including cashback on diverse expenditures, complimentary movie tickets, no charges on cash advances, and waivers on surcharges for transactions done through IRCTC and fuel purchases.
These features are not only designed to provide financial incentives but also to simplify and enrich the day-to-day transactional experience of government employees.
Earlier, the Reserve Bank of India (RBI) gave permission for users to connect their RuPay credit cards with UPI payment applications. In order to utilise a credit card on UPI platforms, it is mandatory for it to be a RuPay credit card.
Speaking about the launch, Soumitra Sen, Head – Consumer Banking and Marketing, IndusInd Bank, said: “We are delighted to launch the IndusInd Bank Samman RuPay Credit Card for all government sector employees to offer superior value and convenience to them. We understand their requirements and have crafted this credit card to provide a seamless and rewarding experience, strengthening our presence within this segment and solidifying our position as their preferred banking partner.”
Praveena Rai, Chief Operating Officer, NPCI, said: “We are pleased to partner with IndusInd Bank to introduce a novel solution on RuPay’s robust and expansive network, tailored to meet the specific needs and requirements of government sector employees. This significant collaboration reflects our commitment to providing user-friendly and cutting-edge payment experiences to all consumer segments. Moreover, linking RuPay Credit Cards with UPI opens a multitude of convenient payment options for cardholders.”
Several other banks, including HDFC Bank, Kotak Mahindra Bank, YES Bank, and Federal Bank, have introduced virtual RuPay credit cards that can be used on UPI.
According to NPCI, RuPay Credit Cards on UPI were launched to share a seamless, digitally enabled credit card lifecycle experience for customers. Customers will benefit from the ease and the increased opportunity to use their credit cards. Merchants will benefit from the increase in consumption by being part of the credit ecosystem with acceptance of credit cards using asset lite QR codes.
RuPay Credit cards can now be linked to a UPI ID thus directly enabling safe, and secure payment transactions.
Top features as mentioned by NPCI
Look for credit card accounts from the issuer bank based on your registered mobile number and link it to the UPI ID on BHIM app or any UPI app.
Post linking the card, customer will be able to make payment to a merchant by scanning the UPI QR code. Payment authentication will be done using UPI PIN.
Cash withdrawal at merchant, P2P, P2PM, and card-to-card payments will not be permitted through this functionality.
Transaction through this process will follow UPI standard transaction limits.
Features like AutoPay and dispute resolution will be available for the customer via ODR (UPIHelp) through UPI Apps.
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