The promise and pitfalls of credit cards on UPI

The industry has largely cheered the RBI’s move to allow credit cards to be linked to UPI, but actually getting it done will take a lot more thought.

The evolution of the Unified Payments Interface has entered its next chapter with the Reserve Bank of India permitting banks to link credit cards to the payments platform. 

Yesterday, the RBI announced that RuPay credit cards would be the first that can be linked. Customers will be able to link credit cards to their UPI addresses, just as they do today with bank accounts. Whereas everyday merchants will be able to accept credit card payments either on their mobile apps or through QR codes without the need of a card terminal. The move—once the process is fleshed out and card …


Advait Palepu

Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.