RuPay credit card UPI transactions double in first seven months of FY25

The National Payments Corporation of India, which runs the real-time payments system Unified Payments Interface (UPI), launched the RuPay credit card programme in 2017

Transactions processed through the Unified Payments Interface (UPI) on RuPay credit cards doubled in the first seven months of financial year 2025 (FY25) compared to the same period of FY24, data from the Ministry of Finance shows.

 

RuPay is India’s own payment network system. It was launched in 2o12 by government-backed National Payments Corp of India (NPCI). While the RuPay credit card was started in June 2017.

 

Till October, over 750 million such transactions amounting to Rs 63,825.8 crore were processed. In FY24, UPI RuPay credit card transactions were recorded at 362.8 million with a cumulative value of Rs 33,439.24 crore. So, the cumulative value has almost doubled in the first seven months of FY 25, and the whole year figure could be well above that.

 

In the second half of FY23, the ecosystem recorded 0.86 million transactions with a total value of Rs 134.67 crore.

 

Nearly five years after this launch, the apex payments body rolled out the program to link RuPay credit cards on UPI in September 2022. Users could link their RuPay credit cards on UPI apps to make merchant payments.

 

“In order to promote financial inclusion in tier-II and below regions, various initiatives have been taken from time to time. One such initiative is the introduction of RuPay Credit Card linked with UPI which provides additional avenues of credit facility to the users making UPI payments,” said Pankaj Chaudhary, Minister of State (MoS), Ministry of Finance, in response to a question asked in the upper house of the Parliament.

 

The merchant discount rate (MDR) and interchange fee on RuPay credit cards linked to UPI continues to be zero for transactions up to Rs 2,000 for small merchants.

 

An MDR is a fee charged by payment processing companies to merchants for processing a particular credit or debit transaction.

 

This follows a zero MDR policy on UPI transactions linked to users’ savings accounts.

 

UPI has recorded 155.44 billion transactions in 2024 on a cumulative basis.