Idea is to generally link credit cards with UPI: RBI executive director

There was lack of clarity on whether the RBI will extend this facility to credit cards of other card networks, such as Visa, Mastercard, etc

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While linking credit cards to UPI is meant to give more options to the consumers, it also expands the market

Subrata Panda Mumbai
While the Reserve Bank of India (RBI) has started linking credit cards with Unified Payments Interface (UPI) and RuPay credit cards, in all probability the central bank will allow the same for other card networks such as Visa and Mastercard, too. 

Speaking at the Global Fintech Fest 2022, Vivek Deep, executive director, RBI, said, “We have started with RuPay cards. But if you see the vision document of our department, the idea is to generally link credit cards with UPI. This we believe has the potential to be a game changer in this field. This will enhance the benefit of credit

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First Published: Sep 21 2022 | 10:26 PM IST

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