SBI, Axis, ICICI Bank to go live on 'Rupay Credit card on UPI' by March

Move likely to cause a spike in daily transaction values on this feature, see many UPI users absorbed into credit card ecosystem

Leading credit card issuers SBI Card, ICICI Bank, and Axis Bank are expected to go live on RuPay credit card on UPI feature by March. The move will boost daily transaction values on this feature, which stand at Rs 50 lakh a day now, the chief exectuive officer of National Payments Payments Corporation of India (NPCI) told Business Standard.

Currently, three public sector lenders — Union Bank of India, Indian Bank, and Punjab National Bank — are live on this feature. Recently, the country’s largest credit card issuer, HDFC Bank, went live on the new UPI feature launched by NPCI,