In the era of digital payments, UPI has emerged as a game-changer. It allows individuals to make quick transactions through their smartphones. While UPI is typically associated with linking bank accounts, you can also link your Credit Card to UPI payment apps. This opens up a world of possibilities, allowing you to tap into your credit limit for various transactions.
In this blog, we will walk you through linking your Credit Card to UPI and explore the benefits of doing so.
Here is how to link UPI with a Credit Card:
Step 1: Create a UPI account on Paytm Google Pay or PhonePe
- Begin by downloading a UPI application, such as Paytm, Google Pay or PhonePe from the Play Store or App Store.
- After downloading, verify your mobile number within the UPI app and complete the registration process.
Also Read: 6 benefits of using a Credit Card
Step 2: Add or link your Credit Card
- Once you've successfully registered, navigate to the "Add credit card" or "Link Credit Card" option within the UPI app.
- From the list of available Credit Card issuer banks, select "Axis Bank."
- Now, choose the specific Axis Bank Credit Card, that you wish to link and confirm your selection.
Step 3: Create your UPI PIN
- To set up your UPI PIN, select the "Create PIN" option within the UPI app.
- Now, select your Axis Bank Credit Card as the card for which you want to create the PIN.
- Enter the required details for your Credit Card- the last six digits and the expiry date.
- Enter the OTP you received, and then set your preferred UPI PIN.
By following these steps, you can successfully connect your Credit Card with UPI apps such as Google Pay, PhonePe and Paytm, allowing you to enjoy the convenience and benefits of UPI payments with your Credit Card.
How to make UPI payments using Credit Cards?
To make a Credit Card UPI payment, follow these steps after completing the linking procedure:
- Log in to your account.
- Select the 'send money' feature.
- Input the UPI ID or the bank account information of the recipient.
- Specify the amount you intend to transfer.
- As a preferred payment method, choose 'Credit Card'.
- After confirming the payment, your transaction will be initiated and processed.
Also Read: Credit Cards: Six reasons why you should have a credit card
Benefits of linking your Axis Bank Credit Card to UPI
Here are the top benefits of using UPI with a Credit Card:
1. Instant money transfer
Linking your Axis Bank Credit Card to UPI allows you to instantly transfer money to family and friends without spending anything from your savings account.
2. Multiple bank account integration
With UPI, you can link multiple bank accounts, including your Credit Card, to a single app. This simplifies managing your finances and ensures you can access funds from different sources.
3. Contactless payments
UPI payments are contactless, reducing the need for physical cash and cards. It's a safer and more hygienic option in today's world.
4. Rewards
Some Credit Cards offer rewards for UPI transactions, such as cashback or loyalty points. Linking your credit card can help you maximise these benefits.
5. No need for bank account details
You don't need to share your bank account details when making UPI payments with a linked Credit Card, enhancing privacy and security.
6. Secure and encrypted transactions
UPI transactions, including those made with credit cards, are highly secure and encrypted, minimising the risk of fraud or unauthorised access.
Conclusion
Linking your Credit Card to UPI opens up a world of convenience and flexibility in digital payment options. Whether you prefer PhonePe, Google Pay, or Paytm, the process is relatively straightforward, and the benefits are substantial. Enjoy instant money transfers, secure transactions, and the ability to access your credit limit whenever needed.
Embrace the future of payments by linking your credit card to UPI today!
Frequently Asked Questions
Is there any charge for credit card UPI transactions?
There will be no charge for transactions for up to ₹2,000.
Merchants will cover the applicable MDR charges for transactions exceeding ₹2,000, and customers will not incur any extra fees.
What does a VPA/UPI ID/Virtual ID mean?
A VPA (Virtual Payment Address) or UPI ID (Unified Payments Interface Identifier) is a unique identifier used for digital payments in India. It's like an email address for your bank account, providing privacy and security when receiving money or making payments through UPI-enabled apps.
Can one send money from a Credit Card to UPI?
The UPI app allows you to conveniently conduct transactions after you successfully connect your Credit Card. Upon submitting your CVV, you will receive a one-time password (OTP) and your Credit Card information will be stored securely.
Which apps allow customers to link their RuPay Credit Card to UPI?
Presently, BHIM, Mobikwik, Paytm, and the Slice app allow customers to link their RuPay Credit Cards to UPI.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision
