In the digital age, UPI has revolutionised payments, offering a seamless way to complete transactions using smartphones. While UPI is often associated with bank accounts, did you know that you can also link your Credit Card to UPI apps? This opens up an array of possibilities, including tapping into your credit limit for daily expenses.
Before linking, ensure you meet your bank's Credit Card eligibility by using a Credit Card eligibility checker. This simple process confirms whether you qualify to enjoy the added convenience of UPI-based payments with your Credit Card.
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.
How to make UPI payment using Credit Card
Download the UPI-enabled mobile app
To start, download a UPI-enabled app like open by Axis Bank from your app store. Once installed, follow the on-screen instructions to register your mobile number and set up the app for transactions.
Link your Credit Card with the app
After setting up the app, navigate to the “Add Card” or “Payment Methods” section. Choose the option to add a Credit Card. Enter your card details, such as card number, expiry date and CVV. Complete the verification process by entering the OTP sent to your registered mobile number.
Create a UPI ID with a Credit Card
Generate a UPI ID linked to your Credit Card by selecting your Credit Card as the payment method. The UPI ID will serve as your unique identifier for making payments. Once created, you can use this UPI ID to complete various transactions using your available credit limit.
Initiate a Credit Card UPI payment
To make a UPI payment using your Credit Card, simply select the "UPI Payment" option on the app. Enter the recipient’s UPI ID and the payment amount. Confirm the payment by selecting your linked Credit Card and authorising the transaction with your UPI PIN.
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
