New RuPay Card Features by NPCI, check benefits from here

Have a Rupay card? Get ready for some exciting new features that make using your card even more convenient and rewarding! Here’s a quick breakdown of what’s coming your way:

RuPay Card

RuPay Card, a domestic payment network in India, has gained significant popularity due to its unique features and benefits.

Launched by the National Payments Corporation of India (NPCI), RuPay Card competes with global payment systems like Visa and Mastercard.

RuPay Payment Card

RuPay Card is an indigenous payment card that facilitates electronic transactions within India. It is accepted at ATMs, point-of-sale (POS) terminals, and online merchants across the country.

RuPay Cards are issued by various banks and financial institutions, making them accessible to a wide range of consumers.

NPCI

The National Payments Corporation of India (NPCI) has added some new things to RuPay Credit Cards on the Unified Payments Interface (UPI) platform. They want to make it easier for people to use credit cards and do more with them.

These changes include things like being able to pay for purchases in instalments, paying credit card bills, and managing how much money you can spend.

Banks and other companies that issue credit cards have to make these changes by May 31, 2024. NPCI also said that you can now link your RuPay Credit Card or pre-approved credit line to UPI. This means you can use them to pay for things safely.

This change helps people use their credit cards more and also helps businesses because more people will buy things using credit.

RuPay Card New features

EMI Facility: You can now ask to pay for things in instalments using the UPI app. It’s easy to do and gives you more flexibility.

Credit Account Bill Payment/Instalment Payment: You can use the UPI app to pay your credit card bill or pay for things you bought in instalments. The app will show you how much you owe and when it’s due. Payments happen quickly, so you can use your credit again sooner.

Limit Management: If you need to spend more money, you can ask your bank to increase your credit limit through the UPI app. This can be helpful for big purchases or emergencies.

Enhanced User Control: These changes give you more control over your credit cards. You can manage payments, pay in instalments, and adjust your credit limit all in one place. NPCI hopes this will make using RuPay Credit Cards on UPI better for everyone.

Bill Payments Made Easy: Paying your credit card bill just got simpler. You can now directly pay your Rupay credit card bill using any UPI app. No more hunting for challans or remembering due dates!

Spreading the Cost: Another cool feature is the option for instalment payments. This allows you to break down larger purchases into smaller chunks directly through your Rupay credit card. This is great for managing bigger expenses without worrying about a large upfront cost.

These features are still being rolled out, and the deadline for banks to enable them is May 31st, 2024. So, keep an eye out for updates from your bank!

RuPay Card Benefits

Savings and Cashback

Rupay cards can help you save money on everyday purchases. Many cards offer cashback on fuel, groceries, and other expenses. Some even have special deals with partner merchants, so you can get discounts at your favorite stores and restaurants.

Insurance Coverage

Rupay cards often come with built-in insurance. This can include accidental death insurance, lost card protection, and even purchase protection. So, you can shop with peace of mind knowing you’re covered in case of unexpected events.

Convenience Features:

Rupay cards are all about making your life easier. You can use them for online shopping, contactless payments, and even withdraw cash at ATMs. Plus, many Rupay cards can be linked to UPI apps, allowing you to pay directly from your bank account.

Rewards Programs:

Many Rupay cards offer reward points or programs. Every time you use your card, you earn points that can be redeemed for exciting gifts, vouchers, or even travel miles.

Secure Transactions:

Rupay cards are equipped with the latest security features to keep your money safe. They use chip and PIN technology to prevent unauthorized transactions, giving you peace of mind.

These new features are a big win for Rupay cardholders. They offer more convenience, flexibility, and control over your finances. Stay tuned for more updates as these features become available!

FAQs

Can I use RuPay Card for international transactions?

While RuPay Cards are primarily designed for domestic use, some variants may offer limited international usage. It’s recommended to check with your issuing bank for specific details.

Are there any fees associated with RuPay Card transactions?

RuPay Cards may have nominal fees and charges, including annual fees, transaction fees, and ATM withdrawal fees. These fees vary depending on the card variant and issuing bank.

How can I apply for a RuPay Card?

You can apply for a RuPay Card through your bank or financial institution. Simply visit your nearest branch or apply online through the bank’s website.

What security measures are in place to protect RuPay Card transactions?

RuPay Cards utilize advanced security features such as EMV chip technology, PIN authentication, and two-factor authentication to safeguard transactions against fraud and unauthorized usage.