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PhonePe has become the first payment app to link 2 lakh RuPay credit cards to Unified Payments Interface (UPI). The company has also processed a Total Payment Value (TPV) of Rs 150 crore via RuPay credit cards on UPI.
The company said that it aims to offer a complete suite of solutions for RuPay credit cards on UPI in partnership with NPCI to popularise its usage among the customers and merchants alike.
“We are thrilled to partner with the National Payments Corporation of India (NPCI) and become the first payments app to link two lakh RuPay credit cards to UPI. We believe that RuPay cards on UPI will revolutionise the access and use of credit in the ecosystem, and we are committed to offering comprehensive solutions that cater to the evolving needs of our customers and merchants,” said Sonika Chandra, Vice President, Consumer Platform and Payments, at PhonePe.
“Similar to any other credit instrument, MDR is applicable for RuPay on UPI and our merchant partners are enthusiastically adopting and driving the use of RuPay among the customers,” she added.
“The overall widespread acceptance of UPI has ensured that customers have ample opportunities to utilise their RuPay credit cards for transactions,” she said. She noted that on the consumer side, the company is driving the adoption through seamless and intuitive nudges on the PhonePe app.
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