Canara Bank Offers UPI Payments Through RuPay Credit Cards; Know All Details Here

Bangalore-based Canara Bank has become the first public sector bank in India to introduce UPI (Unified Payments Interface) payments for merchants through its RuPay Credit Card. This exciting feature is now accessible within the bank’s ‘Canara ai1’ Banking Super App, thanks to a partnership with the National Payments Corporation of India (NPCI).

This development means that Canara Bank customers can now make UPI payments to merchants directly from their RuPay Credit Cards. Customers will have to link their Canara Bank RuPay Credit Cards to their UPI IDs, to conduct credit card transactions using this secure and seamless digital payment method.

Also Read: PNB Introduces UPI 123PAY: Here’s How To Send Money Without Internet

K Satyanarayana Raju, the MD and CEO of Canara Bank, in a statement to FE assured customers that the process of linking their credit cards is similar to the existing account linking procedure. During the account listing for linking, customers can easily select their Canara Credit Card. Furthermore, the transaction limits applicable to UPI transactions will also apply to UPI payments made using RuPay Credit Cards.

Canara Bank emphasised that this new feature will significantly augment digital payments and expand the UPI ecosystem.

Dilip Asbe, the MD & CEO of NPCI, praised the integration of RuPay Credit Card on UPI, highlighting the exceptional user experience achieved by seamlessly combining the convenience of UPI with the advantages of RuPay Credit Card.

Abse further added, “With Canara Bank’s RuPay Credit Card going live on UPI, customers will enjoy increased flexibility and choice when making payments at merchant outlets, without the need to carry their physical cards.”

He also noted that the linkage of RuPay Credit Cards with UPI is revolutionising the way credit consumption is perceived by users and will undoubtedly drive greater adoption of digital payments throughout the country.

It’s important to note that, for the time being, this facility only allows merchant payments. UPI payments from RuPay Credit Cards cannot be used for person-to-person transactions, card-to-card transfers or cash-out transactions, according to Canara Bank.

UPI allows users to effortlessly transfer funds between bank accounts with just a few taps on their mobile phones. On the other hand, RuPay holds a special place as India’s very own initiative for debit and credit card payments.

Unlike its global counterparts, RuPay isn’t a standalone card. Instead, it serves as a reliable payment network that enables banks and credit card issuers to issue debit or credit cards, giving customers a range of options to choose from.