Mumbai: Bank of Baroda’s RuPay credit cards can now be used for payments by scanning QR codes on the UPI network.
BOB Financial Solutions Limited (BFSL), a subsidiary of Bank of Baroda, and the National Payments Corporation of India (NPCI) have announced this new feature, allowing Bank of Baroda credit card customers to utilize their RuPay Credit Cards on UPI with BHIM and other UPI-enabled apps. BFSL is one of the largest issuers of RuPay Credit Cards in the ecosystem.
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This development will enable Bank of Baroda RuPay Credit Card users to transact at merchant outlets nationwide using QR codes and POS devices without a physical credit card.
Sanjiv Chadha, Managing Director & CEO of Bank of Baroda, said that credit card on UPI offers customers the security and convenience of transacting on UPI while enjoying the benefits of a credit card without the need to carry the physical card.
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Chadha expects a significant increase in the use cases for making payments via credit cards with this launch, leading to increased engagement from Bank of Baroda RuPay Credit Card holders.
Dilip Asbe, Managing Director & CEO of NPCI, said linking RuPay Credit Cards with UPI is transforming how credit consumption is perceived in the country. The seamless and digitally-enabled lifecycle of a credit card utility and the added benefits of rewards align with the vision of providing financial services to every Indian, he said.
Bank of Baroda customers can now link their credit cards directly with their preferred UPI applications, including BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik, and PayZapp.
