The use of UPI payments is increasing day by day. The reason is obvious- it is the fastest cashless transaction option. Moreover, with the rise of digitalization, the concept of making payments has undergone a revolutionary change. UPI is a real-time payment system that enables instant money transfers between bank accounts via mobile devices. It is a highly secure and user-friendly mode of payment, widely accepted across various online and offline platforms. Today, UPI payments can be made using multiple modes of payment, including debit cards, bank accounts, and credit cards. Now, as you’re reading this blog, you must be curious to know how to use a credit card for UPI payments. Without further ado, let’s just get started!
A step-by-step guide for making UPI payments using credit cards
Step 1: Download the UPI-enabled mobile application
To make UPI payments using a credit card, the first step is to download the UPI-enabled mobile application on your smartphone.
Step 2: Link your credit card with the UPI-enabled mobile application
Once you have downloaded the UPI-enabled mobile application, you need to link your credit card with the application. To link your credit card, go to the ‘Add Payment Method’ option in the application, select ‘Credit Card,’ and enter your credit card details, including the card number, expiry date, and CVV. You will also need to provide the OTP sent to your registered mobile number to verify your credit card details.
Step 3: Create a UPI ID with credit card
After linking your credit card with the UPI-enabled mobile application, the next step is to create a UPI ID. Your UPI ID is a unique identification code that is linked to your bank account and enables you to receive and send money. To create a UPI ID, go to the ‘Profile’ section in the application and select ‘UPI ID.’ You can choose any unique ID, which should be a combination of letters and numbers.
Step 4: Initiate a credit card UPI payment using a credit card
Open the UPI-enabled mobile application and log in to your account.
1. Select the ‘Send Money’ option.
2. Enter the beneficiary’s Credit Card UPI ID or bank account details.
3. Enter the amount you wish to transfer.
4. Select ‘Credit Card’ as the payment mode.
5. Confirm the payment and wait for the transaction to be processed.
Therefore, the above mentioned four steps will help you complete UPI Payments through credit cards.
What are the benefits of using UPI for transactions?
The UPI (Unified Payments Interface) payment mode has revolutionized the way we carry out financial transactions in India. It is a real-time payment system that enables instant money transfers 24/7, without the need for the bank account details of the recipient. Mentioned below are some key benefits of using the UPI payment mode for transactions.
Instant Money Transfer
With UPI, money transfers are instant and can be done any time, even on weekends and holidays. You don’t have to wait for working hours or banking hours to transfer money.
No Need for Bank Account Details
With UPI, you don’t need to remember or share the recipient’s bank account number, IFSC code, or any other details. All you need is their UPI ID or mobile number linked to their UPI account.
Multiple Bank Account Integration
UPI allows you to link multiple bank accounts to a single UPI ID. This means you can transfer money from any of your linked bank accounts, making it a convenient solution for managing multiple bank accounts.
Secure and Encrypted Transactions
UPI uses a two-factor authentication process for each transaction, making it one of the safest payment modes available. All transactions are encrypted, so your personal and financial information is protected.
No Charges for Basic Transactions
UPI is free to use for basic transactions, such as sending money, checking account balances, and viewing transaction history. This makes it a cost-effective solution for carrying out financial transactions.
Can Be Used for Various Purposes
UPI can be used for a variety of purposes, such as mobile recharge, bill payments, money transfers, and more. This versatility makes it an ideal payment mode for all your financial needs.
While several banks’ credit cards help make UPI payments, the credit card from Airtel Finance doesn’t provide this functionality yet. However, the Airtel Credit Card offers plenty other features and benefits which include amazing discounts, up to 25% cashbacks, domestic airport lounge access for 4 times a year, 1% fuel surcharge waiver, up to 15% discount at partner restaurants and much more.
Also, the Airtel Credit Card has zero joining fees and this offer is valid until April 30, 2023.