Now UPI will become a credit card HDFC ICICI PNB Axis Bank customers are in luck with RBI
Now UPI will become a credit card HDFC ICICI PNB : UPI Credit Line: If you also use UPI then this news is useful for you. For the first time, UPI users are going to get the benefit of such a facility, which will be a completely new experience for you. Now you too will be able to spend freely through UPI, whether you have money in your pocket or not. Yes, National Payments Corporation of India (NPCI) is bringing a new system in the country through UPI, this method will work exactly like a credit card. The entire system will be based on Buy Now, Pay Later.
According to the news published in the Times of India (TOI), the Reserve Bank of India (RBI) has allowed banks to provide credit line to customers through UPI. Many banks including Axis Bank, HDFC Bank, ICICI Bank, Indian Bank and PNB are providing this new facility. In the credit line, the customer gets a loan up to a fixed limit and he has to pay interest only on the amount spent. In this new facility of UPI, you can shop directly from your bank account without any money being deducted.
Customers will not have to pay any additional fee.
Now UPI will become a credit card HDFC ICICI PNB Axis Bank This facility will work like a credit card. It has to be paid at a fixed time. At present, this credit can be used only for shopping at shops. When a customer uses this facility, the shopkeeper will have to pay the fee charged on this service. You will not have to pay any additional fee for this new facility. This is a new facility of UPI, to use which you do not need to use any new system or new process.
UPI, the easiest way to pay from a bank account, was started eight years ago. Now it has become so popular that it has become the easiest way to pay directly from the bank account at shops. There is no need of a debit card to make payment in this. Credit can also be used on UPI, which works almost like a credit card. Shopkeepers also benefit more from the use of UPI because they have to pay less charge than the charge levied on the use of credit card. This is the reason why a large number of people prefer to use UPI.
Most people are using cash for shopping.
Now UPI will become a credit card HDFC ICICI PNB Axis Bank According to a report, about 53 percent of people prefer to use UPI for online shopping. Apart from this, 30 percent of people use digital wallet or card (credit or debit) for online payment. At the same time, about 75 percent of people still use cash while purchasing goods at the shop. However, 25 percent of people prefer to use UPI at the shop and 20 percent of people prefer to use digital wallet or card.
NPCI has launched many facilities
Now UPI will become a credit card HDFC ICICI PNB Axis Bank In the last few years, NPCI has launched many facilities to make UPI more user friendly. First UPI Lite was launched. In this, a certain amount from your bank account goes to the virtual wallet and you can use that money to make small payments. In this, you do not need to enter the password again and again or fast internet. After this, NPCI gave Rupay cardholders the facility to link their card to the UPI app and make payments like a credit card by scanning the UPI QR code.
Digital Rupee, recently launched by the Reserve Bank of India (RBI), can also be used with UPI. Now you will be able to make payments by scanning the UPI QR code from your e-Rupi wallet.
NPCI is launching a new facility for customers with the help of RBI. Under this facility, you will be able to use your UPI as a credit card. At present, this facility will be available to the customers of only a few banks. 43-year-old Shweta Tiwari beats her 23-year-old daughter in style, you will agree after seeing the new pictures IND vs ZIM: Yashasvi’s amazing performance…
Now UPI will become a credit card HDFC ICICI PNB Axis Bank UPI Credit Line: If you also use UPI then this news is useful for you. For the first time, UPI users are going to get the benefit of such a facility, which will be a completely new experience for you. Now you will be able to spend freely through UPI, whether you have money in your pocket or not. Yes, the National Payments Corporation of India is bringing a new method in the country through UPI, this method will work exactly like a credit card. This entire system will be based on Buy Now, Pay Later.