Great News - Now get the same rewards on RuPay CC UPI transactions as we get on Credit Card transactions
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Great News - Now get the same rewards on RuPay CC UPI transactions as we get on Credit Card transactions:
RuPay Credit Cards Rewards Parity w.e.f. 1st September 2024
Credit card rewards points are a key lever to drive spending on credit cards. It has been observed that the rewards points, benefits & features for RuPay credit cards on UPI transactions are not equivalent to the rewards points, benefits & features offered on Card transactions.
Member banks are expected to adhere to the circular by 1st September 2024.
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Either we will get same reward points as usual as card to upi or card reward points will devalued to upi reward points
Yeah the uncertainty of whether RuPay CC via UPI is accepted or declined results in a bad user experience when making the payment
From the past couple of months, my nearby Grocery store turned off the rupay credit card upi acceptance. Now, I need to shell out money from my savings account. It sucks 😕. I prefer separate transactions entry for calculating my monthly spends and rupay credit card upi serves pretty well.
maybe try to find another one nearby. Exactly for same reason I use rupay card UPI. It keeps bank statement minimal and clear.
mhm good news:) this will keep making people use Rupay more xD
since many i heard stopped using Rupayscan and pay on credit card because of different reward structure for rupay and the card variant
Eg: SBI SimplySAVE rupay behaves differently in rupay compared to swipe i heard (so i never used rupay in it:) i use swipe in it always at offline merchants)
VU+ for the news the good news to reach more
IDFC Vistara card is not available on RuPay variant yet.
IDFC Digital Virtual RuPay Credit Card is floater card.
IDFC customers ko bewakuf bana rahe hai aur customers bann rahe hai.
IDFC Vistara agar RuPay me available hota toh atleast digital RuPay variant card spend pe same reward mil raha hota.
@abhishek012 With this will HDFC Tataneu will be forced to give 1.5% (in case of infinity) even if we do rupay upi txns not from their TataNeu app? Right now, if we do rupay upi txns from other UPI apps, they are offering only 0.5% from 1st August
Please make it mandatory for small/big merchant to accept less than 2k tnx using Rupay CC upi
They should reduce merchant charges to only 0.1 % for transactions btw 100 to 500. And increase as acc. Upto 1.5 % max.
No extra charges upto 100 payment.
Then only merchants will allow rupay cc UPI & Rupay can capture market in upcoming years.
Both Visa & Mastercard are American byproducts which should be avoided at the earliest but sadly not happening at a faster rate than expected.
It is a good move no doubt but banks will use tricks to escape the "rule":
1. Core REWARDING card on Visa/MC while a useless FLOATER card created where card txns as well as UPI txns have parity but reward rate is poor compared to core card. So the banks claims we are providing rewards parity and following NPCI rule.
2. Even if the reward rate on RuPay CC UPI is same as card txn, they put a capping on UPI txns but no capping on card txn.
The circular needs to be clear about all these points to prevent banks from (mis)using these loopholes
Chalo dekhte hain.. rwd upar jatq hai ya niche march karta hai. Ye mcc code wala bhi circular ana chahiye.. jqb jiska man kiya koi mcc chipka deta hai kisi bhi transaction par
Another bureaucratic interference.
All cards should be offer same reward points, whether we use Axis IOCL, Neo Card or Axis Atlas, Burgundy Private, Magnus Card etc. right ?
4 Year ago, SBI and NPCI told that Visa card has a lot of influence in Indian banks.
This is called bureaucratic interference.
I think HDFC Tata Neu and BOB Snapdeal Card will also remove UPI spend capping limit.
So acc to RBI every card should be made available in all networks of VISA -MASTERCARD & RUPAY so going by this SBI CB should be available in RUPAY variant sooner or later and Then the same 5% cb should also work on the RUPAY UPI CC transaction on ONLINE MERCHANT TRANSACTIONS (subject to exclusions on MCC)
Or say INFINIA getting rewards on digital HDFC RUPAY CARD.... is it the right analysis?? @abhishek012
If yes there are more loopholes to Fix otherwise banks are going to devalue the rewards for all CARDS to avoid being burnt by this change
RBI has said card should be launched on more than 1 network so it can be Visa and MC or Visa and Amex still
Also floater RuPay CC for UPI will still not get the rewards. That's exactly what banks do to give less rewards on RuPay and on UPI
Here are few banks name but other banks now also offer UPI on add on cards - https://www.desidime.com/discussions/now-link-a...
Which rupay CC is best...i dont have any
- HDFC Tata Neu Infinity
- Kotak Myntra
- PNB Rupay Select
- Bob Snapdeal
- Kotak IOCL
- Axis IOCL
No issue on big merchant payments.
Also banks declined your transaction if you do multiple transaction on small merchant.
I have a merchant account and someone paid 2000+ and then around Rs 16 was deducted from my Phonepe merchant. My dad came to me with it and asked me to close the Rupay CC option so that we don't incur this loss in the future. Now imagine 1000+ people do this in 1 month, so I get it why merchants don't want to pay the price, they don't see any benefit on their end. If Phonepe can give me an option that any amount above Rs 2000 will not be able to pay using CC, I will gladly turn it back on so that customers with lower value can use this feature but no way a small business is going to absorb that loss when he can get full value with bank UPI.
Note - dnt misuse this FREE MDR. Otherwise banks/payment apps will impose MDR on your under 2k transactions too.
Misuse means that some merchants are helping customers for rotating CC to bank, they accept RuPay CC UPI payment and give cash to customers. Dnt do this type of thing.
Last time I used rupay cc was 3-4 months back, neither tata neu infinity or indusbank rupay cc works in any merchant I scan, be it grocery, chicken, doctor fees or even beer shops etc.
Rupay cc are waste of time. Correct me if I am wrong.
- now they either will increase mdr cahrge so heavily and shamelessly that all merchant will disable rupay on QR codes
-or will devalue in form of limit for QR txn
-i say it again , indians are best honest whole hearted people on earth who believes in giving to enviroment fellow people , that is why india is best country in the world
Good move to decimate Visa monopoly 
The monopolistic days of Visa are over. It used to force banks to stop issuing cards with other networks. Yet another nail in the coffin of Visa 
In some cases, certain payment companies charge a higher MDR on RuPay credit card UPI transactions for selected categories.
Banks continue to earn MDR.
For example, the BOB Snapdeal credit card offers 2.5% cashback on card transactions and 1% cashback on RuPay credit card UPI transactions -
If I purchase something on Amazon using the BOB Snapdeal RuPay credit card (Card OTP-based transaction) and the MDR is 2%, the issuing bank, BOB, receives 60% of the MDR revenue, which means BOB earns 1.20%.
Now, if we use the BOB Snapdeal RuPay credit card UPI transaction on Amazon to purchase the same product and the MDR is 2% (or higher in some cases), the issuing bank BOB still receives 60% of the MDR revenue, which means BOB earns 1.20% or more if the MDR is higher.
So, the question is, why ? why does BOB offer only 1% cashback on RuPay credit card UPI transactions when BOB still earns the same MDR fee?
Note: You might ask the question, "Isn't BOB incurring a loss by offering 2.5% cashback while earning only 1.20%?" Yes, but that's a different question. BOB is incurring a loss on direct card transactions as well. It's not that they're profiting from one and losing on the other. BOB is experiencing the same profit or loss in both cases; it's just the mode of the transaction that's different.
And don't forget, the BOB Snapdeal card was just an example. Many other credit cards offer a flat 1% cashback on RuPay credit card transactions (Card OTP-based transaction) but do not provide 1% cashback on RuPay credit card UPI transactions or have caps on the cashback. However, the bank's earnings from the MDR remain the same.
Take the TATA Neu Infinity card as an example. It offers 1.5% cashback with a cap of ₹500 on UPI transactions.
If I use the TATA Neu Infinity card to directly buy something worth ₹1 lakh or use the TATA Neu Infinity card via UPI to buy something worth ₹1 lakh, I would get ₹1500 cashback on the card transaction but only ₹500 cashback on the UPI transaction.
The question remains the same: why? When the bank earns the same MDR fee from both types of transactions, aren't they discriminating against credit card UPI transactions? Think about it.
IRCTC counters disabled Rupay cards on POS.
But at the same time axis iocl charhe too many extra money for the petrolI fuel my 2 wheeler for 340.rs. manu time and never check statement But last month when i checked i am shocked Iocl axis bank charged 351.80 rs. For the transaction That means 11.80 ra extra each time I am totally shocked that this much amount of money even for iocl card iocl petrol pump
Rs 10 + GST that is normal charge only for most cards. 1% or Rs 10 whichever is higher read TnC.
Tata neu bhi dega fir as they reduced only this month on upi.. lets see.. achhe kaam kam hote hain bure kaam jyada..
BANK will not give thsi so easily as they are indian banks and india is best country in the world
-so be ready to take offcial notification and filing rbi banking ombudsman
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what does it even mean 😓
Either we will get same reward points as usual as card to upi or card reward points will devalued to upi reward points
They should instead focus on making merchants accept rupay credit cards for txn under 2000
They should instead focus on making merchants accept rupay credit cards for txn under 2000
Yeah the uncertainty of whether RuPay CC via UPI is accepted or declined results in a bad user experience when making the payment