Paytm Payments Bank’s pioneering move Boosts UPI linked RuPay Credit Card Growth – www.deekpay.com

Paytm Payments Bank’s pioneering move Boosts UPI linked RuPay Credit Card Growth | India’s dynamic financial landscape offers a robust opportunity for the credit ecosystem to thrive. The acceptance of RuPay credit cards for the merchants is a game-changer. That, clubbed with the increasing linkage of RuPay credit cards on UPI by users, is driving the country towards the goal of financial inclusion, giving a head start to merchants and their businesses in India.The success rate of UPI linked RuPay credit card transactions can be linked to the need for a lesser number of inputs like card details, CVV, OTP. This leads to lesser user drops, making it a merchant’s preferred choice.Awarded for lowest technical declines on UPI by MeitY, RuPay Credit Card transactions via UPI rails is powered by the Paytm Payments Bank tech stack which supports 10,000+ transactions per second.“India is at the cusp of the next payments revolution where credit will become the mainstream payment choice. Our users are already savvy on QR code-based payments and with RuPay credit cards working on UPI.., transactions through mobile phones will get a further boost, marking a new era in digital payments,” Founder of Paytm Payments Bank, Vijay Shekhar Sharma said.Paytm Payments Bank’s role in growth of RuPay Credit Cards linked on UPI in IndiaThe linkage of RuPay credit card on UPI via Paytm Payments Bank has democratised the availability of credit cards. We introduced India to not just digital payments but also the thriving credit market.The availability of RuPay credit cards on UPI rails is shifting the consumer behavior of Indian merchants and customers towards credit cards. They are also being used to make small ticket purchases, as opposed to the usual norm of high average ticket size via a RuPay credit card.Merchants have taken up digitization beyond merely accepting digital payments. Digitization is helping them in other aspects of their business like credit, invoicing, maintaining ledger/accost, bookkeeping etc. helping their business to grow further.Instead of undergoing separate integration to accept credit card payments, merchants can now avail credit card payments on UPI either via QR codes which are widely accepted by Indians, or even for online transactions. This can be done by simply getting a flag enabled for accepting the RuPay credit card transactions via UPI.