The utilization of UPI payments is increasing daily, and the reason is very obvious – it is a quick, safe, and cashless mode of making payments. Furthermore, with a boost in digitization, the entire phenomenon of conducting payments has undergone tremendous change. UPI can be seen as a real-time payment service that allows prompt fund transfers from one bank account to another.
It is a completely safe, secure, and customer-friendly mode of facilitating payment and also is greatly accepted among several online and offline platforms and websites. Presently, UPI payments can be made with the help of multiple payment methods, consisting of cards, bank accounts, and so on. Also, as you reach the end of this article, you may be curious to explore how a credit card can be used for making UPI payments. Without further delay, let’s get started!
A chronological guide for facilitating UPI payments with the help of credit cards:
- Step 1: Install a UPI app
- Step 2: Link your credit card and the UPI-enabled application
- Step 3: Get a UPI ID with a credit card
- Step 4: Begin a credit card UPI payment with the help of a credit card
What are the advantages of making use of UPI for making payments?
The UPI, short for Unified Payments Interface mode of payments, has brought forward a tremendous evolution in how we conduct monetary transactions. It refers to a real-time payment service that allows you to transfer money immediately, 24×7, without collecting personal information relating to the recipient.
Stated below are a few primary pros associated with utilizing the UPI as a mode of payment for transactions:
- Quick Funds Transfer:
With the help of UPI, fund transfers are quick and easy and can be done during any hour of the day, including weekends and holidays. Hence, gone are those days wherein you needed to wait for banking hours to transfer funds from one account to another.
- Numerous Bank Account Integration:
UPI lets you link multiple bank accounts to one UPI ID. This implies that you can easily transfer funds from any of your linked accounts hassle-free, thus making it easy and convenient for handling various bank accounts on the go.
- Safe and Encrypted Transactions:
UPI uses two-factor authentication for every transaction, making it one of the most secure modes of payment available. All transactions remain encrypted. Therefore, your personal and monetary data is safeguarded.
- Zero Basic Transaction Costs:
UPI is completely free to use for conducting basic transactions, checking bank account balances, and accessing transaction data, making it a preferable alternative for carrying out transactions compared to other payment methods.
- Can Be Used For Multiple Purposes:
UPI can be easily used for more than one reason, right from recharge, paying utility bills, transferring funds, and a lot more. This makes it a perfect payment method for all your monetary needs and preferences.
Conclusion:
Does linking your UPI and credit card appear to be appealing to you? If yes, installing a mobile banking app can make perfect sense for you as it is apt for regular use and comes with amazing rewards and other redemption benefits. Above that, you can use cashback and rewards, thus making it the ultimate choice to link with your UPI-based app.