With the introduction of RuPay cards on the unified payment interface (UPI) network, the number of merchants with the platform is set to rise, the Reserve Bank of India (RBI) said in its monthly Bulletin on March 21.
“With the RuPay credit cards going live on the UPI platform, merchant adoption is set to gain further traction,” the bulletin said.
The bulletin also mentioned: "A marked expansion in e-commerce-based transactions kept credit card momentum upbeat for a year till February 2023, with the monthly spending of around` Rs 1 lakh crore."
According to the RuPay website, HDFC Bank, Indian Bank, Punjab National Bank, and Union Bank of India are the banks with live RuPay credit cards linked with the UPI system.
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