BOB Financial Solutions Limited (BFSL), a wholly owned subsidiary of Bank of Baroda, and National Payments Corporation of India (NPCI) today announced that Bank of Baroda Credit Card customers can now use their RuPay Credit Cards on UPI with BHIM and other UPI enabled Apps. BOB Financial is one of the largest issuers of RuPay Credit Cards in the ecosystem.
This enablement would open doors for Bank of Baroda RuPay Credit Card users to transact across all the merchant outlets with QR codes and POS devices in the country backed by convenience and security assurance of UPI.
On the occasion, Sanjiv Chadha, Managing Director & CEO, Bank of Baroda, said, “UPI has revolutionised payments in the country and BOB Financial is pleased to partner NPCI in enabling credit card transactions on UPI on the Bank of Baroda RuPay credit cards. Credit Card on UPI gives our customers access to the ease and convenience of transacting on UPI while they continue to enjoy the benefits of a credit card. And they do not even have to carry the card with them. With this launch, we expect a significant rise in the use cases for making payments via credit cards, resulting in our cardholders engaging much more with their Bank of Baroda RuPay Credit Card.”
Commenting on the announcement Dilip Asbe, Managing Director & CEO, NPCI added, “UPI, India’s very own payment system, has witnessed a journey to be one of the most popular system in India and now embarking its global journey. The addition of Bank of Baroda Credit Cards on UPI rails is a big milestone in the growth trajectory of both RuPay and UPI. RuPay Credit Cards’ linking with UPI is transforming the way in which the credit consumption is perceived by the users in the country. The seamless and digitally enabled lifecycle of a credit card utility for a customer, with the added benefits of rewards shall catalyse our dream of underwriting every Indian.”
Bank of Baroda RuPay Credit Card customers can now directly link their credit cards with the UPI applications of their choice, such as BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik and PayZapp.