No charges will be levied on the use of RuPay Credit Card for transactions up to Rs.2000

 Recently, the National Payments Corporation of India (NPCI) has made an important announcement regarding the charges levied on the use of RuPay credit card. Now there will be no charges for transactions up to Rs 2,000 on Unified Payments Interface (UPI) using RuPay credit cards.

 In view of international transactions, the existing process through the app will be applicable for credit cards as well.

 Zero Merchant Discount Rate (MDR) will be applicable for this category up to transaction amount less than and equal to ₹ 2,000. RBI has approved the linking of RuPay credit card with UPI. It will provide a seamless and digitally enabled credit card experience to the customers.

 Customers will have more convenience with the ease of using their credit cards. The credit card can now be linked to the Virtual Payment Address (VPA) i.e. UPI ID. In this way direct and secure payment transactions can be done.

Merchant Discount Rate (MDR)

 MDR is the cost paid by a merchant to a bank for accepting payments from its customers through credit or debit cards.

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