Mumbai, 17th March 2023: Canara Bank and National Payments Corporation of India (NPCI) have announced that Canara Bank customers can now use their RuPay Credit Card on UPI with BHIM App and other UPI-enabled Apps.
Canara Bank RuPay Credit Cards will be linked to a UPI ID, thus directly enabling safe, and secure payment transactions.
Canara Bank customers will benefit from the increased opportunity to use their credit cards on UPI, and merchants will benefit from the increase in consumption by being part of the credit ecosystem with the acceptance of credit cards using assets like QR codes.
Shri. K. Satyanarayana Raju, MD & CEO, Canara Bank, said “We have witnessed a significant growth in digital transactions in India, and UPI has further revolutionized this trend. At Canara Bank, we are committed to providing our customers with the latest and best-in-class services and functionalities. We are proud to announce the linkage of our RuPay Credit Card to UPI, which will enhance the digital experience of our customers and provide them with ease and increased opportunities to use their Canara Bank RuPay Credit Card. This linkage will also benefit small merchants by allowing them to accept Credit Card Payment through UPI with negligible MDR. The linkage of Canara Bank’s RuPay Credit Card to UPI is just another step towards our continuous endeavor to provide our customers with the latest and best-in-class services and functionalities.”
Commenting on the announcement, Dilip Asbe, MD & CEO of NPCI, said “The linkage of Canara Bank’s RuPay credit card on UPI would benefit customers by providing them with more opportunities to use their credit cards. UPI has become the most popular digital payment product for all ages and genders due to its simplicity, and the collaboration between Canara Bank and NPCI will leverage the reach of UPI and the strength of RuPay credit card to further boost digital payments in the country.”