Linking of RuPay credit cards with Unified Payments Interface (UPI) will be done in the next two months, Dilip Asbe, Chief Executive Officer (CEO), National Payments Corporation of India (NPCI), said on Friday.
He added that several public sector entities have shown interest in linking their cards with UPI.
NPCI is preparing guidelines on this issue. These will be sent to the Reserve Bank of India (RBI) for approval within the next 10 days.
Major credit card issuers such as SBI Cards, BoB Cards, Axis Bank and Union Bank of India have shown interest and sent their proposals to NPCI.
NPCI will develop the guidelines in consultation with the ecosystem. It will submit a formal proposal to RBI and after the apex bank’s nod, it will be commissioned.
“We hope that the UPI-linked RuPay credit card should be operational within a few months. We talk to BoB Cards, SBI Cards, Axis Bank and Union Bank of India. Once we get approval, we should be able to start in two months,” Asbe said.