When it comes to personal financing options, credit cards take center stage. This holds true because credit cards are a modern preference. This stems from the advantage they offer, which comprises convenience and security features accompanied by universal recognition for online as well as in-person transactions.
Taking into consideration the dependence of Indian credit card users along with an aim to facilitate the growth to India’s digital payment framework, the Reserve Bank of India and the Government of India together have launched the RuPay credit card.
One of the most popular credit cards being talked about a lot these days is the RuPay credit card. These modern credit cards, when linked with UPI, offer simplified digital transfers and digital payments. Let’s learn more about the RuPay credit cards and how you can apply for them.
What is a RuPay Credit Card?
Initiated by the National Payment Corporation of India(NPCI), RuPay credit cards are a domestically developed worldwide financial service. They operate similarly to other payment service systems like VISA, Mastercard or American Express. RuPay credit cards are recognised throughout India, and many other countries also accept it as a viable payment option.
Reasons to Apply For a RuPay Credit Card
Here are the top reasons why you should apply for a RuPay credit card:
Cost-Effective & Swift Transactions:
The foremost advantage of RuPay credit cards is their economical transaction fees. The fee isn’t too expensive compared to foreign credit card companies like MasterCard, Visa, and American Express. RuPay transactions are settled in Indian rupees, so the transaction fee of RuPay credit cards is fairly lower, ultimately benefiting both merchants and customers.
In addition, RuPay’s servers have roots in India, which is a supplementary benefit that contributes to speedy payment processing.
Nationwide Acceptance:
The highlight of using RuPay credit cards is that they are acquiring approval nationally and internationally. They can be used at many partner stores and ATMs across the country, along with all the major online shopping platforms. Whether you are paying for groceries, apparel, books, or gadgets, using RuPay cards can enhance your overall shopping experience.
Rewards and Perks:
RuPay credit cards are the unification of the Reserve Bank of India and the Government of India. They have an expansive network of brand tie-ups that provide users with a range of rewards while transacting. These rewards can be redeemed later for other purchases at partner merchants or as cashbacks. For example, when you shop for groceries and pay using a RuPay credit card, you accumulate a certain set of reward points that can be redeemed later for other purchases, helping you save money.
Safeguarding Against Frauds:
There is nothing more important than security when it comes to managing financial transactions. With the introduction of digital payments, there has been a threat of cyber fraud everywhere. However, with a RuPay credit card, there is no reason to feel concerned. These cards are one of the most secure credit cards in India. Introduced by NPCI, these cards use many security features and safety protocols when users make any transaction. The card offers authentication measures accompanied by dynamic CVV (Card Verification Value), making it safe and secure for users.
How to Apply For a RuPay UPI Credit Card
Applying for a RuPay UPI Credit Card in India is simple and can be done online at any major bank or financial institution. Below are the steps for credit card apply
Online method
- Go to your preferred bank website.
- Navigate to the credit card section and choose your variant from the list of cards, in this case, the RuPay credit card.
Enter your mobile number for OTP verification. - Once you receive the OTP, verify it and proceed further.
Fill in the required details like PAN card, date of birth, etc. and submit. - The bank has received your application and will contact you with further requirements.
The verification and approval process takes a few hours, and after approval, you can receive your card within a few business days.
Conclusion
RuPay credit cards are one of the most preferred credit cards in India today. Existing users can be seen upgrading their credit cards to RuPay credit card variants. To apply for a RuPay credit card, the process has become hassle-free, with online application to approval aiding the customers and helping them simplify their financial journey. However, we encourage applicants to research the credit card provider carefully and apply for a RuPay credit card through reputed banks such as ICICI Bank. Whether you are shopping for gadgets, groceries, appliances or apparel, this card can be the best way to save money and enjoy perks like never before.
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