Step into Day 6 of the Thrilling 30-Day UPI Challenge!

🚀 🌟 Step into Day 6 of the Thrilling 30-Day UPI Challenge! 🚀 Ready to Unlock the Power of ICICI Bank RuPay Credit Card? 💳

 

🎉 **Exciting News from ICICI Bank! 🌐**

📅 December 01, 2023: Mumbai: Today marks a groundbreaking announcement from ICICI Bank, unveiling the integration of its RuPay Credit Cards with UPI transactions. 💳🚀

This strategic move aims to elevate the payment experience for ICICI Bank customers, providing seamless convenience and enhanced security.

 

🔄 Key Features:

1. Convenience and Security: Customers can effortlessly link their ICICI Bank Coral RuPay Credit Card, ICICI Bank HPCL Super Saver RuPay Credit Card, and ICICI Bank Rubyx RuPay Credit Card to UPI.

This integration enables them to make Person-to-Merchant (P2M) transactions both online (shopping, utility bill payments) and offline (POS transactions) in a secure and hassle-free manner. 🛍️💼

 

2. Reward Points: A delightful addition to this offering is the ability for customers to earn reward points on their RuPay Credit Cards, enhancing their digital payment experience. 🌟💳

 

3. Financial Flexibility: Leveraging UPI transactions on RuPay Credit Cards grants customers an interest-free credit period of up to 50 days. This financial flexibility empowers them to manage expenses more efficiently. 💸📆

 

🤝 Collaboration with NPCI: To bring this innovative offering to life, ICICI Bank has collaborated with the National Payments Corporation of India (NPCI). This collaboration enables customers to link their RuPay Credit Cards to UPI seamlessly. 🤝🌐

 

💡 How It Works: Customers can scan the merchant QR code and make payments directly from their RuPay Credit Cards using any UPI payment app, including iMobile Pay. The process is designed to be user-friendly, ensuring a smooth and secure transaction experience. 📲🔒

 

This integration not only enhances the payment landscape but also reflects ICICI Bank's commitment to providing cutting-edge solutions that cater to the evolving needs of its customers.

 

 Stay tuned for more updates as we continue to revolutionize the digital payment experience! 🚀🌈 #ICICIBank #RuPayCreditCard #UPIIntegration #DigitalPaymentRevolution

🌐 **Paving the Way for Safe ePayments: Declaring Safe ePayDay! ** 🚀

In the vast realm of digital transactions, the spotlight is now on declaring a special day — Safe ePayDay / Safe ePayments Day! 💳✨

 

🚀 The countdown has begun, and the day is fast approaching when we'll join together in a global celebration of Safe ePayDay.

🌍✨ Imagine a day dedicated to promoting secure, seamless, and responsible electronic transactions, uniting individuals, and businesses alike.

 

Stay tuned for the momentous occasion when we collectively recognize and applaud the significance of secure ePayments in shaping a trustworthy financial landscape. 🎉💼

Let's usher in the era of Safe ePayDay, a day where we celebrate the reliability and resilience of electronic payment systems worldwide! 🌐💳 #SafeePayDay #DigitalTrust #SecureTransactions 🚀

📢 Disclaimer: These are my personal views only.

🌐 The focus is declaring a Day as Safe ePayDay / Safe ePayments Day.

🚀 Yes, the day is not far off when there will be a celebration of Safe ePayDay / Safe ePayments Day.

Copyrights if any, belong to the original copyright holder only.

Additional Reading Material: PM’s address in the 107th Episode of ‘Mann Ki Baat’ on 26 Nov, 2023 @ https://www.pmindia.gov.in/en/news_updates/pms-address-in-the-107th-episode-of-mann-ki-baat/

 

 

 

 

💳✨ Happy RuPay Credit Card User Shares Positive Vibes! ✨💳**

Hey there! 🌟 Just wanted to share my absolute delight as a frequent user of the RuPay Credit Card via the UPI channel. These thoughts are purely my own, and I'm all about spreading the joy of safe ePayments! 🤗💳

Using my RuPay Credit Card with UPI has been such a positive and seamless experience. 💖 The convenience of making secure transactions with just a few clicks is truly a game-changer. 🚀💸

I can't help but smile every time I scan and pay at any merchant QR, knowing that I'm not only making a smart payment but also earning reward points as per the individual card issuer.

🎉✨ It's like turning every transaction into a little celebration! 🎈🥳

And the fact that my credit card is now seamlessly integrated with UPI makes everything even more effortless. It's like the future of payments is right at my fingertips! 🌐💼

The dual reward system of some issuer banks is such a fantastic bonus. Whether it's a UPI transaction or a non-UPI one, I'm racking up those Reward Points and loving every bit of it. 😍🔄

Oh, and let's not forget the 1% Fuel Surcharge Waiver. 🚗⛽️ It's like a little gift every time I fill up my tank – making my journeys even more enjoyable! 🌈

So, here's to the joy of safe ePayments and the positive vibes that come with being a RuPay Credit Card user via UPI! 🎊💳 Spread the positivity and happy transacting! 🌟💖

 

*Disclaimer: These are my personal views only, and I just couldn't resist sharing the positive vibes. Keep spreading the joy, fellow ePayment enthusiasts! 🙌💫*

PhonePe – When will you enable UPI Via RuPay Credit Cards at your merchants?

 PhonePe – When will you enable UPI Via RuPay Credit Cards at your merchants?

**Revolutionizing Payments with RuPay Credit Cards on UPI**

In today's fast-paced digital age, seamless and secure payment solutions have become essential for both consumers and merchants. RuPay Credit Cards on UPI are set to transform the credit card experience, offering a host of benefits to users and businesses alike.

          "Unlocking the Benefits of Linking RuPay Credit Cards with UPI"

Discover how to link your RuPay credit card for UPI payments on PhonePe with these simple steps:

1. Start by tapping your profile picture on the PhonePe app's home screen.

2. Navigate to 'RuPay Cards on UPI' in the payment settings section.

3. Select the bank that issued your RuPay credit card and tap 'Proceed to Add.'

4. Enter the last 6 digits of your card number and set your UPI PIN.

5. Verify by entering the OTP sent to your registered number.

6. Choose a new UPI PIN (4 or 6 digits).

7. Re-enter the UPI PIN for confirmation.

However, please note that while these steps facilitate the linking process, PhonePe has not yet enabled RuPay Credit Cards for offline merchant transactions.

PhonePe's Business Solutions for Offline Merchants: Join the 3.5 crore stores already benefitting from PhonePe's innovative payment solutions. Whether you run a small kirana store or manage a large supermarket or showroom, PhonePe has you covered.

          PhonePe's mission is to make life easier through seamless cashless transactions, and PhonePe is dedicated to tailoring a wide range of payment solutions to fit merchants' unique business size and sales volume.

 

Yet, the lingering question remains: Why hasn't PhonePe enabled RuPay Credit Cards for its offline merchants?

 

Additional Reading: PhonePe becomes first payment app to link 2 lakh Rupay credit cards to UPI dt:May 25, 2023 @ https://www.cnbctv18.com/personal-finance/phonepe-becomes-first-payment-app-to-link-two-lakh-rupay-credit-cards-to-upi-16767201.htm

Link to my blog @ https://innovationinbanking.blogspot.com/2023/11/request-to-lulu-hypermart-unlock-power.html

 

Disclaimer: I'm solely focused on promoting the joy of Safe ePayments through UPI, without any affiliation to specific UPI payment apps.

Let's grow the ecosystem together.

  

 

 

Do you have tried out RuPay @ Flipkart, Amazon, Jet Airways, Snapdeal?

            India’s own Payment Gateway – RuPay is adding new online players to its portfolio. Diwali is the biggest motivator for Indians to purchase new goods. This year, the online players took the fight direct to the offline field, by launching mega offers.

            To gain the maximum traction, NPCI signed mega deals for RuPay to be accepted at major online eCommerce portals.

            The main advantage of RuPay cards from a Safe ePayments angle is that the cards are accepted only in India. Thus, RuPay cards do not attract the online criminals.

Sr No	Type of Bank	No of Banks issuing RuPay Cards
01	Public Sector Banks	26
02	Private Sector Banks	09
03	Cooperative and Gramin Banks	203

            Yes, now customers of Cooperative and Gramin Banks too can enjoy the joy of Online Shopping.  

            RuPay through its PaySecure features offers additional feature beyond RBI’s mandated 2 Factor Authentication. 

Gayatri Co-operative Urban Bank (Karimnagar) joins IMPS

      

      The Gayatri Cooperative Urban Bank with its Head Office in Jagtial-Karimanagar has joined the IMPS (Instant Payment Channel)  ePayments channel.

            The bank has branches at "Jammikunta", "Korutla", "Vemulawada" & Karimnagar", "Mancherial" "Nizamabad" and "Metpally"

            The Bank also provides ATM services and Debit Card services through RuPay Debit Card.

            Vemulwada is best known for  Sri Raja Rajeshwara Swamy Temple complex.

Jammikunta name is derived from the word "Dammekunte", a combination of Sanskrit and kannada word.  "Damme"(Sanskrit word) means Lotus and "kunte" (Kannada word) means pond. Hence the very name of the village meaning is Lotus Pond.

Jagtial town is famous for its fort. The fort was constructed with the help of two French Engineers, namely Mr.Jack & Mr.Tal, so the name of the town  at that time was JACKTAL and gradually it became Jagtial and in Telugu language they write it Jagityala.

West Bengal State Cooperative Bank joins the RuPay Debit Card network.

             The account holders of cooperative banks are eager to embrace the latest banking technology in their routine banking activities.  Absence of an ATM Cards was a major drawback for the cooperative banks.

            With the launch of RuPay Card by NPCI, the cooperative banks had a chance to attract more SB accounts into their fold.

            In this regard, West Bengal State Cooperative Bank has taken the initiative to join the RuPay network,  as the first State Co-operative  Bank to take join the National level ATM (NFS) network of the country.

Dr Prakash Bakshi, Chairman of NABARD was in Kolkota to inaugurate this technology project during the last week of December.

            The major benefit will be to the customers of 17 District Central Cooperative Banks under their ambit, as the RuPay card can be issued by the respective district central cooperative banks to their customers.

            The bank was originally registered in 1918 as ‘The Bengal Provincial Co-op. Federation Ltd.’ It was renamed as the ‘The West Bengal State Cooperative Bank Limited’ in 1967.

As it is the number of ATM’s being opened in Tier II and Tier III towns is on the increase. The ATM’s should have a minimum of transactions to break-even. Hence the more the ATM Cards, the more chances of high transactions on  ATMs’.

Central Bank of India to launch RuPay Cards

The RUPAY Card network has added one more member, with Central Bank of India inking an agreement with National Payments Corporation of India (NPCI) for issuance of RuPay cards.

To make the best use of this agreement, Central Bank of India, tweaking all its EDC Machines to be RuPay compliant. With the above feature, the bank will be in a position to issue RuPay cards as well as make payment of all RuPay cards issued by other banks in the country.

The major observation by Central Bank of India, is that the charges currently levied by RuPay are almost at par with others. NPCI has assured that shortly they will bring down these charges.

NPCI is also encouraging banks to issue RuPay cards for Financial Inclusion and Kisan Credit Card.

Central Bank of India, was established in 1911, and has the distinction of being the first Indian Commercial Bank wholly owned and managed by Indians. Central Bank of India, was the dream of Sir Sorabji Pochkhanawala, founder of the Bank.

The Bank recently celebrated its 100 years of existence.

Over the years, various innovative schemes were launched by the bank. The most noteworthy was the launch of an Exclusive Ladies Department to cater to the Bank's women clientele, that too in the year 1924.

Tata Industrial Bank founded by Shri.J.R.D Tata was acquired by Central Bank of India, in 1923

A magnificent book on Bank's History was released as part of its centennial celebrations.

Rupay Cards – Authentication of online transactions via PaySecure online PIN Pad.

Well, the PIN Pad is not a physical instrument, it is a visual online i.e virtual Pin Pad.

Acculynk and National  Payments Corporation of India (NPCI) have announced an Internet PIN Debit Partnership, for Rupay Debit Cards.

Top 10 points’ of this tie-up

1. RuPay is a PIN (Personal Identification Number) - only based debit card. This means at POS Terminals, to execute a transaction a PIN is required.
   
   
2. Separate technology is required to integrate the PIN Based option for eCommerce. Towards this end, NPCI has partnered with Acculynk.
   
   
3. The same PIN number is valid for all ATM/POS/eCommerce transactions.
   
   
4. Now eCommerce Rupay Debit Card purchases will have the additional and mandatory safety of two factor authentication.
   
   
5. RuPay debit card was launched on 26th March 2012 with 4 Banks i.e State Bank of India, Bank of Baroda, Bank of India and Union Bank of India.
   
   
6. In the initial phase banks accepting RuPay Debit cards on their POS terminals are Axis Bank, Bank of Baroda, Corporation Bank and State Bank of India.
   
   
7. As on Feb 12, the number of POS Terminals the above Banks had are Axis Bank (1,98,297), Bank of Baroda (4558), Corporation Bank (14,480), State Bank of India (0).,
   
   
8. With Acculynk’s PaySecure®, online shoppers enter their PIN on a virtual PIN-pad at the merchant checkout, and only need their existing debit card and a PIN number to complete the transaction. There are no hardware devices, additional passwords, or redirection to another website for payment.
   
   
9. RuPay logo is already there on most of the ATMs in the country, and very shortly it will be visible in most POS Terminals across the nation.
   
   
10. It will take another couple of months, before you can obtain a Rupay Debit Card and start swiping it for transactions.

Black Money in India – ePayments tricks to reduce it

Today’s Post is with reference to the White Paper presented to Indian Parliament by Finance Minister, Mr.Pranab Mukherjee.

This report has been prepared by Ministry of Finance, Department of Revenue-Central Board of Direct Taxes.

To Safe ePayments professionals, the Black Money-White Paper holds lot of promise. Some suggestions in the White Paper have the potential to boost the ePayments volumes.

The following are noteworthy from the epayments angle.

QUOTE

Para No 5.2.27- Page No 55

Another important measure in this regard could be the promotion of banking channels including use of credit and debit cards, since they leave adequate audit trails and hence disincentivise black money generation.

The opposite is true of trade practices that block the audit trail, such as cheque discounting, which can be discouraged applying the same logic. With electronic transfer facilities being available to trade, one can foresee this as one of the major thrusts towards strengthening accountability and discouraging unaccounted activities.

Towards this end, some important initiatives have already being taken which include the reduction of the validity period of cheques and demand drafts from six to three months with effect from 1April 2012, which will discourage discounting of negotiable instruments.

Payments by debit and credit cards through Indian e-service intermediaries like 'RuPay'2 can further bring down the costs of using such cards, improve their acceptability, and thereby encourage payments in these modes and reduce the cash economy.

It is imperative that payment of wages and salaries in the private sector should also be through banking channels and should become cashless, in line with the government objective of financial inclusion.

Government can also deliberate providing tax incentives for use of credit/debit cards as practiced in Republic of Korea.

Provisions for collection of tax at source at a low level on cash purchases may also be considered as a possible policy option.

UNQUOTE

Once Rupay is up and running, the transaction cost to all the participants will reduce drastically. As of now, in small/medium shops 2% excess is charged, if the customer desires to pay via Credit/Debit Card. Hence, customers do no tend to opt for the Credit/Debit card payment option.

Plus industry wide push is not still not very much visible. Continuous campaigns to educate the customers the benefits of Credit/Debit Cards will aid in increasing the volumes.

In the recent past, State Bank of India was running a TV Campaign and AXIS a Print/TV Campaign. Visa/Mastercard too run campaigns.

However, ways should be found out, to reduce the Credit/Debit fraudulent transactions. Otherwise, with the increase in the volumes, the fraudulent transactions too will increase.

RuPay Debit Card - India’s Own Card launched.

On 26/03/2012, India's own Card. 'Rupay', was launched.

The top 5 features of the launch are : -

1. Rupay payment network was inaugurated by Shri G. Padmanabhan, Executive Director, Reserve Bank of India.
2. Rupay Debit Card launched
3. Rupay Prepaid Card launched
4. Rupay Credit Card to be launched soon.
5. Rupay Debit Card to be accepted at 91,000+ ATM's and 6,00,000+ POS terminals all Pan-India.
6. Bank of India and Union Bank of India, are the first Banks' to offer Rupay Debit Cards to their account holders.
7. POS terminals of Axis Bank, Bank of Baroda, Corporation Bank and State Bank of India, will accept Rupay Debit \ Pre-paid Cards in the initial phase.
8. No initial participation fee and quarterly minimum processing fees. This would encourage Regional Rural Banks, Co-operative Banks and smaller commercial banks to offer ePayments to their account holders.

At present 26.80 crs debit cards have been issued by Indian Banks and in the near future, this number will go up, with more account holders opting for ePayments.

Now, with 'Rupay' in the field, the transaction costs for Banks are expected to go down substantially, Banks will be able to encourage ePayments.  

Discover Cards and Diner Club International Cards part of India's RuPay Network.

Today, i.e March 07, 2012 a new chapter in the Indian Payments has begun.

A strategic alliance between Discover Financial Services (DFS) and National Payments Corporation of India (NPCI), has been announced.

The top 11 points about this strategic alliance.

1. At present Diners Club International (DCI) cards are accepted at CitiBank ATM's.

2. Discover cards and Diners Club International (DCI) cards will be accepted at NPCI ATMs and point-of-sale terminals for purchases in India.

3. RuPay (the national card payment network in India) cardholders will be able to utilize the Discover, Diners Club International and PULSE networks for international purchases and cash access outside of India.

4. The companies are also working to implement D-PAS, Discover’s EMV technology, to offer chip-based cards to RuPay cardmembers.

5. The arrangement will be implemented in 3 phases. Phase 1) DFS and DCI cards will be accepted at RuPay ATMs in India. Phase 02 ) DFS and DCI cards will be accepted at RuPay POS locations. Phase 03) Acceptance of RuPay Global Cards on Discover’s global payment network outside of India.

6. The final aim of the network-to-network alliance between DFS and NPCI is the issuance of RuPay Global cards, once the domestic RuPay cards being launched later this month stabilize.

7. Discover, like American Express Co. (AXP), typically issues its own credit cards and operates a payments network that processes transactions.

8. Visa and MasterCard, only process transactions. The higher transaction volume helps boost their revenue.

9. Discover has a smaller acceptance footprint internationally than does American Express, Visa and MasterCard, though it has been working to change that.

10. At present there are 120 million+ DFS and Diners Club cards worldwide and these card holders can enjoy the wide reach of RuPay network in India, of over 90,000 ATM's.

11. In the near future, DFS and DCI cards would also be accepted at over six lakh POS terminals that are linked to the NFS.