RBI on RuPay Credit Card-UPI Linkage: UPI usage will increase due to RuPay credit card linkage, P2M transactions will also increase

byNavin Yadav • • 2 min read
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Technology for MSMEs: Integration of RuPay credit cards with Unified Payment Interface (UPI) will help business a lot. By linking the two, UPI merchants will be able to provide all the facilities like overdraft, capture and hold facility, enrolling support. These things have been said by the Reserve Bank of India in its August 2022 bulletin.
The Reserve Bank believes that after the integration of RuPay credit card with UPI, Person-to-Merchants (P2M) transactions of UPI will get a boost. RBI has said that this change will increase the share of P2M transactions in the total UPI transactions. The average value of a Person to Merchants (P2M) transaction done through UPI in July 2022 was Rs 769.

At present, there are more than 26 crore UPI users in the country, which includes more than 50 million merchants. This information was given by RBI Governor Shaktikanta Das in the month of June. According to the National Payments Corporation of India (NPCI) data, 628.8 crore transactions were done through UPI in July 2022. About Rs 10.63 lakh crore transactions were done through these transactions. Of these, there were 299.9 crore P2M transactions, through which transactions worth about Rs 2.30 lakh crore were done.
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