CURRENT AFFAIRS

Detailed explanation-1: -“We are launching payments through RuPay Credit Card on UPI in partnership with NPCI, and believe that this will enable convenience of payments, while also leading to greater penetration of the credit ecosystem in India, ” said Surinder Chawla, managing director and chief executive of Paytm Payments Bank.

Detailed explanation-2: -Understanding the scale of card growth and its potential in India, the National Payments Corporation of India (NPCI) introduced the RuPay card in March 2012. Domestically developed, the name ‘RuPay’ is derived from a blend of the words ‘Rupee and ‘Payment’.

Detailed explanation-3: -Fintech apps such as MobiKwik and Paytm now allow users to link their RuPay credit cards to UPI (Unified Payments Interface) for all merchant payments. To deepen the usage of digital payments via UPI, the Reserve Bank of India, in June 2022, allowed linking of credit cards to the UPI platform.

Detailed explanation-4: -Make Online Credit Card Payment at Paytm Paytm allows you to make credit card bill payment for the Visa, Master, American Express (Amex), and Diners credit card of all the major bank.

Detailed explanation-5: -Union Bank launches ‘Union MSME RuPay Credit Card’ With Union MSME RuPay Credit Card, the MSME borrowers will be able to enjoy an interest-free credit period of upto 50 days on their business spends. The Card also offers EMI facility to the Customers on their business-related purchases.