UPI integration has resulted in an uptick in demand for RuPay credit cards in India’s Tier-2, 3 and 4 towns and cities, reports a latest consumer study by ZET (previously OneCode), a fintech platform with the 1.5 million agents for financial distribution. The report suggests the percentage of RuPay cards issued through the platform during the April-June quarter stood at 29 per cent while Mastercard and Visa were almost on par with 36 per cent and 35 per cent respectively. However, in the following quarter the demand for RuPay cards surpassed those for Visa and Mastercard. Demand for RuPay credit cards went up by 37 per cent (QoQ) in the July-September quarter across India’s 706 small towns and cities.
Among the banks distributing RuPay cards, the most preferred were Axis Bank, HDFC Bank and SBI.
The demand for RuPay credit cards has been growing steadily every quarter. During the April-June quarter this demand went up by 23 per cent (QoQ). The top-10 cities that witnessed the maximum demand for RuPay cards during July-September quarter were Jaipur, Meerut, Surat, Nagpur, Ranchi, Raipur, Varanasi, Indore, Kanpur, and Jhansi.
Manish Shara, Co-Founder and CEO, ZET said “Ever since the integration with UPI, RuPay credit cards are witnessing a rise in demand for RuPay cards across India’s Tier-2, 3 and 4 towns and cities. Almost 37 per cent of the cards issued through the platform in India’s hinterland during the July-September quarter were for RuPay cards followed by Mastercard (32 per cent) and Visa (31 per cent). This highlights the increasing popularity of digital payments in the country that has now expanded to India’s hinterlands as well. This augurs well for the larger ecosystem as we move towards a digital economy.”
With over 55 partner brands such as SBI, HDFC, Axis Bank and others, ZET has seen a 4x increase in the monthly income of its agents. ZET has been successful in removing the dependency on direct selling agents (DSAs), and bringing transparency in processes.
Rupay is leading due to the feature of UPI linking and payment, but now many merchant are disabling payment via UPI CC.
That’s good news. Merchants may be forced to accept this method in the future. Anyway, it is good for us as it supports local payment system.
gdeal wrote:Rupay is leading due to the feature of UPI linking and payment, but now many merchant are disabling payment via UPI CC.
Yes. I do see many payment rejected bcos of this.. what is the reason do disable UPI CC? Additional charges apply to merchants?
2k tak koi charge nahi to merchant gpay ki tarah option kyo nahi dete .. take upto 2k only.. 🤷
gdeal wrote:Rupay is leading due to the feature of UPI linking and payment, but now many merchant are disabling payment via UPI CC.
Many small vendors like Kirana shops, Sabji wala don't know source money they are receiving in fact many of them not aware of credit cards.
DealsLooker wrote:From last 2 weeks, all RuPay cc transactions are failing with small vendors and shops with barathqr also. Not sure what is the reason.
But which rupay card should we take. For good rewards
Jab koi UPI credit card se payment hi receive nahi karega to kya fayda
Outstanding!! 🙌🤘Putting an end to the VISA's monopoly! 👊 As per RBI's proposal CC will soon have an option to select network provider,that would be icing on the cake.😊
Harsh5 wrote:That depends on your requirements and spending pattern. @abhishek012But which rupay card should we take. For good rewards
gdeal wrote:Rupay is leading due to the feature of UPI linking and payment, but now many merchant are disabling payment via UPI CC.
Irctc is also not accepting UPI cc payment.
abhishek012 wrote:
IRCTC is now accept CC on UPI.
Pay through razorpay and payu gateway.
@gdeal
Thanks, will check.
As I did booking 2 weeks before I remember well I was not able to do cc upi, I tried payu and rozorpay too
abhishek012 wrote:Doesn't work, tried all.
IRCTC is now accept CC on UPI.
Pay through razorpay and payu gateway.
@gdeal
DeleteThisAccountAdminOrBanMe wrote:When you tried ? Try now with razorpay gateway.
Doesn't work, tried all.
abhishek012 wrote:
When you tried ? Try now with razorpay gateway.
Last week. I tried all gateways that allowed payment via a QR & none worked. 4-5 attempts with all diff gateways.
Then I used one where I entered BHIM UPI ID & approved the request, that went through. It was not a well known gateway.
DeleteThisAccountAdminOrBanMe wrote:Pay through UPI checkout or UPI intent transaction.Last week. I tried all gateways that allowed payment via a QR & none worked. 4-5 attempts with all diff gateways.
Then I used one where I entered BHIM UPI ID & approved the request, that went through. It was not a well known gateway.
abhishek012 wrote:Just saw, fees reduced.
Pay through UPI checkout or UPI intent transaction.
DeleteThisAccountAdminOrBanMe wrote:UPI checkout - manually enter UPI ID, send payment request and accept from UPI app
Just saw, fees reduced.I don't do much of anything in phone, so intent transaction isn't for me.
I used SafeX pay & entered UPI ID to pay via request.
What's UPI checkout?
abhishek012 wrote:Ahh okay.
UPI checkout - manually enter UPI ID, send payment request and accept from UPI app
UPI Intent - merchant app, choose your UPI installed apps on your phone and pay.
I book train tickets mostly Rajdhani via Amazon and use only credit cards
gdeal wrote:Rupay is leading due to the feature of UPI linking and payment, but now many merchant are disabling payment via UPI CC.
Lol as if VIsa and Mastercard were leading due to ethical business! I spoke to few experts involved in financial business and its didnt sound right at all about how much clout they had! Rupay will be beneficial for India
Issues will be there. Lets hope it gets better
Rupay is leading due to the feature of UPI linking and payment, but now many merchant are disabling payment via UPI CC.
That’s good news. Merchants may be forced to accept this method in the future. Anyway, it is good for us as it supports local payment system.