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Great News - Now get the same rewards on RuPay CC UPI transactions as we get on Credit Card transactions

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abhishek012

Great News - Now get the same rewards on RuPay CC UPI transactions as we get on Credit Card transactions:

RuPay Credit Cards Rewards Parity w.e.f. 1st September 2024

Credit card rewards points are a key lever to drive spending on credit cards. It has been observed that the rewards points, benefits & features for RuPay credit cards on UPI transactions are not equivalent to the rewards points, benefits & features offered on Card transactions.

Member banks are expected to adhere to the circular by 1st September 2024.

rupayreward

Source: https://www.npci.org.in/PDF/npci/rupay/2024/RuP...

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Deal Subedar Deal Subedar
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what does it even mean 😓

Helpful Helpful
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Either we will get same reward points as usual as card to upi or card reward points will devalued to upi reward points

Heart of Gold Heart of Gold
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They should instead focus on making merchants accept rupay credit cards for txn under 2000

Heart of Gold Heart of Gold
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They should instead focus on making merchants accept rupay credit cards for txn under 2000

Savings Mentor Savings Mentor
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Yeah the uncertainty of whether RuPay CC via UPI is accepted or declined results in a bad user experience when making the payment

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Deal Subedar Deal Subedar
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what does it even mean 😓

Helpful Helpful
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Either we will get same reward points as usual as card to upi or card reward points will devalued to upi reward points

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Benevolent Benevolent
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Rupay cc class ka vo bacha hai jo na khud kuch padhta hai aur na kisi aur ko padhne deta hai. at the end apne saath sbko fail krva deta hai.
Finance Ninja Finance Ninja
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Log aur jada UPI transaction karenge, halaki bank ko MDR toh milega, Banks profit me he rahega.
Heart of Gold Heart of Gold
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They should instead focus on making merchants accept rupay credit cards for txn under 2000

Savings Mentor Savings Mentor
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Yeah the uncertainty of whether RuPay CC via UPI is accepted or declined results in a bad user experience when making the payment

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Deal Cadet Deal Cadet
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From the past couple of months, my nearby Grocery store turned off the rupay credit card upi acceptance. Now, I need to shell out money from my savings account. It sucks 😕.  I prefer separate transactions entry for calculating my monthly spends and rupay credit card upi serves pretty well.

Post Emperor Post Emperor
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maybe try to find another one nearby. Exactly for same reason I use rupay card UPI. It keeps bank statement minimal and clear.

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Deal Lieutenant Deal Lieutenant
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mhm good news:) this will keep making people use Rupay more xD 

since many i heard stopped using Rupayscan and pay on credit card because of different reward structure for rupay and the card variant

Eg: SBI SimplySAVE rupay behaves differently in rupay compared to swipe i heard (so i never used rupay in it:) i use swipe in it always at offline merchants)

VU+ for the news the good news to reach more

Deal Newbie Deal Newbie
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Which cards have such discrepancy? 

I know IDFC Vistara's rupay digital card gives 1 CV points whereas Mastercard gives 6 or 4 CV, will they have to change as well?

Finance Ninja Finance Ninja
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IDFC Vistara card is not available on RuPay variant yet.

IDFC Digital Virtual RuPay Credit Card is floater card.

IDFC customers ko bewakuf bana rahe hai aur customers bann rahe hai.

IDFC Vistara agar RuPay me available hota toh atleast digital RuPay variant card spend pe same reward mil raha hota.

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Community Angel Community Angel
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@abhishek012 With this will HDFC Tataneu will be forced to give 1.5% (in case of infinity) even if we do rupay upi txns not from their TataNeu app? Right now, if we do rupay upi txns from other UPI apps, they are offering only 0.5% from 1st August

Deal Captain Deal Captain
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+1

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Deal Newbie Deal Newbie
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Please make it mandatory for small/big merchant to accept less than 2k tnx using Rupay CC upi

Deal Captain Deal Captain
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They should reduce merchant charges to only 0.1 % for transactions btw 100 to 500. And increase as acc. Upto 1.5 % max.

No extra charges upto 100 payment.

Then only merchants will allow rupay cc UPI & Rupay can capture market in upcoming years.

Both Visa & Mastercard are American byproducts which should be avoided at the earliest but sadly not happening at a faster rate than expected.

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Savings Mentor Savings Mentor
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It is a good move no doubt but banks will use tricks to escape the "rule":
1. Core REWARDING card on Visa/MC while a useless FLOATER card created where card txns as well as UPI txns have parity but reward rate is poor compared to core card. So the banks claims we are providing rewards parity and following NPCI rule.

2. Even if the reward rate on RuPay CC UPI is same as card txn, they put a capping on UPI txns but no capping on card txn.

The circular needs to be clear about all these points to prevent banks from (mis)using these loopholes

Generous Generous
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Chalo dekhte hain.. rwd upar jatq hai ya niche march karta hai. Ye mcc code wala bhi circular ana chahiye.. jqb jiska man kiya koi mcc chipka deta hai kisi bhi transaction par

Blaze Blaze
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Another bureaucratic interference.

Finance Ninja Finance Ninja
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Absolutely right, Visa card forcing banks to issue Super Premium and Ultra premium cards on Visa network.

All cards should be offer same reward points, whether we use Axis IOCL, Neo Card or Axis Atlas, Burgundy Private, Magnus Card etc. right ?

4 Year ago, SBI and NPCI told that Visa card has a lot of influence in Indian banks.

This is called bureaucratic interference.
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Deal Subedar Deal Subedar
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This will be good for many fuel credit card users, as many fuel card don't give rewards on upi transaction 

Finance Ninja Finance Ninja
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Yes, Axis IOCL RuPay already offer 4% Reward point on UPI spend for Fuel purchase.

I think HDFC Tata Neu and BOB Snapdeal Card will also remove UPI spend capping limit.
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Deal Lieutenant Deal Lieutenant
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So acc to RBI every card should be made available in all networks of VISA -MASTERCARD & RUPAY so going by this SBI CB should be available in RUPAY variant sooner or later and Then the same 5% cb should also work on the RUPAY UPI CC transaction  on ONLINE MERCHANT TRANSACTIONS (subject to exclusions on MCC) 

Or say INFINIA getting rewards on digital HDFC RUPAY CARD.... is it the right analysis?? @abhishek012 

If yes there are more loopholes to Fix otherwise banks are going to devalue the rewards for all CARDS to avoid being burnt by this change 

Savings Mentor Savings Mentor
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RBI has said card should be launched on more than 1 network so it can be Visa and MC or Visa and Amex still

Also floater RuPay CC for UPI will still not get the rewards. That's exactly what banks do to give less rewards on RuPay and on UPI

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Generous Generous
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So far, which banks are offering UPI on add on cards also?

Finance Ninja Finance Ninja
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Recently, many banks start offering UPI on add on cards too.

Here are few banks name but other banks now also offer UPI on add on cards - https://www.desidime.com/discussions/now-link-a...
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Helpful Helpful
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Which rupay CC is best...i dont have any

Benevolent Benevolent
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Bro, it depends on your requirements, but you can start by comparing the following cards :
  • HDFC Tata Neu Infinity
  • Kotak Myntra
  • PNB Rupay Select
  • Bob Snapdeal
  • Kotak IOCL
  • Axis IOCL
The PostMighty The PostMighty
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Idk .. Why most of the times UPI through rupay credit card transactions gets declined ... ?

Can anyone explain ...

Finance Ninja Finance Ninja
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Because small merchants disabled CC UPI payment acceptance.

No issue on big merchant payments.

Also banks declined your transaction if you do multiple transaction on small merchant.
Deal Cadet Deal Cadet
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I have a merchant account and someone paid 2000+ and then around Rs 16 was deducted from my Phonepe merchant. My dad came to me with it and asked me to close the Rupay CC option so that we don't incur this loss in the future. Now imagine 1000+ people do this in 1 month, so I get it why merchants don't want to pay the price, they don't see any benefit on their end. If Phonepe can give me an option that any amount above Rs 2000 will not be able to pay using CC, I will gladly turn it back on so that customers with lower value can use this feature but no way a small business is going to absorb that loss when he can get full value with bank UPI.

Finance Ninja Finance Ninja
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Googlepay merchant account and some Paytm merchant account have an option to disabled accept payment above 2k+

Note - dnt misuse this FREE MDR. Otherwise banks/payment apps will impose MDR on your under 2k transactions too.

Misuse means that some merchants are helping customers for rotating CC to bank, they accept RuPay CC UPI payment and give cash to customers. Dnt do this type of thing.
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Entertainer Entertainer
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Last time I used rupay cc was 3-4 months back, neither tata neu infinity or indusbank rupay cc works in any merchant I scan, be it grocery, chicken, doctor fees or even beer shops etc.


Rupay cc are waste of time. Correct me if I am wrong.

Post Emperor Post Emperor
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you are absolute right.

Generous Generous
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- now they either will increase mdr cahrge so heavily and shamelessly that all merchant will disable rupay on QR codes

-or will devalue in form of limit for QR txn

-i say it again , indians are best honest whole hearted people on earth who believes in giving to enviroment fellow people , that is why india is best country in the world

Finance Ninja Finance Ninja
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MDR charges already implement properly and banks already earned profits through MDR.
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Benevolent Benevolent
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Good move to decimate Visa monopoly blush  raised_hands punch

Benevolent Benevolent
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The monopolistic days of Visa are over. It used to force banks to stop issuing cards with other networks. Yet another nail in the coffin of Visa smile     

Finance Ninja Finance Ninja
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Even local merchants are charged 50rs mdr for a 1900 txn through hdfc infinity rupay cc

Deal Cadet Deal Cadet
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really ?? i thought there is no MDR for rupay till 2000rs
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Helpful Helpful
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if MDR isn't same how can reward be same O.o also what about MCC, how can a QR have MCC and even if it does it will be some common MCC which won't comply with the stuff we buy much.

Finance Ninja Finance Ninja
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RuPay credit card UPI transactions incur the same MDR fee as regular credit card transactions, so banks earn the same MDR revenue.

In some cases, certain payment companies charge a higher MDR on RuPay credit card UPI transactions for selected categories.

Banks continue to earn MDR.

For example, the BOB Snapdeal credit card offers 2.5% cashback on card transactions and 1% cashback on RuPay credit card UPI transactions -

If I purchase something on Amazon using the BOB Snapdeal RuPay credit card (Card OTP-based transaction) and the MDR is 2%, the issuing bank, BOB, receives 60% of the MDR revenue, which means BOB earns 1.20%.

Now, if we use the BOB Snapdeal RuPay credit card UPI transaction on Amazon to purchase the same product and the MDR is 2% (or higher in some cases), the issuing bank BOB still receives 60% of the MDR revenue, which means BOB earns 1.20% or more if the MDR is higher.

So, the question is, why ? why does BOB offer only 1% cashback on RuPay credit card UPI transactions when BOB still earns the same MDR fee?

Note: You might ask the question, "Isn't BOB incurring a loss by offering 2.5% cashback while earning only 1.20%?" Yes, but that's a different question. BOB is incurring a loss on direct card transactions as well. It's not that they're profiting from one and losing on the other. BOB is experiencing the same profit or loss in both cases; it's just the mode of the transaction that's different.

And don't forget, the BOB Snapdeal card was just an example. Many other credit cards offer a flat 1% cashback on RuPay credit card transactions (Card OTP-based transaction) but do not provide 1% cashback on RuPay credit card UPI transactions or have caps on the cashback. However, the bank's earnings from the MDR remain the same.

Let's understand with another example - 

Take the TATA Neu Infinity card as an example. It offers 1.5% cashback with a cap of ₹500 on UPI transactions.

If I use the TATA Neu Infinity card to directly buy something worth ₹1 lakh or use the TATA Neu Infinity card via UPI to buy something worth ₹1 lakh, I would get ₹1500 cashback on the card transaction but only ₹500 cashback on the UPI transaction.

The question remains the same: why? When the bank earns the same MDR fee from both types of transactions, aren't they discriminating against credit card UPI transactions? Think about it.

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Deal Cadet Deal Cadet
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IRCTC counters disabled Rupay cards on POS. 

Post Emperor Post Emperor
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make in india gya tel lene

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Deal Cadet Deal Cadet
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plus1

Deal Newbie Deal Newbie
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But at the same time axis iocl charhe too many extra money for the petrolI fuel my 2 wheeler for 340.rs. manu time and never check statement But last month when i checked i am shocked Iocl axis bank charged 351.80 rs. For the transaction That means 11.80 ra extra each time I am totally shocked that this much amount of money even for iocl card iocl petrol pump

Deal Cadet Deal Cadet
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Rs 10 + GST that is normal charge only for most cards. 1% or Rs 10 whichever is higher read TnC.

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Comrade Comrade
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plus1

Generous Generous
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Tata neu bhi dega fir as they reduced only this month on upi.. lets see.. achhe kaam kam hote hain bure kaam jyada..

Generous Generous
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BANK will not give thsi so easily as they are indian banks and india is best country in the world 

-so be ready to take offcial notification and filing rbi banking ombudsman 

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