UPI on credit card: How can you activate it on your smartphone? | Mint

In today’s financial ecosystem, using a credit card has become more of a norm than a choice. At the same time, making payments through UPI –  by and large – has surpassed debit card payments by a wide margin.

The value of UPI payments spiked from ₹17.15 lakh crore in Oct 2023 to ₹23.49 lakh crore in Oct 2024, a jump of around 37 percent in one year.

During the same period, the value of debit card transactions declined from ₹52,000 crore to ₹46,920 crore, reflecting a fall of around 10 percent.

However, there is a sweet spot. You can link your credit card to the UPI and make payment through it. RBI had approved UPI payment through credit lines in June 2022.

Banks included

Since then, it has been widely expanded across banking channels. Currently, 22 banks live on RuPay credit card on UPI. These include Punjab National Bank, Union Bank of India, Indian Bank, HDFC Bank, Canara Bank, Axis Bank, ICICI Bank and Kotak Mahindra Bank.

And in order to use this, you can link your RuPay credit card on any of the UPI apps which include BHIM, PhonePe, GPay, PayZapp, GoKIWI, Slice, Paytm, MobiKwik, BHIM PNB, Canara Ai1, Groww, Cred, ICICIiMobile, Navi, Sriram Finance, FreeCharge and Amazon Pay, among others.

How to activate it

1. First of all, you need to download the BHIM app from Playstore.

2. Now you can complete the registration and select a credit card as an option.

3. Choose the issuing bank name from the drop down.

4. Based on the mobile number update with your bank, a masked credit card will show on the screen.

5. Now you can select the card which you want to link and confirm.

6. Now you can proceed to generate UPI PIN.

7. Later, you can change your UPI PIN of your credit card by selecting ‘change UPI PIN’ from the dropdown menu.

(Note: Using a credit card carries its own set of risks)