~ IndusInd Bank goes live on RuPay Network for Credit Card
~ Customers can earn accelerated rewards on every spend done through UPI
MUMBAI, India, Nov. 9, 2023 /PRNewswire/ — IndusInd Bank goes live with RuPay Credit Card on UPI with the launch of ‘IndusInd Bank Platinum RuPay Credit Card’, in collaboration with the National Payments Corporation of India (NPCI).
In addition to making seamless payments to merchants via the RuPay network using POS devices and e-commerce websites, IndusInd Bank RuPay credit card customers can now conveniently initiate UPI payments by simply linking their credit cards with the UPI-enabled Apps. With the integration of IndusInd Bank’s RuPay credit card on UPI, individuals can make transactions seamlessly on both online and offline platforms and earn accelerated rewards on their UPI transactions.
Furthermore, the users will have the flexibility to convert reward points into statement credit, air-miles or opt for multiple vouchers options through IndusMoments.
Speaking on the announcement, Mr. Soumitra Sen, Head – Consumer Banking and Marketing, IndusInd Bank, said, “We are delighted to introduce IndusInd Bank Platinum RuPay credit card in collaboration with NPCI. Given UPI’s universal prevalence in India, linking UPI to credit card is a further amalgamation of convenience and features/benefits, all enhancing customer convenience and payment experience. With this card, we open doors to a world of benefits and rewards through UPI, ensuring that customers’ financial aspirations are always within reach, placing the power of effortless transactions right at their fingertips.”
Mr. Rajeeth Pillai, Chief Relationship Management & Marketing, NPCI, said, “We are excited to further strengthen our partnership with IndusInd Bank as they embark on their journey with the RuPay network. IndusInd Bank’s Platinum RuPay Credit Card seamlessly combines convenience of UPI with the rewarding experience of credit cards. RuPay has progressively established itself as a modern, contemporary, and vibrant brand, characterized by tailor-made value propositions supported by cutting-edge technology that ensures both wider acceptability and security. As RuPay credit cards continue to gain momentum in terms of issuances and market share, we at NPCI remain steadfast in our mission to further enhance credit accessibility in India, thereby transforming the way Indian consumers engage in financial transactions.”
About IndusInd Bank:
IndusInd Bank Limited commenced its operations in 1994 catering to the needs of consumer and corporate customers. Since its inception, the Bank has redefined the banking experience for its customers including various government entities, PSUs, retail and large corporations. As on September 30, 2023, IndusInd Bank has a customer base of approx. 37million, with 2631 Branches/Banking Outlets and 2903 ATMs spread across geographical locations of the country and covering 1,43,000 villages. The Bank has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology that supports multi-channel delivery capabilities. It enjoys clearing bank status for both major stock exchanges BSE and NSE and settlement bank status for NCDEX. It is an also an empanelled banker for MCX.
- CRISIL AA+ for Infrastructure Bonds program/Tier 2 Bonds
- CRISIL AA for Additional Tier 1 Bonds program
- CRISIL A1+ for certificate of deposit program / short term FD program
- IND AA+ for Senior bonds program/Tier 2 Bonds by India Ratings and Research
- IND AA for Additional Tier 1 Bonds program by India Ratings and Research
- CARE A1+ for Certificate of Deposits
- Ba1 for Senior Unsecured MTN programme by Moody’s Investors Service
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organization for operating retail payments and settlement systems in India. NPCI has created a robust payment and settlement infrastructure in the country. It has changed the way payments are made in India through a bouquet of retail payment products such as RuPay card, Immediate Payment Service (IMPS), Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), BHIM Aadhaar, National Electronic Toll Collection (NETC) and Bharat BillPay.
NPCI is focused on bringing innovations in the retail payment systems through the use of technology and is relentlessly working to transform India into a digital economy. It is facilitating secure payment solutions with nationwide accessibility at minimal cost in furtherance of India’s aspiration to be a fully digital society.
For more information, visit: https://www.npci.org.in/