Credit Card Users: The usage of credit cards is growing swiftly in India. As of February 2024, India has over 10 crore active credit card holders. You might be astonished to learn that in the initial seven months of the financial year 2025, Rupay credit card transactions via the Unified Payments Interface (UPI) have nearly doubled.
Online transactions among common people is increasing significantly
This data has been gathered from the information provided by the Finance Ministry. RuPay is the domestic payment network system of India. It was initiated in the year 2012 by the National Payments Corporation of India (NPCI). The RuPay credit card was introduced in June 2017.
UPI transactions using RuPay credit cards increased day by day
UPI transactions using RuPay credit cards increased twofold in the initial seven months of FY 2025 compared to the equivalent timeframe in FY 24. UPI RuPay credit card transactions reached 36.28 crores in FY 24, amounting to a total transaction value of Rs 33,439.24 crore. In the latter half of FY 23, there were 0.86 million transactions documented, amounting to a total value of Rs 134.67 crore.
From September 2022, RuPay began connecting its credit cards to UPI
There is seldom a choice for using UPI for credit card transactions, but in September 2022, RuPay began connecting its credit cards to UPI. This indicates that users can now connect their RuPay credit card to the UPI application. Users can now directly make UPI payments using RuPay credit cards.