News > RBI’s UPI-credit card linking plan is not adding up for banks, fintech

RBI’s UPI-credit card linking plan is not adding up for banks, fintech

The central bank’s move to open credit card transactions on the Unified Payment Interface—India’s preeminent digital payment network—is throwing up a slew of challenges from lack of clarity on merchant discount rates to confusion on merchant authentication and know-your-customer (KYC) norms.

Currently, UPI payments are routed through debit cards and bank accounts with the RBI now permitting the introduction of RuPay credit card payments.