Quote on Monetary Policy announcement by Saurabh Puri, Zaggle
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Below is quote on Monetary Policy announcement linking RuPay credit cards to UPI by Saurabh Puri, Chief Business Officer - Credit Cards, Zaggle
UPI is one of the biggest success stories in India and RBI’s announcement of linking RuPay credit cards with UPI is a progressive move to catalyze digital payments in the country. A lot of small value transactions that are happening today will now automatically come under the purview of credit cards, which is one big advantage to grow the volume of cards and also increase the overall coverage. There is now also a huge convenience factor for the customers because UPI is a frictionless way of transacting. It is still not clear how the Merchant Discount Rate (MDR) will be applied for UPI transactions linked to credit cards.
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