The National Payments Corporation of India (NPCI) announced the transaction limit for RuPay Credit Cards on UPI. The limit for RuPay Credit Card on UPI transactions shall be the lowest of the following.
The National Payments Corporation of India (NPCI) announced the transaction limit for RuPay Credit Cards on UPI. The NPCI, in a circular issued on November 16, 2023, stated that this has been done in an effort to enhance customer satisfaction and enable users to make high-value e-commerce, travel and hotel reservations, health care service, and educational institution bookings.
The limit for RuPay Credit Card on UPI transactions shall be the lowest of the following, as per the NPCI circular:
- RuPay Credit Card limit set by the issuer
- The limit put in place by the issuer for ‘RuPay Credit Card on UPI’ transactions as per their risk management framework.
- Limit set by the customer, as per RBI circular on Enhancing Security of Card Transactions dated January 15, 2020.
What the January 15, 2020 RBI circular states
According to the RBI’s January 15, 2020 circular, Enhancing Security of Card Transactions:
a) At the time of issue / re-issue, all cards (physical and virtual) shall be enabled for use only at contact based points of usage [viz. ATMs and Point of Sale (PoS) devices] within India. Issuers shall provide cardholders a facility for enabling card not present (domestic and international) transactions, card present (international) transactions and contactless transactions, as per the process outlined in para 1 (c).
b) For existing cards, issuers may take a decision, based on their risk perception, whether to disable the card not present (domestic and international) transactions, card present (international) transactions and contactless transaction rights. Existing cards which have never been used for online (card not present) / international / contactless transactions shall be mandatorily disabled for this purpose.
c) Additionally, the issuers shall provide to all cardholders:
i. facility to switch on / off and set / modify transaction limits (within the overall card limit, if any, set by the issuer) for all types of transactions – domestic and international, at PoS / ATMs / online transactions / contactless transactions, etc.;
ii. the above facility on a 24×7 basis through multiple channels – mobile application / internet banking / ATMs / Interactive Voice Response (IVR); this may also be offered at branches / offices;
iii. alerts / information / status, etc., through SMS / e-mail, as and when there is any change in status of the card.
Here are a few important FAQs about the RuPay credit cards on UPI:
What is transaction limit that can be carried out from linked Credit card on UPI?
Amount limit per card per day – UPI limit (Rs 1 lakh per day and Rs 2 lakh for some special MCC codes), however it will be limited to the available credit limit on your card.
Will I be charged for linking or carrying out any transaction from linked Credit Card on UPI?
Customers will not be charged for linking or carrying out any transaction from the linked Credit Card on UPI.
What are the restricted merchant categories on which customer won’t be able to make payment using Credit Card on UPI?
Categories – P2P, P2PM, digital account opening, lending platform, cash withdrawal at merchant, cash withdrawal at ATM, ERUPI, IPO, Foreign Inward Remittances, Mutual Funds and any other categories as restricted by the issuing bank / RBI.
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