*2% and 1% CASHBACK REWARDS: Valid on net purchases (less credits, returns and adjustments) of goods and services made with a Synchrony Premier Mastercard or Synchrony Plus Mastercard. And after the RBI’s decision to start linking RuPay credit cards to UPI, we immediately started enabling leading payment aggregators to boost merchant acceptance and customer awareness in a bid to attract early and widespread adoption," Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, NPCI, said.Subject to credit approval. "India is one of the select few nations that has been successful in premiering innovation through targeted regulations. With the addition of credit cards, RBI is expecting the transaction number to grow by 16 percent in the next four years. In January this year, around 8038.59 million transactions were made using UPI, which is about Rs 1,299,058.78 crore. The cited source says that over 250 million users and 5 crore merchants are using UPI for payments. This will give users more flexibility and choice when it comes to making payments, and is likely to drive the adoption of digital payments in the country. The latest move is also expected to boost digital payments in India, as credit card transactions are often associated with higher ticket sizes, and can be used for a wider range of transactions.
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