PhonePe becomes the First Payment App to Link Two Lakh RuPay Credit Cards to UPI.

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Bhubaneswar: PhonePe, today announced that it has achieved two significant milestones. The
company has become the first digital payments app to successfully enable linkage of two lakh
RuPay credit cards to the Unified Payments Interface. In addition, PhonePe has also processed a
Total Payment Value (TPV) of Rs.150 crore via RuPay Credit on UPI.
PhonePe aims to offer a comprehensive suite of solutions for RuPay Credit on UPI in
partnership with NPCI to popularize its usage among customers and merchants alike. The
company has already enabled the acceptance of RuPay Credit Cards on UPI across 12 million
merchant outlets in the country, achieving the highest merchant penetration in the ecosystem.
Overall widespread acceptance of UPI has ensured that customers have ample opportunities to
utilize their RuPay credit cards for transactions. On the consumer side, PhonePe is driving the
adoption through seamless and intuitive nudges on the PhonePe App. These contextual
communications are encouraging customers to adopt RuPay credit cards through UPI as their
preferred payment option. Moving forward, PhonePe will continue to collaborate closely with
NPCI to scale the RuPay Credit penetration in the country through enhanced functionalities.
Speaking on the milestone, Sonika Chandra, Vice President Consumer Platform and Payments at
PhonePe said, “We are thrilled to partner with the National Payments Corporation of India
(NPCI) and become the first payments app to link two lakh RuPay credit cards to UPI. We
believe that RuPay cards on UPI will revolutionize the access and use of credit in the ecosystem,
and we are committed to offering comprehensive solutions that cater to the evolving needs of
our customers and merchants. Similar to any other credit instrument, MDR is applicable for
RuPay on UPI and our merchant partners are enthusiastically adopting and driving the use of
RuPay among customers.”

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