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How To Pay Credit Card Bill Using UPI?
Posted on Thursday, May 16th, 2024 | By IndusInd Bank
In today’s world of digital payments, the Unified Payments Interface (UPI) is easily proving to be one of the most convenient and secure ways to transfer funds instantly. Even credit card payments can now be seamlessly made using UPI. Read on to learn how and why to do this so that you always pay your credit card dues on time and maintain a good credit score.
Understanding UPI and its Benefits
Firstly, let’s grasp the fundamentals of UPI and the advantages it offers:
1. Instant Transfers: UPI enables real-time fund transfers between bank accounts instantly without any delays.
2. Convenience: UPI transactions are convenient as they only require a smartphone, a UPI mobile app, and an internet connection, eliminating the need for physical visits to banks or ATMs.
3. Security: UPI apps offer robust security, thereby ensuring the safety of financial transactions.
4. Interoperability: UPI is interoperable across various banks and payment service providers.
How to Use UPI to Pay our Credit Card Bills
Credit card bill payments are made very convenient with UPI. Follow the steps below to pay your credit card bill through any UPI app such as GPay, Paytm, PhonePe etc:
- Access the UPI app on your phone and find the ‘Recharge & Bill Payments’ section
- Here, you will see different payment options. Select ‘credit card payment’ from these
- Next, choose your credit card provider and enter the card’s details
- Enter the bill amount and click on ‘Proceed’
- Choose the bank account to use for the transaction in case of multiple accounts
- Finally, Enter the UPI PIN/OTP to verify the credit card payment and wait for a confirmation.
Also Read: Understanding Your Credit Card Billing Cycle And How It Works
Benefits of Paying Credit Card Bills using UPI
Paying your credit card bill using UPI offers several advantages:
1. UPI transactions are processed in real-time, allowing for quick settlement of credit card bills without delays.
2. Users can initiate credit card payments anytime, anywhere, using their smartphones, making it a convenient option for busy individuals.
3. UPI offers advanced security features to safeguard transactions and protect users’ financial information from unauthorised access or fraud.
4. UPI transactions are cost-effective compared to traditional payment methods such as cheque payments or bank transfers.
5. UPI is supported by a wide range of banks and payment service providers.
Conclusion
Thus, making a credit card bill payment using UPI is a convenient way to settle outstanding balances. This service, along with the several benefits of credit cards, like rewards, offers, simplicity, and security, makes it a wise decision to own a credit card. and enjoy a new world of financial possibilities.
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
