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Which is India's first fintech application to support credit cards on UPI?
A)
Paytm
B)
MobiKwik
C)
PhonePe
D)
BharatPe

Correct Answer :   MobiKwik


MobiKwik, India’s leading fintech, has become the first fintech apps to support RuPay Credit Cards on UPI.

* The development brings a new level of convenience to the millions of Indians who use UPI for their daily transactions.

* Nearly 50 million users possessing one or more credit cards, this is a significant milestone in India’s drive towards a cashless economy.

Chandan Joshi, Co-founder & CEO, Consumer Payments, MobiKwik, said the company wants to make financial services accessible to all Indians and lead the way to financial inclusion.

* RuPay Credit Cards now linked directly to UPI IDs, MobiKwik’s customers can easily make payments to merchants by scanning the UPI QR code and using UPI PIN for payment authentication.

* The feature not only provides a smooth and secure payment experience for MobiKwik’s customers but also opens up new opportunities for Indian merchants to be part of the credit ecosystem with the acceptance of credit cards using asset-lite QR codes without the need for point-of-sale terminals.

* Transaction limit : The new feature will follow the existing UPI standard transaction limits.

* Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, said : “The integration will bring a seamless, digitally enabled credit card experience, providing increased ease and opportunity to use their credit cards.”...

Source : The Hindu Businessline

Published On : February 9, 2023
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