IDFC FIRST Bank Revolutionizes Transactions with Digital RuPay Credit Cards

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Mumbai, 7th December 2023: IDFC FIRST Bank Elevates Transactional Experience with the Launch of Digital RuPay Credit Card Powered for UPI.

In a bid to enhance customer convenience and reshape transactional experiences, IDFC FIRST Bank introduces its digital RuPay Credit Card, seamlessly integrating UPI capabilities. This innovative addition builds upon the existing suite of IDFC FIRST Bank Credit Cards, merging the advantages of UPI transactions with core credit card features, heralding a transformative era in payments.

This announcement follows the successful launch of the FIRST Power and FIRST Power+ Credit Cards earlier this year in collaboration with HPCL on the RuPay network. The digital onboarding process, available on the IDFC First Bank website and select HPCL pumps, enables customers to apply from anywhere and start using the card instantly.

Formal approval from the Reserve Bank of India (RBI) to link RuPay credit cards to UPI ensures a seamless credit card-based payment experience, extending the ease of UPI transactions nationwide.

Key Features of IDFC FIRST Digital RuPay Credit Card, powered for UPI:

  • Card Type: Digital Card
  • Credit Limit: Shared with existing IDFC FIRST Credit Card
  • Transaction Integration: Transactions automatically reflect in the existing credit card statement
  • Statement and Payment Dates: Remain unchanged
  • Fees: ₹199 (Joining/Annual Fee)
  • Rewards Program: Earn rewards on UPI transactions, including 3X points on transactions above INR 2,000 and 1X points on transactions below INR 2,000
  • Welcome Offer: 100% cashback up to INR 200 on the first 4 UPI transactions within 15 days from the card issuance date

Additionally, the digital RuPay Credit Card facilitates easy payments through popular UPI apps like BHIM, PhonePe, Paytm, Google Pay, Slice, MobiKwik, CRED, offering versatility and user-friendly payment solutions.

Shirish Bhandari, Head of Credit Cards at IDFC FIRST Bank, expresses, “This inaugural digital card from IDFC FIRST Bank serves as a transformative tool, offering a seamless and secure transaction experience across existing UPI networks. The integration of UPI with credit cards enhances flexibility and underscores our commitment to continuous innovation, empowering customers throughout their financial journey.”

Praveena Rai, Chief Operating Officer, NPCI, states, “Collaborating with IDFC FIRST Bank, the launch of the digital credit card on RuPay’s extensive network promises cardholders an exceptional payment experience through UPI, complete with a wide range of rewards and benefits.”

This virtual Credit Card signifies a pivotal shift in the UPI landscape, making the association of UPI with Credit Cards more prominent, convenient, and rewarding.