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.
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.”