Delhi, India – 19.09.2024: BOBCARD LIMITED, a wholly owned subsidiary of Bank of Baroda, has announced the introduction of its EMI service on UPI Payments in partnership with RuPay. As one of the early adopters of this cutting-edge solution, the new feature allows RuPay BOBCARD holders to seamlessly convert their purchases into EMIs by scanning a QR code through the UPI app, providing a more convenient and hassle-free payment experience.
Through this facility, RuPay BOBCARD holders can now conveniently use UPI for payments at any UPI-accepting merchant, both online and offline, and convert their transactions into EMIs at the point of purchase. As the festive season approaches, this feature provides a timely solution for managing festive shopping with ease. Customers can apply for the EMI facility directly on their linked RuPay credit card through any UPI app, where the UPI PIN serves as user consent upon acceptance of the relevant terms and conditions. At checkout, users can select the EMI option at the time of payment, allowing them to choose their preferred EMI period during shopping, ensuring that high-value festive purchases are spread over manageable installments. The process is entirely digital, requiring no additional paperwork, making it a hassle-free experience.
Commenting on this development Mr. Ravindra Rai, Whole-Time Director, BOBCARD LIMITED said, “We are thrilled to introduce the EMI feature on UPI in partnership with RuPay, marking a significant step towards enhancing customer convenience. This feature empowers our customers with greater flexibility and control over their finances, aligning with our commitment to delivering innovative solutions that meet customer’s evolving needs.”
Furthermore, the UPI app allows users to track their ongoing EMIs, ensuring timely payments and full transparency—essential during the high-spending festive months. Customers can also convert past purchases made with their RuPay credit card into EMIs by accessing their transaction history on the UPI app. This initiative is designed to meet the growing demand for flexible payment options during the festive season and aims to drive the adoption of digital credit solutions across India, particularly in Tier 2 and Tier 3 cities.
BOBCARD remains at the forefront of innovation in the payments ecosystem, continually enhancing the customer experience with secure, user-friendly credit solutions that address the evolving financial needs of Indians. By integrating UPI payments with credit card EMIs into a single, seamless solution, the company strives to ensure that customers can celebrate the festive season without financial constraints.