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Wallet-based UPI payments: Amex MRCC?
- Thread starter angad101
- Start date
- Replies 64
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ARCHISMAN_DAS
TF Premier
Payzapp would be a great option also...
angad101
TF Buzz
@ARCHISMAN_DAS does payzapp allow transferring money to other people/vendors via UPI?
@ccdc spend 2.4 lakhs a year (1.5k * 4 and add 14k normally, x12) and get ~29k points in return. Even at a conservative 1 MR = 0.5rs rate, that's 14.5k, so 6% returns. Take away 3% from this, that's still 3%? Marriott can give 6% post fee. Am I missing something?
@ccdc spend 2.4 lakhs a year (1.5k * 4 and add 14k normally, x12) and get ~29k points in return. Even at a conservative 1 MR = 0.5rs rate, that's 14.5k, so 6% returns. Take away 3% from this, that's still 3%? Marriott can give 6% post fee. Am I missing something?
at that point just take Axis Atlas
angad101
TF Buzz
Already have one. Axis has discontinued rewards for wallet loads. 💔
why do you want to load wallet?
No payzapp doesn't allow UPI transactions from the wallet
Live Wallet UPI apps -
| Sr. No. | PPI Issuer | App Name | Handle Name | Links URL |
|---|---|---|---|---|
| 1 | ICICI Bank Limited | Pockets | @pockets | ICICI Bank Contact Us - Customer Care, Queries & Feedback - ICICI Bank |
| 2 | IDFC FIRST Bank Limited | First ₹UPI | @idfcpay | https://www.idfcfirstbank.com/customer-care |
| 3 | Amazon Pay (India) Private Limited | Amazon | @amazonpay | https://www.amazon.in/hz/contact-us/?tag=ppvzone-21 |
| 4 | Spice Money Limited | BHIM SpicePay | @spicepay | https://www.spicemoney.com/customer-grievance |
| 5 | Eroute Technologies Private Limited | OmniCard | @omni | https://www.eroute.in/contact |
| 6 | Transerv Limited | Dhani | @dhani | Customer Care Policy | dhanipay.in |
| 7 | Bajaj Finance Limited | Bajaj Finserv | @bpaywallet | Reach Us - For Customer Care, Queries, Feedback - Bajaj Finserv |
| 8 | Transcorp International Limited | Cheq | @trans | https://transcorpint.com/contact-us/ |
| 9 | Tri O Tech Solutions Private Ltd. | Fampay | @fam | https://www.famapp.in/ |
| 10 | Pine Labs Private Ltd. | Fave | @pinelabs | https://www.pinelabs.com/contact-support |
| 11 | One Mobikwik Systems Private Limited | Mobikwik | @mbk | https://www.mobikwik.com/contact |
| 12 | Pay Point India Network Private Limited | Digikhata | @digikhata | https://paypointindia.com/about-us.aspx |
| 13 | Appnit Technologies Private Limited | Oxymoney | @oxymoney | https://website.oxymoney.com/about-us/ |
| 14 | Garagepreneur Internet Private ltd | Slice | @slice | https://www.sliceit.com/about-us/ |
| 15 | Livquik Technology Pvt. Ltd. | QuikWallet | @liv | https://quikwallet.com/quikwallet/ |
| 16 | Unimoni Financial Services Limited | Unimoni India | @paymoni | http://www.unimoni.in/ |
| 17 | Rapipay Fintech Private Limited | NYE | @nye | https://in.rapipay.com/ |
| 18 | PayU Payments Private Limited | Citrus Wallet | @Payu | https://consumer.citruspay.com/ |
angad101
TF Buzz
To use for UPI transactions! Mobikwik/Amazon allow wallet reloads through CC, and using these funds for UPI transactions. Amazon doesn't accept amex loads though.
So in theory, this method can fetch between 3-6% returns on UPI spends. Checking if the theory is right, if people here have used it, and if there are better card-app combinations
yeah but pretty much every card nowadays is useless for reloading wallet except for Eterna and a few other and even Eterna gets blocked if they notice you doing too many wallet loads. It is better to use HDFC Millenia DC for wallet loads
but he is talking about AMEX CC, if there is a 3-6% return, question is why not do it?
Yes I had done it for more than 3L using my plat travel card and got the benefits
It is the best use case scenario and paid all my rents like this and finished my 4L milestone in under 6 months
About 8 months ago,
I loaded MK with Amex cards with:
3% charges,
1% MK CB
1% CB for CC payment using my HDFC Plat DC
Net cost 1%.
Gain from Amex 7%
Net return 6% .. done and dusted plat travel milestone for that year in 5 months
Enjoy..
Need to think about how I do this for the next year in about 3 months time
Note: All numbers are approximate
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InquisitiveWhiz
TF Select
I have been doing this for past year using MRCC. Loaded 14k in Mobikwik @ 2.65% , 3 X 2000 APV. Used Mobikwik pocket for UPI and remaining amount was transferred back to bank. Earned around 30K MR points. Paid CC bill using HDFC platinum DC for 1% cashback. Still better than any UPI card. For me 1 MR >= 1 Rs 😆
okay, so in short, we can load MK using CC and pay via UPI to anyone? or just businesses?
how do you get more than 1re value from 1 MR? can you explain pls?
InquisitiveWhiz
TF Select
To anyone with UPI id.
Anyone,
you can pay to any tom dick harry..
In my case , these were my landlords having personal UPI id s..
Last edited:
InquisitiveWhiz
TF Select
Redeem it using MB points & then plan your travels accordingly. Recently found the below on X for India : MB points Redemption
can you post the spreadsheet link from the comment please? Don't have a x account
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