Wallet-based UPI payments: Amex MRCC?

[angad101]

can you post the spreadsheet link from the comment please? Don't have a x account

Marriott Global Point Value Table - 8000 Properties!

select whatever country you're looking for using its international domain name

 

[AlgoTrader]

so what is charges now for loading mobikwik wallet through amex?

 

[neo.puneet]

so what is charges now for loading mobikwik wallet through amex?

2.5% + GST

 

[ARCHISMAN_DAS]

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/

Which wallet has amex support from them?

 

[SSV]

Which wallet has amex support from them?

He wants you to use " Rupay " cards, not amex cards...!!!

 

[InquisitiveWhiz]

can you post the spreadsheet link from the comment please? Don't have a x account

Hope this helps..
Cannot fully confirm the data provided though :

 

[imdjay]

can you post the spreadsheet link from the comment please? Don't have a x account

This is the link

 

[ARCHISMAN_DAS]

He wants you to use " Rupay " cards, not amex cards...!!!

Haha.. right.. it's my mistake... I apologise..

 

[SonyTom]

Hope this helps..
Cannot fully confirm the data provided though :

What is availability in above post?

 

[InquisitiveWhiz]

What is availability in above post?

I believe that's the availability of the hotel at that point/price/member rate. Feel free to correct me if I am wrong.

 

[SonyTom]

@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?

You get approx 29k points. How you value this is the most crucial thing. If you can extract a value of 50ps/MR points, then it’s profitable.

But suppose you are using it on the Gold collection and converting it to amazon gift card, the value of each MR point comes down to 31ps.

In such a situation, the returns come down to 3.86%. Plus you can get a 1% on paying CC bill with DC. So total return is 4.86%.

Mobikwik charges 2.95%. So net return is 4.86 minus 2.95= 1.91% on UPI spends, Not bad. But there are other CC which give better returns on UPI.

The maximum advantage is for mobikwik which gains a huge sum with the 2.95% surcharge.

Loading 1500x4 into mobikwik wallet is ok IMO. But loading the full 20k into it is more profitable for mobilwik than for us.

 

[ARCHISMAN_DAS]

T

You get approx 29k points. How you value this is the most crucial thing. If you can extract a value of 50ps/MR points, then it’s profitable.

But suppose you are using it on the Gold collection and converting it to amazon gift card, the value of each MR point comes down to 31ps.

In such a situation, the returns come down to 3.86%. Plus you can get a 1% on paying CC bill with DC. So total return is 4.86%.

Mobikwik charges 2.95%. So net return is 4.86 minus 2.95= 1.91% on UPI spends, Not bad. But there are other CC which give better returns on UPI.

The maximum advantage is for mobikwik which gains a huge sum with the 2.95% surcharge.

Loading 1500x4 into mobikwik wallet is ok IMO. But loading the full 20k into it is more profitable for mobilwik than for us.

That's true.... Mobikiwik is good for 6k per month transaction not for milestone...

 

[InquisitiveWhiz]

You get approx 29k points. How you value this is the most crucial thing. If you can extract a value of 50ps/MR points, then it’s profitable.

But suppose you are using it on the Gold collection and converting it to amazon gift card, the value of each MR point comes down to 31ps.

In such a situation, the returns come down to 3.86%. Plus you can get a 1% on paying CC bill with DC. So total return is 4.86%.

Mobikwik charges 2.95%. So net return is 4.86 minus 2.95= 1.91% on UPI spends, Not bad. But there are other CC which give better returns on UPI.

The maximum advantage is for mobikwik which gains a huge sum with the 2.95% surcharge.

Loading 1500x4 into mobikwik wallet is ok IMO. But loading the full 20k into it is more profitable for mobilwik than for us.

IMHO getting an Amex card for cashback or extracting value by converting to amazon GC is a wrong approach & utilisation of the card.

 

[ARCHISMAN_DAS]

IMHO getting an Amex card for cashback or extracting value by converting to amazon GC is a wrong approach & utilisation of the card.

I think it's a good approach but don't go for 20k milestone just complete the 6k transaction then only your reward rate will be good to be consider...

 

[angad101]

On credit card spends? 100% agree, not the smartest move. But considering the minimum 4% return (post fees) for UPI transactions to people, seems pretty sweet

 

[ARCHISMAN_DAS]

On credit card spends? 100% agree, not the smartest move. But considering the minimum 4% return (post fees) for UPI transactions to people, seems pretty sweet

How u can get 4% after fees on 20k via amex!?

 

[angad101]

How u can get 4% after fees on 20k via amex!?

2.4 L = 24k bonus + 4800 base = 28800 points.
1. Marriott redemption on a decent day with decent planning gives 1 MR = 1 value. That makes it 12%. ~9% once you deduct Mobikwik fees
2. Airline transfers will give you a net 15400 airline. Again with decent planning 1 airline point = 1rs, 3% post fees
3. Even if you get an amazon voucher for some reason, it'll be worth ~11k rs. That's 4.5%, ~1.55% post fees

None of this assumes the joining bonus, or bonuses for any referrals you might be able to give, or the frequent 15-20% bonus miles transfer offers Amex runs. +1% cashback for paying this CC bill using DC. For anyone travelling, seems like a good enough deal.

If there are other UPI cards that reward more, would really appreciate your help in knowing more about them!

 

[Pissant]

2.4 L = 24k bonus + 4800 base = 28800 points.
1. Marriott redemption on a decent day with decent planning gives 1 MR = 1 value. That makes it 12%. ~9% once you deduct Mobikwik fees
2. Airline transfers will give you a net 15400 points. Again with decent planning 1 MR = 1rs, 3% post fees
3. Even if you get an amazon voucher for some reason, it'll be worth ~11k rs. That's 4.5%, ~1.55% post fees

None of this assumes the joining bonus, or bonuses for any referrals you might be able to give, or the frequent 15-20% bonus miles transfer offers Amex runs. +1% cashback for paying this CC bill using DC. For anyone travelling, seems like a good enough deal.

If there are other UPI cards that reward more, would really appreciate your help in knowing more about them!

It is actually hard to get 1MR = 1

 

[sourpai]

2.4 L = 24k bonus + 4800 base = 28800 points.
1. Marriott redemption on a decent day with decent planning gives 1 MR = 1 value. That makes it 12%. ~9% once you deduct Mobikwik fees
2. Airline transfers will give you a net 15400 airline. Again with decent planning 1 airline point = 1rs, 3% post fees
3. Even if you get an amazon voucher for some reason, it'll be worth ~11k rs. That's 4.5%, ~1.55% post fees

None of this assumes the joining bonus, or bonuses for any referrals you might be able to give, or the frequent 15-20% bonus miles transfer offers Amex runs. +1% cashback for paying this CC bill using DC. For anyone travelling, seems like a good enough deal.

If there are other UPI cards that reward more, would really appreciate your help in knowing more about them!

Have you personally done any Marriott redemption at 1MR = 1Rs value till now? Also have you done any airline redemption at 1Rs value per point?

If you have done these redemptions historically and you are an expert in these areas then sure go ahead with these calculations. Otherwise all these are in the air.

 

[ARCHISMAN_DAS]

2.4 L = 24k bonus + 4800 base = 28800 points.
1. Marriott redemption on a decent day with decent planning gives 1 MR = 1 value. That makes it 12%. ~9% once you deduct Mobikwik fees
2. Airline transfers will give you a net 15400 airline. Again with decent planning 1 airline point = 1rs, 3% post fees
3. Even if you get an amazon voucher for some reason, it'll be worth ~11k rs. That's 4.5%, ~1.55% post fees

None of this assumes the joining bonus, or bonuses for any referrals you might be able to give, or the frequent 15-20% bonus miles transfer offers Amex runs. +1% cashback for paying this CC bill using DC. For anyone travelling, seems like a good enough deal.

If there are other UPI cards that reward more, would really appreciate your help in knowing more about them!

The reward ratio are not real for flight or marriot booking and if u want to go for Amazon then u can use hdfc tata neu infinity which will also fetch 1.5% cashback on upi spends...