Any working cc to bank method at minimal charges ?

[Vasuki]

@DocFixIt final charges shouldn't be this low. There is a reason why many merchants accept CC but don't accept upi on cc.

Rupay credit card payments through UPI hits the MDR speedbreaker

A large number of small and large merchants have requested their banks to disable payments via Rupay credit cards on UPI as they are often forced to pay higher MDR than on other credit card transactions.

www.moneycontrol.com

Nothing as such in bharatpay
As money is in wallet to bank .for merchant
Or maybe I m not getting your point 😃

 

[sidp]

Nothing as such in bharatpay
As money is in wallet to bank .for merchant
Or maybe I m not getting your point 😃

You mean adding money to you wallet then sending to merchant?

Or directly using rupay cc on merchant qr?

Ppi transfer>2k is ~1.2%. But I don't know about how only 1.25% mdr for cc. Even some govt sites don't accept upi on cc.

Either it is low specifically for bharatpay or some charges yet to be settled.

I have read in Multiple sources that mdr on upi by cc is more than cc swipe. Which also makes sense as more intermediary are coming into picture. May be @Abhishek012 Can clarify.

 

[neo.puneet]

Charges and settlement time

different tiers, different charges and time starting from 1.18%

 

[Vasuki]

You mean adding money to you wallet then sending to merchant?

Or directly using rupay cc on merchant qr?

As customer there is no charges
Scan & pay to merchant
Money is stored in quasi wallet / bhartpe
You can transfer once to bank a day
For new merchant it get credited next day

 

[Saipsy]

Rotate karo income tax notice aane tak.

 

[sidp]

As customer there is no charges
Scan & pay to merchant
Money is stored in quasi wallet / bhartpe
You can transfer once to bank a day
For new merchant it get credited next day

I know there is no charge for customers. But I thought cost to merchant was much higher.

 

[MJN]

different tiers, different charges and time starting from 1.18%

In month end you will get 0.9%+gst

 

[sidp]

In month end you will get 0.9%+gst

You mean extra? After the initial 1.25%

 

[Vasuki]

I know there is no charge for customers. But I thought cost to merchant was much higher.

No no no just that

 

[neo.puneet]

In month end you will get 0.9%+gst

yes, i got it in march end.

You mean extra? After the initial 1.25%

no, total. basically 10% discount

 

[Anil_Singh]

Any specific requirement for rupay cards to work on this? I have enabled this but still cannot accept rupay cc payments.

 

[Vasuki]

Any specific requirement for rupay cards to work on this? I have enabled this but still cannot accept rupay cc payments.

No requirement
Try on & off .it should work

 

[Anil_Singh]

No requirement
Try on & off .it should work

Payment declined due to security reasons. I am trying to scan and pay my bharatpe qr on phonepe. UPI works but not rupay on upi.

 

[Vasuki]

Payment declined due to security reasons. I am trying to scan and pay my bharatpe qr on phonepe. UPI works but not rupay on upi.

If u made today .
Try after days

 

[Aditya12]

Buy something from the Decathlon, return it the next day. They'll transfer the money to your account in a few days.
Confirm with them if the process is still the same.

I'm not into rotation but I genuinely had to return something that I had bought using CC (small amount, around 1k). They gave an option of cash return or account transfer, I chose cash. If it was a large amount, they said they could only have transferred to my back account which takes a few days.
Of course I would not suggest you do it regularly.

 

[Anil_Singh]

If u made today .
Try after days

Linking bharatpe with savings account works for rupay cc upi?

 

[Vasuki]

Linking bharatpe with savings account works for rupay cc upi?

Yes .that's how it gonna go in your bank right

 

[Anil_Singh]

Yes .that's how it gonna go in your bank right

I thought only current account is allowed to get money from rupay cc via upi.

 

[Vasuki]

I thought only current account is allowed to get money from rupay cc via upi.

No no no

 

[Anil_Singh]

No no no

Lagta hai ab inka game bajana padega. I am a freelancer (web design & development), local money lender and have income from rental properties. I selected IT Services/Individual while registering in bharatpe keeping freelance business in mind. Also, my bharatpe account is about 12 months old. Have enabled rupay cc option when it was introduced. Still no luck.

Paytm also doesn't work. So, I thought maybe current account is needed.