UPI CC Transaction Limits and Controls

[BharathVanguri]

Hey Technofino Members,

I've come across something concerning regarding the transaction controls on Rupay credit cards.

Following Axis CC data leak and many reported unauthorised transactions few days back, I decided to disable all kinds of transactions on all my credit cards by setting up transaction controls. Cards includes rupay credit cards from HDFC and ICICI as well.

But here's the kicker. Even after doing that, UPI transactions sailed through smoothly, no limits, no restrictions.

It got me puzzled. Isn't this a bit of a security loophole? Shouldn't we have control over all types of transactions, as per RBI guidelines? And could it be that with the new Rupay cards, the banking systems and RBI missed this?

If you've got credit cards from other banks, I request you to check if you can manage Rupay transactions and set limits?

Thanks!

 

[_amit_]

Has this been reported by many.

Is there any option that can toggle (enable/disable) UPI transaction separately?

This is concerning , but my guess would be as the platform is build for card usage, maybe they did not account this for UPI usage and might need to work on it.

 

[bigbyte]

SBI has separate option to enable/disable UPI transactions on credit card.

 

[BharathVanguri]

Has this been reported by many.

Is there any option that can toggle (enable/disable) UPI transaction separately?

This is concerning , but my guess would be as the platform is build for card usage, maybe they did not account this for UPI usage and might need to work on it.

I don't think so. Haven't seen any such option in HDFC app or ICICI app.

It's difficult to hack upi profile. But that's not impossible as well.

Banks really need to work on this asap

 

[_amit_]

Best to quote those banks on twitter along with RBI and ask about it for better reach and also quick resolution.

 

[BharathVanguri]

SBI has separate option to enable/disable UPI transactions on credit card.

That's good to hear. But wonder why other banks simply ignored this

 

[shivkumar]

SBI has separate option to enable/disable UPI transactions on credit card.

Is it only enable / disable upi option .. do they also have option to set maximum limit..

 

[bigbyte]

Is it only enable / disable upi option .. do they also have option to set maximum limit..

Yaar tomorrow people will ask for MCC wise limit setting control.