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UPI credit card earning more than 500rewards
- Thread starter humptydumpty
- Start date
- Replies 38
- Views 5K
Currently we r getting
Not sure about future
However for regalia no cap
That 500 for tata rupay cards only
500 capping is on all rupay card spends in UPI.
Please check point 18.
Currently the capping is not implemented yet.
Got it
In that case regalia rupay conversion I have to hold for now
satviksehgal
TF Premier
won't be surprised if 3 months later HDFC Claws back all those extra points with a surprise sms saying us all F**k off.
humptydumpty
TF Select
nah its still best most small shops dont take cc's it works well for those transactions also u could get 1% cashback on full payment and moreover good maintenance of balance in account
Just wanted to make use of this upi to get a LE in regalia which stands same for years
Not using it at all since Amex and magnus rules my spends
SiddharthR
TF Legend
Those small shops will come under P2PM Category & hence can't accept UPI.
Merchant should be P2M to accept CCUPI (means his inflow should be ₹50k+/month)
humptydumpty
TF Select
I donno mucj about p2m and stuff even smallest stall hell even in small vegitable market they have p2m i guess ? Because. Im paying for those too never had a problem on mobikwik CC ,attached a pic u can see even a vegetable vender in small market who sits on ground and sell(not judgemental sry i donno what to call them ) getting accepted with my cc payment
Attachments
pradeepG
TF Premier
i dnt think there is such boundations. i myself had setup/processed account(being from IT know manythings) of a vegetable vendor that comes to my house/area daily, did 1st transaction that very moment, Boom, done. without any such turnover/inflow requirement.
RuPay CC sirf UPI k liye nahi hai bhai. Card ka bhi use karne k liye hai.
Apply and use RuPay credit card to support our domestic payment network.
SiddharthR
TF Legend
It is possible that he has 50K+ inflow of payments per month, and hence u did not face any problem.
@Abhishek012 has better idea of it...
pradeepG
TF Premier
mine was the first ever payment in his account, it was 0k before that payment. how can it be 50k+ inflow at that point?
On Paper it is 50k. Practically from
Rs.1 Payment, it is counted under P2M.
Paytm has started classifying Payments in P2M and P2PM.
For Paytm Merchants, who have Business Account and enabled Instant Settlement I.e, Payment made by you via UPI on such Merchant QR will directly hit Merchant's Bank Account and such Paymensts will go in P2PM category. Therefore txns via Bank Account will get successful but txns via Rupay Credit Card will get Declined .
For Paytm Merchants who have Business Account but Payments are settled either in batches or next day, Payment made by you via UPI on such Merchant QR will directly hit Paytm Business Account and then Paytm Transfers it to Merchant's Bank Account either in Batches or next day as opted by the respective Merchant and such Payments will go in P2M Category.
If your not able to pay to any paytm merchant via RUPAY CC UPI who have a business Account then ask him to disable Instant settlement and enable automatic settlement.
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SiddharthR
TF Legend
Ok, I did not read your first post properly & misinterpreted.
So the thing may be that Paytm did not classify that merchant account as P2PM (may bcoz their tech isn't up to date).
I just said what's on paper & previous discussions on this forum.
pradeepG
TF Premier
almost 90% merchants i pay are small vendors(other 10% are medium scale vendors), very very low chances of having 50k+ inflow/turnover, all of them get instant settlement in their bank accounts. to all i am paying for more than 3 yrs (not new account). I pay via RUPAY CC UPI.
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I am talking About specifically Paytm Merchants only who have a Paytm Business Account.
If RUPAY CC txns are going through on Paytm QR codes then , Merchant must has opted for Automatic settlement.
I tried and tested it myself.
RUPAY CC UPI txns will never directly hit Merchant's Savings Account in Case of Paytm Merchants
But yes Merchant itself can click Settle Now on his Business App any time or instantly , after Receiving the Payment to get settlement in his linked Account, instantly.
You can also verify entry in Savings Account of such Merchants
For Rupay CC UPI txns , Merchant's Bank Account statement will never show your Name or UPI ID in Txn Narration like in the case of Direct Bank to Bank UPI Transfer.
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