So I got a Tata Neu Infinity card and was all set to make every single one of my UPI payments through credit cards and reap that sweet cashback of 1.5%! However to my utter frustration, I found that on most occasions (3 out of 4) I don't even get the option to pay through the Credit Card after scanning the QR code. It just shows me the list of my bank accounts! So I end up doing a P2P transaction out of my bank account (if they don't accept cards). Of course, I attempt a UPI transaction only if they don't accept cards.
Note that this is not because there is anything wrong with UPI or RuPay.
The reason is that most merchants (most big ones and ALL small ones) set up their own personal accounts to be scanned for their business and not their merchant/business accounts. In the end you are just transferring them money. I did a calculation going through my bank accounts and the CC statement and found that in the 3 months I had the Tata Neu card my returns on UPI payments has been a pathetic 0.36%. Only around 1 out of 4 UPI transactions was I able to pay via RuPay credit card. I am going to close the card at renewal if they don't make it LTF. No way I am going to recoup the Rs.1770 annual fees.
At the end of it, no benefit at all. The entire "pay with credit card on UPI" thing is utterly useless.
The worse thing is nobody is even talking about this! Everyone pretends that they make all UPI payments via credit card and keep singing songs about it!
(Note: Didn't post this in the RuPay Cards forum because people will think this is happening because something is wrong with RuPay. Mods, please feel free to relocate the thread if I am wrong).
Note that this is not because there is anything wrong with UPI or RuPay.
The reason is that most merchants (most big ones and ALL small ones) set up their own personal accounts to be scanned for their business and not their merchant/business accounts. In the end you are just transferring them money. I did a calculation going through my bank accounts and the CC statement and found that in the 3 months I had the Tata Neu card my returns on UPI payments has been a pathetic 0.36%. Only around 1 out of 4 UPI transactions was I able to pay via RuPay credit card. I am going to close the card at renewal if they don't make it LTF. No way I am going to recoup the Rs.1770 annual fees.
At the end of it, no benefit at all. The entire "pay with credit card on UPI" thing is utterly useless.
The worse thing is nobody is even talking about this! Everyone pretends that they make all UPI payments via credit card and keep singing songs about it!
(Note: Didn't post this in the RuPay Cards forum because people will think this is happening because something is wrong with RuPay. Mods, please feel free to relocate the thread if I am wrong).
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