UPI-linked Revolving Credit Instrument to be introduced by J&K Bank powered by Pine Labs
.
MUMBAI:
Pine Labs
and
J&K Bank
are introducing a tech-first
RuPay Credit Card
for the bank's customers. The RuPay Credit Card can also be linked to
UPI
for seamless
credit transactions
. This integration will also enable seamless processing of pre-sanctioned credit lines on UPI.
To enable Credit Cards on UPI, Pine Labs has built and integrated its own UPI Switch on this platform for smart routing of transactions through speedy networks, which is expected to bring down transaction failure rates. This switch can seamlessly adopt all UPI payment features including AutoPay, link-based payments, e-RUPI, QR, and credit card payments.
B Amrish Rau, CEO, Pine Labs, said, 'Today's launch is a shot in the arm for Revolver Credit use cases like credit cards.'
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