Federal Bank, in collaboration with National Payments Corporation of India (NPCI), has launched RuPay Wave Credit Card that empowers customers with the convenience of UPI-powered transactions on robust RuPay network, according to the bank press release.
This offering will seamlessly integrate the benefits and features of RuPay credit cards with the experience of UPI payments, ushering in a new era of simplicity and efficiency in digital transactions, the bank said.
SBI Card enables RuPay credit cards on UPI: Here is how to link
According to the Federal Bank website, “With its own set of benefits and promotions, it makes UPI payments even more rewarding. Federal Bank RuPay Wave Credit Card enhances your transaction experience with convenience and rewarding opportunities. With this card, you can enjoy cashback and unparalleled rewards on your purchases.”
Federal Bank is providing the following benefits to customers:
Simple 2 click journey via the FedMobile application (Mobile Banking application).
No AMC or joining fees.
10% cashback on the first five UPI transactions made using the Wave Credit Card.
1000 bonus reward points upon quarterly spends of Rs 50,000, as a milestone benefit.
Rupay wave credit card: How to apply?
Existing Federal Bank credit cardholders can apply for the Wave Credit Card via the FedMobile app. Customers may access their credit card account, apply for the Wave Credit Card, accept the terms and conditions, and validate their application using their MPIN. Customers who do not already have a Federal Credit Card may apply for a main credit card and then apply for a Wave credit card.
How to link Wave to UPI apps?
To link Rupay Wave to other UPI apps, open preferred UPI apps and click on “add RuPay Card” feature.
Enter the required details of RuPay Wave. Verify the details using OTP.
In just 2 steps, utilize the feature of UPI on Credit Card through RuPay Wave.
How it works
Federal Bank cardholders can now link their RuPay Wave credit card to their chosen UPI applications using the sophisticated UPI infrastructure established by NPCI, allowing for quick and safe transactions with just a few clicks on their mobile devices. This is the most easy and straightforward choice for credit card users.
Cashback Rewards*
Unlock 10% cashback on your first five UPI transactions with the card. This means you will get a portion of your spending back, making your purchases even more rewarding.
Reward Points
For every Rs. 200 you spend, you will earn 1 reward point. These points can be accumulated and redeemed for exciting benefits, effectively giving you more value for your money.
UPI Convenience Redefined
Federal RuPay Wave Credit Card simplifies your transactions through UPI. With just a quick scan of a QR code, you can make seamless payments.
Milestone Benefit
Achieve quarterly spending milestones and be rewarded with bonus reward points. When you spend Rs.50,000 in a quarter, you will receive 1000 bonus reward points, boosting your points balance significantly.
What is the total limit available for the RuPay Wave Credit Card?
The credit limit on the RuPay Wave Credit Card is shared with your primary card. For example, if you have a Visa Signet/Imperio/Celesta card with a limit of “X,” your RuPay Wave Credit Card will also have the same “X” limit. This shared limit simplifies your financial management.
How to make a payment to a retail offline merchant using my Federal Bank RuPay Wave Credit Card on UPI?
Adding your Federal Bank RuPay Wave Credit Card to a UPI app empowers you to make seamless payments. Simply open your UPI app, click on ‘Scan,’ and use the QR scanner to initiate the payment process. Enter the amount, select your Federal Bank RuPay Wave Credit Card, and confirm the payment with your UPI PIN. You’ll receive a payment confirmation once the transaction is completed.
How to make a payment to an e-commerce merchant using my Federal Bank RuPay Credit Card on UPI?
For e-commerce transactions, you can utilize either an Intent request or a collect request from the merchant. Select the UPI app as your payment mode on the merchant website or app, log in to your UPI app, choose your Federal Bank RuPay Wave Credit Card, and confirm the payment with your UPI PIN. Once the payment is completed, you’ll be redirected to the merchant page with a payment confirmation.
