Short Description of Product
UPI Pay by Points lets you use your credit card reward points, loyalty points, or cashback points directly for UPI payments instead of going through complicated redemption processes.
What is the product solving
Most people accumulate lots of reward points but find it difficult to redeem them. The redemption processes are often complicated, have restrictions, or require minimum point thresholds. This feature makes your points as easy to use as cash.
Transaction Limits
Transaction limits depend on point values and individual reward programs as set by issuing banks.
Transaction Process Flow
- User initiates a merchant payment on UPI using a linked RuPay Credit Card
- UPI App provides option to "Check Reward Points"
- Based on bank/issuer details, available reward points are fetched and displayed
- User selects "Use Reward Points" option
- Transaction is processed with split fields: Purchase (actual debit amount), Points (reward points redeemed), Cashback (any reward/cashback adjustment)
- Merchant receives full settlement as per UPI process; issuer debits reward points and/or linked credit account
