India, March 1 -- National Payments Corporation of India (NPCI) MD and CEO Dilip Asbe has reportedly said that almost 16% of all credit card spending in India takes place on the RuPay network, with nearly half of these transactions made via credit on the Unified Payments Interface (UPI).

According to an ET report, speaking at the Mumbai Tech Week, Asbe said that over 30 banks now issue RuPay credit cards.

According to data from the Ministry of Finance, RuPay credit cards on UPI recorded over 750 Mn transactions worth INR 63,825.8 Cr in the ongoing fiscal year until October 2024, up from 362.8 Mn transactions valued at INR 33,439.2 Cr in the previous year.

While RuPay is seeing increased adoption, mainly due to UPI-enabled credit cards,...