In this “HOW TO” article I simplify the process of paying your credit card outstanding amount through unprecedented UPI. UPI stands for Unified Payment Interface, a secure service administered by the NPCI, National Payment Corporation of India, which is a central Government organization function under RBI.
Flipkart's PhonePe has made possible paying credit card bill through UPI. As far as I know, only the PhonePe wallet has this feature at present. This article with the help of screenshots, which I had taken during a credit card bill payment on PhonePe assists in your first ever try with UPI for paying your credit card outstanding amount. Later I am going to explain – how to make instant credit card bill payment through NEFT.
To proceed with paying the Credit card outstanding amount through UPI, you must activate UPI debit for any of your bank accounts. If you haven't registered for UPI debit, then do it now. Install and register you on BHIM app, a mobile application by NPCI to make online transactions through UPI.
► UPI Activation for my bank account
The prerequisite to registering for UPI debit is – first you have to join your mobile number with your bank account. How to confirm whether my bank account has a registered mobile number or not? Simple! Are you getting SMS alert from your Bank for transactions happening in your bank account in real time? If yes then your mobile number has already been registered, if not then rush to your bank account branch to register now.
Once your mobile number has been registered/updated by the bank for your bank account, you can proceed to register or enable UPI transactions.
To enable UPI and to create your own VPA or virtual payment Address – follow the steps below.
- Download BHIM app from Playstore
- On your smartphone, activate BHIM with the mobile Number, registered with your bank accounts
- Create UPI account with a four-digit security PIN to secure Access
- Add your Bank account you want to use for credit and debit through UPI from the list of attached bank account with your mobile number.
- Use Debit card details for authentication and set you UPI PIN to protect UPI transactions.
The UPI PIN is like Debit Card PIN. It protects your account, and it protects UPI transactions in your bank account. Therefore, never share UPI PIN with anyone.
Your bank account is now ready to execute UPI-routed debit instructions. By default, all bank accounts can accept UPI credits. For enabling debit through UPI, UPI PIN has to be set first, so you have to follow the drill I said just now.
► Register with PhonePe for Credit Card Bill Payment
Install PhonePe from Playstore. Activate it with the same mobile number on your smartphone, registered with your bank account, which can process UPI debit instructions. Alternatively, activate it with the mobile number you just enabled or already has an activate BHIP app running.
Next step is to connect this PhonePe app to your UPI enabled bank account. Do that by the “Add bank account” option on the PhonePe. Use your existing UPI PIN to authorize your PhonePe account to link with your bank account through UPI's platform. You have now successfully setup a PhonePe account for transactions through UPI.
► How to make Credit Card Bill Payment through UPI on PhonePe
Step One: Scroll down, and you see the Credit Card payment icon in the “Recharge & Pay Bills” section.
Step Two: PhonePe has integrated “Visa Money Transfer for Visa Credit Cards.” Therefore, this hassle-free payment option is available only for Visa credit cards. Alternatively, the credit cards start with the digit “4.” Similarly, if the first digit is “5,” then it is a Master card.
As you can see in the image above, there are some saved cards. PhonePe synchronized my payment options from my Flipkart account. Nothing wrong with it as Flipkart owns PhonePe. If your credit is not appearing in saved cards, then click on the Visa icon as seen under “Others.” Use it to make a payment of any Visa Credit Card through UPI.
If your credit card is appearing in the saved cards, then click on the one for which you want to make bill payment now.
Step Three: The image below shows you are redirected to a new interface to punch credit card number on the selection of “Visa” in “Others.” Just one-time requirement this is. The entered details are saved with your PhonePe account. Next time you need to select the credit card from the “Saved Cards” option only.
Step Four: Fill the amount that you wish to pay and hit the “PAY BILL” at the bottom of your smartphone screen.
Step Five: Enter your UPI PIN to authenticate flowing of the fund from your bank account to your credit card account first through UPI and then Visa.
Step Six: You are done. You need to wait just a few seconds to allow completion of the transaction.
Step Seven: Almost Done!
Step Eight: Yup! You have successfully transferred the fund from your bank account to your credit card account through UPI.
Step Nine: You get an SMS as well as an email from PhonePe confirming the successful payment. Keep this as pieces of evidence until the amount reflects in your credit card account.
In case the money does not reach your credit card account, and the bank levied a penalty against the late payment, use the PhonePe mail, and SMS to prove – you had made a payment for the outstanding amount – on time.
Step Ten: The amount will be credited to your credit card account within one to two working days. So if your credit card due date is on 15th every month, ensure you complete the transfer of bill amount on 11th or max to max on 12th. Credit card bill payment through UPI on PhonePe is so easy and doable in few seconds. So why to take a risk and invite unwanted penalty and then wasting time in following up with customer support to waived off of the penalty amount.
► The Risk involve in Making Credit Card Bill Payment on PhonePe
As it happens in any online transaction, chances are there that the bill payment process on PhonePe may be stuck somewhere in the middle. Check the image below.
That was my first attempt to make a test Bill payment. The transaction was neither failed nor successful. I had to contact PhonePe support to look into the issue and provide me a resolution. Interaction with PhonePe's instant support ( revert within 24 hours ) was not helpful, and I faced difficulty in getting a refund for the debited amount, too. However, later I made numerous transactions towards bill payment – all successful.
If you are not happy with PhonePe customer support, contact them on Twitter with the transaction ID. You will get instant resolution.
► How to make instant Credit Card Bill Payment through NEFT
Paying Credit card outstanding though UPI is quite easy thanks to PhonePe. However, the amount will take at least 24 business hours to travel to your credit card account. Then what is the solution if one needs to make a payment of outstanding amounts of their credit card in next few hours considering today is the last date. The answer is NEFT. Through NEFT, you can clear unpaid balance of your credit card account in just three to four business hours Monday to Saturday only, however. On Sunday, RBI does not carry out NEFT settlements.
Register your credit card as a Payee/Beneficiary. For instance, you can register your credit card as Payee on ICICI Bank website by logging into your account. Or use iMobile for doing the same.
The details you need to Fill while adding your credit card as Payee are accordingly:-
- Beneficiary or Payee Name: The name engraved on your Credit Card
- Beneficiary Account Number: Your 16-Digit Credit Card Number
- Account Type: Saving ( I do not know whether Saving is the correct account type or not, but my amount gets credited to my credit card account.)
- IFSC Code: Check the official website: For SBI Credit Card → For HDFC Credit Card → For ICICI Bank Credit Card → For CITI Credit Card → For Standard Chartered Credit Card.
Hope you like this article. Moreover, it has cleared all your doubts regarding instant credit card bill payment through UPI and NEFT. If you have any query, drop a comment in the comment box below, we will get back to you with the right resolution.