Federal Bank launches UPI-enabled RuPay Wave Credit Card; details here

Federal Bank has joined hands with the National Payments Corporation of India (NPCI) to launch RuPay Wave Credit Card. The new card will help customers with the convenience of UPI-powered transactions on a robust RuPay network. It 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.
 
By leveraging the robust UPI infrastructure developed by NPCI, Federal Bank's cardholders can now link their RuPay Wave credit card to their preferred UPI applications, enabling swift and secure transactions with just a couple of clicks on their mobile devices. This is the simplest and easiest option for credit card users.

Federal Bank is providing:

•    Simple 2 click journey via the Fed Mobile application (Mobile Banking application).
•    No AMC or joining fees.
•    10% cashback on the first five UPI transactions made using the Wave Credit Card.
•    1,000 bonus reward points upon quarterly spends of Rs 50,000, as a milestone benefit.

"We are excited to introduce yet another innovative payment instrument, the Federal RuPay Wave Credit Card. This credit card brings the best of India’s most popular payment instrument, UPI, to our valued credit card holders.  A seamless digital application process, completed in seconds, ensures customers can start transacting immediately via the many UPI apps available in the market. We feel privileged to be able to contribute to the digital revolution in the country and thank NPCI for their valued support in this journey,” said Shalini Warrier, Executive Director at Federal Bank.

How to Apply

Existing Federal Bank credit card holders can apply for the Wave Credit Card through the FedMobile application. Customers can log in to their credit card account, apply for the Wave Credit Card, accept the terms and conditions, and verify their application with their MPIN. Those customers who do not own a Federal Credit Card can apply for a primary credit card and apply for a Wave credit card subsequently.

It is to be noted that last year, SBI Card and NPCI announced the linking of SBI credit cards on RuPay platform with UPI. Customers of SBI Card can use their credit cards issued by RuPay to conduct UPI transactions. By registering the credit card with third-party UPI apps, the facility can be used. The credit card must be registered with third-party UPI apps in order to use the capability.

PNB Rupay Platinum Debit card

Punjab National Bank (PNB) Rupay Platinum Debit card's lounge access program has been revised. The new rules will be effective from July 1. As per the National Payments Corporation of India (NPCI), the new Rupay airport lounge access program applies to the Rupay Platinum and Select Debit card holders. Domestic travelers with eligible cards can access two free visits to any lounge every quarter. International travelers are entitled to two visits per year at participating lounges.

The PNB notification reads, “Dear Customers, Kindly be informed that w.e.f 1s t July 2024, the lounge access program for all variants of Rupay Platinum Debit Card has been revised as under –

1 (One) Domestic Airport / Railway lounge access per quarter.

b. 2 (Two) International airport lounge access per annum.

The updated list of lounges is available at – https://www.rupay.co.in/lounges Warm Regards, Punjab National Bank.”