The collaboration between SBI cards and NPCI allows SBI credit cardholders to make UPI transactions using their SBI credit card on the RuPay platform. To connect their SBI RuPay credit card to the UPI platform, users need to download a UPI-enabled app, create a UPI profile, link their SBI account, input credit card details, go through a verification process, and activate the card using an OTP. Once activated, users can make payments and conduct transactions through the UPI platform.