Visa and Mastercard credit card holders directly cannot use UPI payments by linking their credit cards. But by using a virtual RuPay credit card whose credit limit would be shared with the existing Visa or Mastercard credit card, an individual can make UPI payments using credit card. Presently only some banks like Kotak Mahindra Bank, HDFC Bank, Yes Bank, and others offer an virtual RuPay credit card.
The Reserve Bank of India (RBI) has tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans