SBI Card gains on enabling RuPay credit cards on UPI

SBI Cards and Payment Services is currently trading at Rs. 872.15, up by 1.05 points or 0.12% from its previous closing of Rs. 871.10 on the BSE.

The scrip opened at Rs. 874.95 and has touched a high and low of Rs. 876.90 and Rs. 859.80 respectively. So far 31065 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 1028.75 on 17-Aug-2022 and a 52 week low of Rs. 690.90 on 30-Jan-2023.

Last one week high and low of the scrip stood at Rs. 892.75 and Rs. 859.80 respectively. The current market cap of the company is Rs. 82399.94 crore.

The promoters holding in the company stood at 68.96%, while Institutions and Non-Institutions held 26.66% and 4.38% respectively.

SBI Cards and Payment Services (SBI Card) has enabled RuPay Credit Cards on UPI. Starting August 10, 2023, SBI Card customers will be able to make UPI transactions through their credit cards issued on RuPay. The functionality can be availed through registering the credit card with third party UPI apps. This will further enhance the avenues for customers using SBI Card on RuPay platform on UPI merchants, thus facilitating enhanced, convenient, and seamless payments experience.

Cardholders can enroll their active primary cards on UPI and make payments to merchants (P2M transactions) using their credit cards. This facility is free for customers. To ensure successful credit card linking with UPI, it is important to note that the cardholder’s mobile number registered with SBI Card should also be linked with UPI.

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