Kotak UPI RuPay Virtual Credit Card: Who can apply and how to get it instantly

Kotak Mahindra Bank has introduced the Kotak UPI RuPay Virtual Credit Card, a new transformational digital payment solution. It is designed to primarily streamline credit card usage in the county through the unified payments interface (UPI) system.

This crucial development aligns well with the Reserve Bank of India’s (RBI) ongoing push to boost and expand digital payment infrastructure and further improve the comfort and convenience of credit based transactions for Indian credit card users and consumers.

Key features and eligibility

The Kotak UPI RuPay Virtual Credit Card is simply a lifetime free offering. It is available exclusively in a virtual format. It has no physical cards issued. This allows users to link their credit cards directly with the UPI applications, thus enabling them to make instant payments without the need to carry a physical card with them.

Furthermore, the applicants must be existing Kotak credit card holders aged between 18 and 65 years. They should also be residents of India. Some important features of the card are discussed below:

• This is a virtual only card; no physical card issued.
• No joining or annual fees for life.
• Earn 3 reward points per ₹100 spent on eligible transactions.
• Rewards accrue on both UPI and standard credit card spends.
• Minimum 1,000 reward points required for redemption.

Note: The features discussed above are illustrative in nature. For the updated terms, features and conditions refer to the official website of the Kotak Mahindra Bank.

Step-by-step application process

To apply for the Kotak UPI RuPay Virtual Credit Card, users should follow the given steps:

1. Visit the official Kotak Mahindra Bank website and then log in to the net banking portal or mobile banking application.
2. Navigate to the ‘credit cards’ section and select the option to apply for the UPI RuPay Virtual Credit Card.
3. Complete the application form, while ensuring all eligibility criteria are met.
4. Upon approval, the virtual card details will be generated instantly and made available within the application or net banking portal.
5. Link the new RuPay credit card to your preferred UPI application. This can be done by following the in-app instructions, and setting up a UPI PIN to enable transactions.

Regulatory and market context

RBI’s payments vision 2025 encourages users to link credit cards to UPI to boost digital transactions and safety. The National Payments Corporation of India (NPCI) has also announced improvements to boost UPI transaction efficiency and response time.

This will further enhance the user experience from June 2025. Furthermore, RuPay credit cardholders will continue to benefit from revised airport lounge access policies.

Hence, this move is anticipated to accelerate the adoption of credit based digital payments in the country. It will provide consumers with more flexibility, comfort and rewards while supporting the RBI’s objective of boosting digital payment penetration across the country.

Therefore, as the digital payments landscape evolves such an initiative is poised to play a very important role in shaping the future of financial transactions in India.

On the part of users of these credit instruments such as high end premium credit cards, personal loans etc., it is important for customers to be well informed, completely aware and properly trained in the management of finances to make the most of these developments.

Disclaimer: Mint has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit scores. Mint does not promote or encourage taking credit, as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.