• The card is being offered by Union Bank of India in association with National Payments Corporation of India (NPCI). 
  
• It provides a simplified payment mechanism to MSMEs to meet their business-related operational expenses.
  
• The RuPay Card offers benefits like anytime digital payments, interest-free period and will carry interest rate similar to the rate charged for loans.
• MSME borrowers will be able to enjoy an interest-free credit period of up to 50 days on their business spends.
• The card also offers the EMI facility to the customers on their business-related purchases.
• MSMEs will also get specially curated efficient business services on this card which will help them in taking their business on most of the digital platforms.
• The RuPay Card offers benefits like anytime digital payments, interest-free period and will carry interest rate similar to the rate charged for loans. 
• Other benefits include accidental insurance coverage, lounge access, and other rewards being offered by NPCI on RuPay cards.
• Besides this, the card offers variety of additional features and business services for the MSMEs

Significance

• The RuPay Credit card will simplify and expedite payment mechanism for MSMEs while enabling banks to monitor the transactions at granular level. 
  
• The Credit card will also reduce the demand for cash withdrawal by the businesses due to availability of the digital payment tool.