Complete Debit card control

Suggested by @siba @dhanvi @Indrajit_Palit

on this thread

  • Card Blocking / Unblocking
  • Enable/Disable Transactions
  • Define limits for Transactions

Add more types of controls, if any anything is missing?

7 Likes

I typically see controls around these type of categories and subcategories

  1. National
  2. International

then sub categorized into

  1. ATM
  2. POS terminals
  3. Online
2 Likes

woudl love to see on the fly creation and sharing of virtual cards using a single tap on mobile app ( like amount, recipient’s mobile number with whom i can share, expiry (default/explicit) and no of times it can be used (one / more)… OTP should go a recipient… the primary card holder may just get the notification of txn…

2 Likes

Let’s get 20 likes and we will pick this up next in our product roadmap here

3 Likes

What about my standing instruction and visibility of nach? Where will those be visible?

As most eNACH transactions as of now are based on internet banking madates, this won’t be visible specifically under the debit card control section. But if you are talking about Debit card recurring transactions, and would want to control them also within this section, that sounds interesting!

Anyone else who would want to check their recuuring txn status initiated through Debit card, in the debit card control section?

1 Like

I would like to see my debit card recurring transactions somewhere in the app, I don’t mind having it in the debit card control or some other place.

2 Likes

How about a UPI ID for the debit card? E.g. Card No xxxx@jupiter

  1. To achieve touch-less transactions where authentication happens through UPI PIN on your mobile phone.
  2. The transaction underneath happens through the debit card which earns you reward points on your card. Usually, a UPI transaction happens through the underlying bank account so you don’t earn points for the transaction.
  3. UPI does not have any transaction charges. Unlike MDR charges for Debit/ Credit card. So even merchants would be happy.

Hey, @rupeshmandal this sounds like a cool idea!

But I am not sure if we could connect both the technologies UPI and debit card.

PS: I know some pos machines which support showing a QR code on the display screen which you can scan via your phone to pay. (In this case, the debit card becomes redundant)

Reward points are given to the users from the money earned via MDR charges, I don’t think it would be a sustained business model to not to charge MDR and still give reward points.

1 Like

My ICICI credit card has a UPI ID ccpay.xxxxxxxxxxxxxxxx@icici (xx represents 16 digit card number)

I use it to pay credit card bill on last minute by making payment to this UPI ID when I almost forget paying on time.

Being curious, I also tried requesting payment from this UPI ID. Though the request was successful, I could not proceed further.

So technically, possible.

So if credit card can have a UPI address, a debit card too can have it. Definitely someone can look under the hood and figure out a way.

Regarding rewards, Cred app too has their own reward system. Something similar can be thought of.

On a different note, lately I stopped using cred app, because they have disabled payment of credit card bill via a debit card thus stopping us to earn points on debit card too when paying the credit card bill.

MDR -> Rewards is a traditional old idea. New idea is mining data using AI. Making sure that the user does’t stray away and only use your card for everything. The system knows what all are you are buying, where all are you spending. Profiling of user. This data is worth more compared to MDR, because the algorithm and scripts can target users basis their spend behaviours to sell a new product, service. It’s a B2B2C model. Businesses are charged to pay rewards to the customers.

I think here the UPI id is not directly linked with credit card as the UPI architecture doesn’t allow to link assign a UPI id to a credit card as far as I know.
They might have done something like this. They might have created Virtual account internally that is linked to UPI id - ccpay.xxxxxxxxxxxxxxxx@icici and inturn it’s linked to credit card. So, when a payment is made to this UPI id, money will be sent to that virtual account and internally, they use that money to make payment of the credit card.

2 Likes

I politely disagree with part where our data is economical enough to sustain rewards.

Most credit card companies earn money via

  • Interest and penalities collected
  • Annual usage fee
  • MDR

with debit cards, there is no interest and annual usage fees is also very less, without MDR you can’t expect rewards from a debit card.

2 Likes

Use other form factor of authentication beyond OTP especially for low value transactions. I prefer UPI payments over a debit card as they dont have OTP a verification in the flow.

2 Likes