Is this the END of Credit Cards?
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- Опубліковано 19 кві 2023
- Is this the END of Credit Cards?
There have been some recent updates in the UPI ecosystem which pose an existential threat to the Credit Card Ecosystem. In this video we will explain what those announcements are and why they pose threat to the entire Credit Card Industry.
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Credit Limit of the Credit Card is the major factor because of which Credit Cards will always be there
3rd and most important factor is "Will Banks provide Cashback and Rewards in Credit Line UPI, equal to or higher than they do with Credit Cards, Will Amazon/Flipkart give 10% discount on Credit Line and 3000-10000 extra discount on using Credit Cards in Mega Sales".
Well I don't think it will wipe credit cards but the use of upi will increase surely
Credit cards will always be a premium product and luxury asset to own.
You explain very well ma'am and applause for your research.... I want to put my point as if credit line will be given similar to credit card, there will be still some major points by which bank will lose, as debit card still exist even upi payment is full fledged as there are some atm charges that bank not wanna lose and that are overall more than debit card printing cost.... Similar for credit card, like some people in times of emergency uses cc in atm by bank earns huge amount of profit .. and in some other cases like variety of cards provide variety of offers thus profiting itself, thus, I can say cc industry is not gonna shutdown. I hope it should not as it creates competitive environment among banks.
Still I wonder with your research.
Thank you!
Why someone will go for credit line upi if he is not getting any cashback. Credit cards are going to remain for a pretty long period.
Credit cards will be there till the end of Humanity, Period
Informative and well explained 👏
Entire history of credit cards in such a nice way of presentation. Subscribed your channel.
Subtitles dekh kar lagra hai editor hire kar hi liya 😊
These r my credit card with limit for personal reason i have used and pay regularly but but cuz over utilizing i am getting effected in cibil which can be best utilize ratio
Op-1
45,000 limit - 70 percent utilization
1,00,000 limit - 30 percent utilization
30,000 limit - 50 percent utilization
Op-2
45,000 limit -30 percent utilization
1,00,000 limit - 45 percent utilization
30,000 limit - 50 percent utilization
0p-3
45,000 limit - 70 percent utilization
1,00,000 limit- 45 percent utilization
30,000 limit - no more bill Generation
I think ki credit card ki ticket size niche aa jayegi, bas..
Also rupay cards rewards have been de-valued.
To koi khas fayda nahin..
Great move. Hope it'll go live soon. Thanks for the video.
Welcome 😊🙌
Don't agree. These are two completely different verticals. It can replace debit cards but not credit card. As of now only benifit of UPI is free cost transaction. But all CC comes with value added benifits or services and these services comes with some cost. If UPI will come into these services they will ultimately have to transfer the cost to customer.
I think apart from the timing of demonization which helped in the adoption rate of upi , the major factor of UPI to be sustainable compared to credit card was elimination of merchant fees and having the pos terminals for sellers which attracted bhajiwalas and local shopkeepers to adopt upi
L
Icici Bank Canada just closed their credit cards.Last date was 31st Jan 2023 to clear all their dues
🤣 Credit cards are mostly used by me at least to make use of loyalty programs to it's fullest extent possible. Until such time that UPI gives me rewards and benefits on the same lines as paid credit cards, this is a far fetched dream...
Recently UPI lite is too good no need to enter pin for small amount transactions
The money in UPI lite (wallet) doesn't attract interest which is a negative point.
UPI payment is more famous for one reason. Currently charges for UPI payment are much less or zero when compared to payment done via credit card. And this is why shopkeepers either don't keep card swiping machine or ask customer to pay via UPI. But how long will this go? The day UPI increases its charges, people may again switch to some other cheaper options or cash.
one more thing is for credit card is shopkeeper need to has machine and their is some kind of fear while swiping card be it debit or credit. upi is much more hassle fee.
Very informative and very beautifully expressed .
Thank you 😊🙌
We use credit card to earn extra rewards. If upi line does not give any rewards/cash back, we will prefer cash. Simple funda : no cash back = no online payment , only cash
Carrying large amount of cash is a problem. To that extent UPI will always work. You may not get points there, but so won’t you in cash payments.
@@amitabhmaheshwari maximum limit of upi is currently 1lakh, carrying 1 L cash is not a problem from me, Where I have credit card limit of 10L+ for 4 cards.
@@NIRJHARDAS carrying any amount of cash is a hasssle for me, imagine you gotta pay change and in worst case in paise, ik u wld round of cash and get away, but with UPI, everything is logged and organised. This no way means that UPI isn't useful - It's just you. I don't even carry cash, UPI has become reliable and also dependent
1st part I completely agree..
Idk how will be the rewarding of credit line.
Cashback we get on using cc includes
(1-5% cashback for cc spend + 1% reward for paying bill in apps like cred, cheq + 1% paying bill using a debit card)
Additionally we get bank offers as well while purchasing
So this much saving is no where near the >>>>>> savings on debit cards / upi
Smartphones are gonna be the perfect replacement of physical wallet first UPI for cash transaction then digi locker for aadhar and driving licence then now UPI with credit card link 🔗 anything left in the wallet? That phone wouldn't carry🤣🤣🤣
Very insightful
Thank you 😊🙌
My credit card limit
Amazon ICICI credit card 270000
PAYTM HDFC Bank credit 200000
SBI credit card simply click 50000
Nice analysis 👍
Thank you 😊🙌
Very well explained 👌👏👏
Thank you 😊🙌
Let's NOT get ahead of ourself, UPI is good for small purchases but I'll always go back to my AMEX card for bigger purchases to have the assurance & peace of mind that if something goes wrong, all I need to do is File a dispute/make just one call and then it is the Merchant's headache to deal with my credit card company, Not mine. Besides there are n no. of benefits of CC, services offered that UPI will never match.
Why ICICI Rupay Coral credit card is not allowed to be linked to any UPI payment app like Gpay or PhonePe. How to use that?
But without debit card and credit how can you set-up upi
Thanks for information
Well i like your smile ❤
It's quite pritty so keep smiling 😊
Welcome 😊🙌
Good research video..very informative...keep it up mam👍👍👍❤️🙏🙏
Thank you 😊🙌
Mam credit card agar apply Kiya or Jo Kiya woo nahi aiya dusra high verient aiyaa or active nahi Kiya to kiya charge lagaga
UPI is restricted to our country alone, so the cards or plastic isn't going anywhere yet
Will it be wrong if we call it a virtual credit card?
The challanage here will be the dependency on customers mobile internet. UPI only works if the customers mobile has internet.
Why don't you make a video about Stanc Bank and it's Cards, I am really looking for it!
Sure, We will try to cover this in our future videos.
@@bekifaayati Sure, I’ll be waiting!
Slice is one of example of this new beginning 🎉
Sir mere uncle ne credit card ka loan nahi pay kiya hai aur bank me unhone unke family ka nahi , mere family ka number de diya hai recovery call walo ko , unka uthaya hua paisa unke family ke hote hume recovery agents humare family se mang rahe hai and baar baar call kr rahe hai jabki humne loan liya bhi nahi hai jab maine unse pucha aap jisne loan liya hai uske family ko kyu nahi bolte to vo log mujhe hi ulta seedha bolne lage aur kehte hai ki , loan lene wale ne mere family ka number aur naam diya hai to ab mere family me kisi ko pay karna padega , yeh to galat hai aise to kal ko koi bhi kisi ke bhi naam pe loan lega aur bank wale kisi inocent ko call karke dhamkayenge , aap batao is situation me hume kya karna chahiye
You are talking absolutely nonsense, credit card industry is going to get big boost due to economic development more people can afford and will be eligible for credit cards, the concept of credit line it self is ridiculous, is this a campaign for credit line walahs
Mam..cc v/s UPI another major difference y customer prefer cc is rewards or cashback which is not available on upi
Well said bro, had the same thought through the entire video. Credit is what upi cannot do
I guess it's all about penetration of a mode of payment to the lowest level of economic strata. 5G tech and increasing usage of mobile phones will increase the penetration further. This will in turn lead to creation of better and hassle free new modes of payment (like UPI). But UPI is not the end. It'll become better and smarter. Maybe integration with AI will help in evolving this industry. god speed to everybody who is watching this interesting video.
Ma'am.... firstly your motive for the channel is clear and good for making people wake for financial growth,but look at yourself....I mean,u look so attractive and cute !!!!!!
I've been watchin' your vids & shorts for 'bout two weeks and now I'm kinda became your fan. Especially of those fake moustaches which you stick on your upper lips 😂😂😂 🍭🍭🍭
I have a question. Some international platforms accept only credit cards and hardly Visa Debit cards. How will UPI replace that?
It will take ages. Reason being the same as that of UPI adoption on international platforms + apple pay, samsung pay etc.
what about credit score?
Why did I even look at this video? Smh
Change your microphone. Your high pitch voice is hard on the ears.
💔 Tod Diya aapne... Aab credit card ke liye apply Kiya hua hai...lo ki cancel ✖️ kar du ...please batana
We need to learn our lesson don't give monopoly to one thing they usuly misuse it
Plus we know till now that UPI is not completely safe
U speak of research and didn't get the basic reason of credit card. CC is all about charging the merchant and giving back rewards to customers.
I have multiple credit cards in my gpay app but when I scan and pay at the Shop I don't get an option to pay using the credit card 😅
Now phonepe also supports rupay upi
@@bookworm-bq8dp I have BOB hpcl rupay card ..even on BHIM I m unable to add it
@KC mv merchants having savings account linked to their UPI won't be able to accept credit card on UPI
@@suryavikramaditya2851 how to link credit card with UPI, I tried bhim to link my IRCTC Rupay credit card or even if I consider any credit card 2 link with UPI it doesn't happen
Are you actively using Credit card when scanning at any shop?
Your volume is very low
Video me Jabardasti Subtitle thusneka kya logic hai....
For deaf people?? More reach and accessibility??
@@Siscerto subtitle vdeo me add na karke...youtube ka subtitle option rakhne par humare pass option rahega usko off karna....sometime its annyoing to watch video with subtitle
Nope not gonna happen..
Coz, The details are the name, which is CREDIT..
Simple credit card Ki tarah upi credit card be success Nahin Ho Gaya Jaise upi hai uPi free Hai free of cost vahi credit card per MDR charges lagte Hain ..
Credit card se lounge access milta ha cashback extra discount on online product where not in upi
Good Point
Maintain uniform volume of voice and avoid harsh audios like sudden bombing in between of harsh audio
Respected madam please make a informational video on SBM Bank Gilt credit card on basis of FD ,THANKS
Sure, we will try to cover this in our future videos.
Interesting
Credit card charges increasing but benefits decreasing
🔥🔥
mam Kabeer Singh movie k ragging waala scene me aap thi kyaa ❓
You are right bro
Ha ab viewers ka ragging hota hai😂 joking
Yes
I follow your videos, they've helped me a lot, eased my analysis for credit cards. Thanks a lot!!
Frank established the business for credit card, went for dinner with his wife again, forgot the wallet again, and ofcourse, the credit card within it. He had to wash the utensils again. Seems credit card was not the solution for him. 🤭 Just saying.
Icici Bank bohot logo ko pay later service de raha hai usme charges kya lag te hai ??????.....make a video on it.
Sure, We will try to cover this in our future videos.
How could you say avg ticket size of credit card is 5000 and 800 for UPI when UPI is used largely in low income bracket too, where as credit card is used by people with higher income.
Yeah, I think the sum total would be HUGE for UPI. Shoesmith to Street Vendors to Shopping to Entertainment to almost everything in daily life. Imagine you took a CC to street vendor for purchase🤣. But CC has its own pros, still doesn't convince me
UPI framework was started before 2014...
Thanks to demonization? Really???
Madam please dhire se boliye nahi to mic ko thoda dur leke record kijiye, video k upar click karte hi awaz se sine se ruh nikal jata he sudden awaz se 😆
wallet bhul gya tha Frank.. credit card bhi toh wallet mein hi rkhega na Frank??
Credit /Debit are much much easier to use than UPI.
Credit cards will not end that easy 😅
big brands will still use and accept credit cards for marketing preposes
45 days free ka pesa kon use nhi krna chahenga ab to credit card pr bhi bill date weekly generate hongi 😂
Madam me aap ka fan hu❤
सही है...मरना भी चाहिए क्योंकि ये साला जिसके पास भी रहता वो साला हमेशा मेरी तरह कर्जे में ही रहता है क्योंकि कंट्रोल नहीं होता... जिस तरह दशकों से अमेरिकन रहते आ रहे हैं... ये वहीँ से आया था... Very good explanation mam...
Isn't she very cute 🥰🥰🥰🥰🥰
Log credit card bhi wallet me hi rakhte h 😅
I don't agree
Majority of industries and banks depend on credit only, credit cards was there and always be there.
First in India Diners club launch credit💳, second BANK OF BARODA, BOB CARD
Wrong Central Bank of India issued the first credit card in India.
Its over
🧡🤍💚🥰 from Akhil 👍🙏🇮🇳
Good explanation
Thank you 😊🙌
Ok
💚🙏
Yr aap thoda Hindi bola kro plz or thoda saral bhasa me plz qu aap batate accha ho ❤
credit card ko indians cashback k liye hi jyada use karte hai
Kya bolti ho Mujhe kuch samajh nhi ata, mai toh bass tumhe dekhne k liye video dekhta hu 😍
❤
👍👍👍👍
Acche videos banate ho aap. Bas isme time waste hogaya.
What a coincidence lol my axis credit card is coming lol
Same
@@shubhansusingh7770 hehe
Nahin chalega ye credit line
Her chindi followers are such that they will wait for 2 days delivery of medicines prescribed by doctor to give to the dying patients....just to save some 15%. Discount is important than patient illness.😅😅😅
Mam apki nan wali video dekna hai
Ya to pura hindi bolo ya english ye khichdi kyu bnate hoo
Hme koii na deta cc😂
Kay yaar ya to Hindi bolo ya English
DIGITAL CREDIT CARD 😂
I want credit cards to die. I want entire BNPL system to die especially for consumers.