Google Pay has taken a major step in India’s rapidly evolving digital payments ecosystem by launching its first-ever global co-branded credit card. Introduced in partnership with Axis Bank on the RuPay network, this new credit card can be directly linked to a user’s UPI account, blending the convenience of UPI with the benefits of a traditional credit card. Notably, Google has chosen India as the first global market for this product, underlining the country’s leadership in digital payments and UPI adoption.

The newly launched Google Pay co-branded credit card aims to simplify credit usage while making everyday transactions more rewarding and seamless for users.

One of the most standout features of the Google Pay credit card is its instant rewards system. Unlike conventional credit cards, where cashback or reward points are credited after the billing cycle or at the end of the month, Google Pay has introduced a real-time reward mechanism.

According to Sharath Bulusu, Senior Director and Product Manager at Google, users receive rewards immediately after each transaction. These rewards can be used in the very next payment, making the experience more interactive and engaging. This real-time gratification model is expected to boost user engagement and encourage more frequent UPI-linked credit card usage.

By eliminating the wait for reward redemption, Google Pay is attempting to redefine how users perceive credit card benefits in daily spending.

The card operates on the RuPay network, which is managed by the National Payments Corporation of India (NPCI). Currently, only RuPay credit cards can be linked to UPI, while Visa and Mastercard credit cards do not support this feature.

This exclusive compatibility has significantly increased the popularity of RuPay credit cards in recent years. The RuPay–UPI combination allows users to enjoy:

• Wide merchant acceptance through UPI

• Access to a credit limit for everyday payments

• Rewards and cashback on UPI transactions

• Faster and contactless payments

For merchants, it ensures easy acceptance without additional infrastructure, while customers benefit from the flexibility of credit-backed UPI payments.

The Indian UPI market is already highly competitive. Several fintech and payment platforms have entered the co-branded credit card space:

• PhonePe launched a RuPay co-branded credit card with HDFC Bank earlier this year and later partnered with SBI Cards.

• Paytm entered the segment in 2019 with Citibank and later expanded partnerships with HDFC Bank and SBI.

• Fintech platforms like CRED and Super.Money also offer UPI-linked credit card solutions.

Despite this crowded landscape, Google Pay states that its strategy is not solely focused on rapid user acquisition or revenue growth. Instead, the company emphasizes launching relevant solutions at the right time, aligned with user needs and market maturity.

Another key highlight of the Google Pay co-branded credit card is its repayment flexibility. Users can choose to repay their monthly credit card bills through EMIs spread over six or nine months, reducing financial pressure.

Google believes that flexible repayment options are essential in a market like India, where access to formal credit remains limited. According to company estimates, only one in five Indians currently has access to structured credit. Bridging this gap could unlock significant growth in the digital credit ecosystem.

By offering manageable repayment plans, Google Pay aims to make credit more accessible, responsible, and user-friendly.

The introduction of Google Pay’s global co-branded credit card signals a shift in how credit products are being tailored for India. It brings together:

• UPI’s simplicity and reach

• Credit card spending power

• Instant rewards for daily transactions

• Flexible repayment options

This combination could accelerate the adoption of digital credit while encouraging responsible spending habits among users.

Google Pay’s first global co-branded credit card marks a significant milestone in India’s fintech journey. With instant rewards, UPI integration, RuPay compatibility, and flexible EMIs, the card is designed to align with the spending behavior and financial needs of Indian consumers.

As digital payments continue to grow, this product could play a crucial role in expanding access to credit and reshaping how Indians use credit cards for everyday transactions.