Rio Partnered with Yes Bank & NPIC to launch Co-branded Credit Card; Rio launched UPI app

Current Context: On November 18, 2024, Rio, a rapidly growing fintech platform, partnered with Yes Bank and the National Payments Corporation of India (NPCI) to launch the YES Bank Rio RuPay Credit Card.

• This co-branded credit card integrates credit benefits with the convenience of UPI (Unified Payments Interface) payments, allowing users to make transactions at over 100 million merchant locations across India.
• Key Features of the YES Bank Rio RuPay Credit Card:
• Seamless UPI Integration: Users can link their credit card to UPI apps, making it possible to use credit for UPI payments, offering flexibility and ease.
• Extensive Merchant Acceptance: The card can be used at a vast network of merchants that accept UPI payments, both online and offline.
• Rewards and Benefits: Cardholders can enjoy rewards points, cashback offers, and other benefits specific to Rio’s co-branded credit card program.
• Additionally, Rio launched its own UPI app to enhance user experience by integrating credit options with UPI payments.
• This app aims to provide more accessible financial solutions, particularly targeting customers in Tier 2 and Tier 3 cities who may have limited access to traditional banking services.

Question:

1 Which organizations partnered with Rio to launch the YES Bank Rio RuPay Credit Card?

• A) HDFC Bank and NPCI
• B) Yes Bank and NPCI
• C) ICICI Bank and NPCI
• D) SBI and NPCI

Answer: B) Rio partnered with Yes Bank and the National Payments Corporation of India (NPCI) to launch the YES Bank Rio RuPay Credit Card.