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India Credit Card Payment

By: EconomyWatch Content Date: 15 February 2010

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Timely credit card payment is crucial in avoiding default fees and utilizing interest-free payment periods. All private, public and multinational banks in India offer multiple credit card payment alternatives to encourage diligent credit card payments through added convenience. In fact, most banks have dedicated payment gateways to facilitate secure and fast India credit card payment processing.

India Credit Card Payment: Conventional Options

Payment over the bank counter or in-person payments have been the most widely used India credit card payment option. However, since it is not often possible for a cardholder to travel to a bank branch, most Indian banks offer the following easy alternatives:

Cheque/draft drop boxes: These are located at multiple ATM outlets of a bank, thereby eliminating the need to travel far to a bank branch. Some banks also setup these drop boxes at various frequented locations. For instance, ABN Amro has setup drop boxes for credit card cheque payment at various Delhi Metro stations.

Post/courier: Most credit card issuers accept cheque payments towards the card outstanding through registered post or courier. While making a payment through this mode, it is advisable to mail the cheque or draft at least three days before the payment due date to allow time for postal transmission.

India Credit Card Payment Alternatives

Payments through the credit card issuer’s Internet banking facility is the most convenient way to pay an India credit card bill from the convenience of one’s home or office. To make a payment through Internet banking, a cardholder has to simply login to the relevant bank’s Net banking account with his user ID and password, and nominate a savings/current account from which the payment is to be debited. Net banking allows cardholders to make immediate payments as well as schedule payments for future dates.

Additionally, to avoid the hassle of remembering due dates and making single payments, a credit cardholder can setup a direct debit from a savings or current account in India. A direct debit form can be requested for at a credit card issuer’s branch or may be downloaded from their site. This alternative allows cardholders to choose their desired monthly payment amount and date, on which the payment will be automatically debited every month.

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