All That You Need To Know About RuPay Debit Card

You must be well familiar with Mastercard and Visa the two American Companies widely accepted in over 200 countries. Mastercard and Visa are involved in processing payments between the card issuing banks and the banks of merchants.

If you just hold the debit card or credit card in your hand and take a close look, you will see Mastercard and Visa written on it. Every time you swipe your card at a POS, Mastercard and Visa make some money.

1. What is RuPay?

RuPay is India’s very own domestic payment network built on the lines of International payment networks like MasterCard, Visa, Diner’s Club and American Express.

RuPay collaborates with over 600 International, regional and local banks across India. Take a look at the 10 core promoter banks of RuPay which are SBI, PNB, Canara Bank, BOB, UBI, BOI, ICICI Bank, HDFC Bank, Citibank and HSBC.

RuPay is a product of NPCI and helps RBI and Indian Bank Association (IBA) create a secure electronic payment and settlement system in India.

RuPay serves a very important purpose. It promotes financial inclusion in India. It aids cashless transactions as India aims to become a less cash economy.

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