What is RuPay Card?

Important banking qna for banking aspirants, which is helpful in banking exam.

Jun 3, 2015 12:01 IST

What is RuPay Card?

  • RuPay is considered as Indian domestic card scheme launched by National Payments Corporation of India.
  • This card was created to fulfill the Reserve Bank of India’s desire to have a domestic, open loop, and multilateral system of payments in India.
  • RuPay facilitates electronic payment at all Indian banks and financial institutions, and competes with MasterCard and Visa in India.
  • NPCI maintains ties with Discover Financial to enable the card scheme to gain international acceptance
  • RuPay, being a domestic scheme is committed towards development of customized product and service offerings for Indian consumers.
  • This card is uniquely positioned to offer complete inter-operability between various payments channels and products. NPCI currently offers varied solutions across platforms including ATMs, mobile technology, cheques etc and is extremely well placed in nurturing RuPay cards across these platforms.

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