RuPay is a payment service system that was created by the National Payments Corporation of India in 2014. It was established to fulfil the Regulatory Authority’s goal of establishing a domestic payment system that is open and multilateral.
While RuPay credit cards were recently in the news for being the first issuer to be able to make credit card payments through the UPI network, this article will be covering RuPay's debit cards and comparing them to VISA, which is arguably the largest issuer of debit cards in India.
Below are some important factors that differentiate RuPay cards from Visa cards and their associated benefits:
Note: There’s a RuPay International card that’s enabled for international transactions outside India.
RuPay and Visa debit cards have different benefits and features. RuPay cards are currently great for domestic use and have lower processing fees, while Visa cards are good for international transactions and have a larger customer base. Which one to choose depends on your needs. Before you choose a card, you should consider your requirements. However, RuPay has given Indians a good alternative to international payment systems like Visa. As India's digital economy grows, we can expect more people to use both RuPay and Visa.
The Fi-Federal co-branded debit card offers you several features, including zero Forex charges on select plans, the ability to make contactless payments using the 'Tap and Pay' feature, and transaction limits that you can set from the app. In addition, the card provides you with a range of offers from top brands in food, shopping, travel, and entertainment. You can also easily freeze or unfreeze your card from the app, making it a convenient option for those who may have trouble sticking to a budget.
RuPay debit cards are typically only used within India because they are domestic cards. However, with RuPay's international card, users can make transactions at points of sale, online shops, and ATMs outside of India.
Deciding between a RuPay card and a Visa card depends on how you use it. It's a good idea to think about your needs before you pick a card.