Rupay Card
Rupay Card is an Indian payment card network established by the National Payments Corporation of India (NPCI). It is a domestic card payment system, designed to offer an alternative to international payment card networks such as Visa and Mastercard.
Rupay Cards can be used for various transactions, including purchases at point-of-sale (POS) terminals, online payments, and cash withdrawals from ATMs. These cards are accepted at a wide range of merchants within India, including retail stores, e-commerce websites, and service providers.
The primary objective behind the introduction of Rupay Card was to promote digital transactions and financial inclusion in India. Rupay Cards are generally associated with savings or current bank accounts held by individuals and are issued by various participating banks across the country.
Features
- RuPay cards are accepted on over 10,000 e-commerce sites and at more than 800,000 point-of-sale (POS) terminals.
- The daily cash withdrawal limit at ATMs is Rs. 25,000.
- All processing is carried out within the country, ensuring faster transactions compared to other debit cards available in the market.
- RuPay member banks are exempt from paying any network registration fees.
- The solution provides enhanced security measures, including RBI-mandated 2-Factor authentication such as registration, OTP, image-based authentication, and anti-phishing measures.
- The card is convenient and accessible, even in rural areas with limited or no banking services.
- The simplified architecture of the transaction flow reduces transaction time, leading to faster processing and a decrease in drop-outs.
