RuPay

2021-08-06T11:28:46Z

2405:201:E021:40A1:CD92:9A0A:93E9:4479: /* Rupay classic */ citation

{{Distinguish|Rupee}}
{{Short description|Indian multinational card payment service}}
{{Use Indian English|date=July 2021}}
{{Use dmy dates|date=July 2021}}
{{Infobox brand
| name = RuPay
| logo = RuPay.svg
| logo_size = 220px
| logo_upright =
| logo_alt = RuPay
| logo_caption =
| image =
| image_upright =
| alt =
| caption =
| producttype = {{Plainlist|
*[[Credit card]]
*[[Debit card]]
*[[Contactless smart card]]
*[[Stored-value card]]
*[[Digital card]]
*[[BharatQR]]
}}
| currentowner = [[National Payments Corporation of India]]
| country = India
| introduced = {{Start date and age|2014|05|08|df=yes}}
| related =
| markets = {{Unbulleted_list|[[India]]|[[Singapore]]|[[Bhutan]]|[[Maldives]]|[[Saudi Arabia]]|[[UAE]]|[[Bahrain]]| [[Myanmar]]|[[Australia]]|[[South Korea]]|International by [[card reciprocal agreements]]}}
| trademarkregistrations =
| ambassadors =
| tagline = ONE LIFE. ONE RuPay.
| website = {{url|www.rupay.co.in}}
| module = 
| module1 = 
}}

'''RuPay''' ''(portmanteau of '''Ru'''pee and '''Pay'''ment)'' is an Indian [[multinational corporation|multinational]] [[financial services]] and [[payment system|payment service system]], conceived and launched by the [[National Payments Corporation of India]] (NPCI) on 26 March 2012.<ref>{{cite web|url = https://www.rupay.co.in/rupay-advantage/rupay-global | title = Rupay international website}}</ref><ref>{{Cite news|url=https://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/npcis-rupay-debit-cards-to-rival-visa-and-mastercard/articleshow/12424537.cms|title=NPCI's RuPay debit cards to rival Visa and Mastercard|date=27 March 2012|work=The Economic Times|access-date=25 July 2019}}</ref><ref>{{Cite web|title=RuPay - Indigenous Payment Cards launched by NPCI for all Indian banks|url=https://www.rupay.co.in/who-we-are|access-date=11 September 2020|website=rupay.co.in}}</ref> It was created to fulfil the [[Reserve Bank of India]]'s (RBI) vision of establishing a domestic, open and multilateral system of payments. RuPay facilitates electronic payment at all Indian banks and financial institutions.<ref>{{Cite web|url=https://timesofindia.indiatimes.com/business/india-business/Finally-India-card-Rupay-to-replace-Visa-MasterCard/articleshow/7755657.cms|title=Finally, India card Rupay to replace Visa, MasterCard|website=The Times of India|access-date=3 September 2019}}</ref> NPCI maintains ties with [[Discover Financial]], [[JCB Co., Ltd.|JCB]] to enable RuPay card scheme to gain international acceptance.<ref>{{Cite web|url=https://investorrelations.discover.com/default.aspx?SectionId=5cc5ecae-6c48-4521-a1ad-480e593e4835&LanguageId=1&PressReleaseId=397632ed-018d-4fd4-9c9c-652eaa005596|title=Discover Financial Services And National Payment Corporation Of India Announce Strategic Alliance Enabling Increased Network Acceptance|website=investorrelations.discover.com|language=en-US|access-date=3 September 2019}}</ref><ref>{{Cite web|url=https://www.bankingtech.com/2019/07/first-jcb-card-issued-in-india-with-npci-partnership/|title=First JCB card issued in India with NPCI partnership|last=July 2019|first=24th|website=FinTech Futures|language=en-GB|access-date=25 July 2019}}</ref>

In 2019, RuPay reported 100 crore (1 billion) transactions through both online and offline payment modes.<ref>{{Cite news|last=Bhakta|first=Pratik|title=RuPay clocks 1 billion transactions, surpasses debit cards in usage|work=The Economic Times|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/rupay-clocks-1-billion-transactions-surpasses-debit-cards-in-usage/articleshow/70475048.cms|access-date=20 November 2020}}</ref>

== Background ==
In 2009, [[Reserve Bank of India|RBI]] had asked the [[Indian Banks' Association|Indian Bank Association]] to create a non-profit payment company which will design an indigenous payment card. The card was tentatively referred as India Pay. After years of planning, [[National Payments Corporation of India|NPCI]] was entrusted with the implementation<ref>{{Cite journal|title=RuPay - A Reality|url=https://www.npci.org.in/images/npci/media-coverage/Banking_Frontiers_Mar_12_RuPay_Cover_story.pdf|journal=Banking Frontiers|volume=March 2012|pages=24}}</ref> and finalised the name of the proposed card as RuPay, a [[portmanteau]] of the words [[Indian rupee|''ru''pee]] and ''pay''ment to avoid naming conflicts with other financial institutions using the same name.<ref>{{Cite web|url=https://www.financialexpress.com/archive/indiapays-name-changed-to-rupay/730023/|title=IndiaPays name changed to RuPay|date=28 December 2010|website=The Financial Express|language=en-US|access-date=3 September 2019}}</ref> The colours used in the logo are an allusion to the tricolour [[flag of India]]. NPCI conceived it as an alternative to [[Mastercard]] and [[Visa Debit|Visa]] while consolidate and integrate various payment systems in India.<ref name="indTimesCompete">{{cite web|url=http://articles.timesofindia.indiatimes.com/2011-03-21/india-business/29170858_1_debit-cards-credit-card-market-npci|archive-url=https://web.archive.org/web/20110324172828/http://articles.timesofindia.indiatimes.com/2011-03-21/india-business/29170858_1_debit-cards-credit-card-market-npci|url-status=dead|archive-date=24 March 2011|title=Finally, India card Rupay to replace Visa, MasterCard|date=21 March 2011|work=[[The Times of India]]|access-date=14 August 2014}}</ref><ref>{{Cite web|url=https://www.moneycontrol.com/news/business/cnbc-tv18-comments/-2063913.html|title=Visa & MasterCard gone. Rupay card, bring it on|website=Moneycontrol|access-date=25 July 2019}}</ref>

RBI in its vision paper 2009–12 on payment systems in India said that the need for such a system arises from the absence of a domestic price setter that has caused the Indian banks to bear the high cost for affiliation and the connection with international card associations schemes like Visa and Mastercard resulting in the need for routing even domestic transactions which account for more than 90%, through a switch located outside the country.<ref>{{Cite web|url=https://m.rbi.org.in/Scripts/PublicationVisionDocuments.aspx|title=Reserve Bank of India – Reports|website=m.rbi.org.in|access-date=3 September 2019}}</ref><ref>{{cite web |url=https://rbidocs.rbi.org.in/rdocs/PublicationReport/Pdfs/VIS01092009.pdf |title=PAYMENT SYSTEMS IN INDIA |website= rbidocs.rbi.org.in|access-date=27 November 2020}}</ref>

The RuPay scheme was launched on 26 March 2012. RuPay was dedicated to India on 8 May 2014, by the then [[President of India]], [[Pranab Mukherjee]], at the [[Rashtrapati Bhavan]] in [[New Delhi]].<ref>{{cite web|url=http://www.dnaindia.com/india/report-pranab-mukherjee-dedicates-india-s-own-payment-gateway-rupay-to-nation-1986503|title=Pranab Mukherjee dedicates India's own payment gateway 'RuPay' to nation & Updates at Daily News & Analysis|date=9 May 2014|work=Daily News and Analysis|access-date=14 August 2014}}</ref><ref>{{cite web|url=http://www.livemint.com/Money/tz1Pjm3WnRJvcfrisif66L/Indias-own-payment-gateway-RuPay-launched.html|title=India's own payment gateway 'RuPay' launched|date=8 May 2014|website=Livemint|publisher=Livemint|access-date=14 August 2014}}</ref><ref>{{cite web|url=http://www.thehindubusinessline.com/economy/soon-you-can-use-the-rupay-platform-to-shop-abroad-book-railway-tickets/article5989845.ece|title=Soon, you can use the RuPay platform to shop abroad, book railway tickets | Business Line|author=Our Bureau|work=Business Line|access-date=14 August 2014}}</ref> NPCI launched an international subsidiary called [[NPCI International Payments Limited]] (NIPL) on 19 August 2020 to increase the globalisation and availability of RuPay in foreign markets.<ref>{{Cite web|last=Nandi|first=Shreya|date=19 August 2020|title=NPCI launches international unit to expand reach of UPI|url=https://www.livemint.com/news/india/npci-launches-international-arm-for-adoption-of-upi-rupay-in-other-countries-11597846171558.html|access-date=19 March 2021|website=Mint|language=en}}</ref> As of March 2021, the market share of RuPay in India by volumes of traction is at 34% and by value 30% respectively.<ref>{{Cite web|last1=Subramanian|first1=Shobhana|last2=Bose|first2=Shritama|date=23 March 2021|title='RuPay's market share by volumes is 34%'|url=https://www.financialexpress.com/industry/banking-finance/rupays-market-share-by-volumes-is-34/2218027/|access-date=24 March 2021|website=The Financial Express|language=en-US}}</ref>

== Products ==

=== Consumer ===

==== RuPay Debit ====
As of July 2018, RuPay cards have been issued to banks across India. Apart from the main private-sector and public-sector banks, RuPay cards are also issued by cooperative banks (scheduled cooperative banks, district cooperative banks, state cooperative banks, urban cooperative banks) and regional rural banks (RRBs) in the country.{{citation needed|date=August 2021}}

==== RuPay Credit ====

Rupay credit cards were in operation since June 2017, according to NPCI managing director and CEO A P Hota with eight public sector banks, one private sector bank and one cooperative bank issuing the card without any formal launch. A pilot project was going on to technically enabling more and more banks in RuPay credit cards with additional five public sector banks and by March 2018, NPCI plans to have 25 banks altogether on board.<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/economy/finance/rupay-credit-cards-already-operational-npci-chief-a-p-hota/articleshow/59564332.cms|title=Rupay credit cards already operational: NPCI chief A P Hota|date=12 July 2017|work=The Economic Times|access-date=25 July 2019}}</ref>

Total 12 Banks launched RuPay Credit cards

*[[HDFC Bank]]<ref>{{Cite web|url=https://www.hdfcbank.com/personal/credit_card/bharat-card|title=Bharat Credit Card - Earn Cashback on Everyday Spends | HDFC Bank}}</ref>
*[[IDBI Bank]]<ref>{{Cite web|url=https://www.idbibank.in/winnings-credit-card.asp|title=Winnings Credit Card | IDBI Bank|website=idbibank.in}}</ref>
*[[United Bank of India]]<ref>[https://web.archive.org/web/20200103122103/https://creditcard.unitedbank.co.in/HomePage/unauth/index.html?page]</ref>
*[[Union Bank of India]]<ref>{{Cite web|url=https://www.unionbankofindia.co.in/english/personal-creditcard-superpremium.aspx|title=RuPay Credit Card | Union Bank of India|website=unionbankofindia.co.in}}</ref>
*[[Punjab National Bank]]<ref>[https://www.pnbcard.in/login/types6.html]{{dead link|date=November 2020}}</ref>
*[[Punjab and Maharashtra Co-operative Bank]]<ref>{{Cite web|url=https://www.pmcbank.com/english/Cards-Home.aspx|title=Punjab & Maharashtra Co-operative Bank Ltd-About Us|website=pmcbank.com}}</ref>
*[[Saraswat Bank]]<ref>{{Cite web|url=https://www.saraswatbank.com/content.aspx?id=Credit-Cards|title=Saraswat Cooperative Bank Ltd.|website=saraswatbank.com}}</ref>
*[[Canara Bank]]<ref>{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/canara-bank-launches-rupay-credit-card/article24441725.ece|title=Canara Bank launches RuPay credit card|first=Our|last=Bureau|website=@businessline}}</ref>
*[[Central Bank of India]]<ref>[https://web.archive.org/web/20190901150353/https://ccard.centralbankofindia.co.in/login/rupay_select_credit_card.html]</ref>
*[[Vijaya Bank]]<ref>{{cite web |url=https://www.evijaya.bankofbaroda.in/Card-Services/Credit-Cards/Vijaya-Rupay-Credit-Card |title=Info|access-date=27 November 2020}}</ref>
*[[Bank of India]]<ref>{{cite web | title=BOI | website=Bank of India | url=https://www.bankofindia.co.in/Details/CRuPayCard | access-date=27 November 2020}}</ref>
*[[SBI Card]]<ref>https://www.sbicard.com/en/personal/credit-cards/travel/irctc-rupay-sbi-card.page</ref>

To further boost the fast-growing payment network, [[SBI Cards|SBI Cards & Payments Services Ltd]] will soon launch RuPay credit cards. This is a last agreement that is left out between [[National Payments Corporation of India|NPCI]] and [[State Bank of India|SBI]] with the proposed product launch in fiscal 2019.<ref>{{Cite web|url=https://www.entrepreneur.com/article/338935|title=Making a Case for Wider Acceptance of Rupay|last=Singal|first=Aastha|date=2 September 2019|website=Entrepreneur|language=en|access-date=2 September 2019}}</ref> After a moratorium from RBI on Mastercard due to data localization issue, [[Federal Bank]] and [[Yes Bank]] started on-boarding new credit card customers on RuPay platform.<ref>{{Cite web|last=|first=|date=24 July 2021|title=Federal Bank, Yes Bank in talks with Visa and RuPay for onboarding new credit card users|url=https://www.thehindubusinessline.com/money-and-banking/federal-bank-yes-bank-in-talks-with-visa-and-rupay-for-onboarding-new-credit-card-users/article35497010.ece|url-status=live|access-date=2021-08-06|website=Business Line|language=en}}</ref><ref>{{Cite news|last=Lele|first=Abhijit|date=2021-07-23|title=YES Bank may have to forgo issuing 100K cards; inks pact with RuPay|work=Business Standard India|url=https://www.business-standard.com/article/finance/yes-bank-may-have-to-forgo-issuing-100k-cards-inks-pact-with-rupay-121072301642_1.html|access-date=2021-08-06}}</ref>

==== RuPay Combo ====
The [[Union Bank of India]] launched RuPay Combo Debit Cum Credit Card in November 2018, the first RuPay card that facilitates both debit and credit transactions through a single card. The card has 2 EMVs and 2 magnetic stripes.
<ref>{{cite web|url=https://www.moneycontrol.com/news/business/personal-finance/debit-cum-credit-card-should-you-opt-for-this-combo-card-3876531.html|title=Debit-cum-credit card: Should you opt for this combo card?|website=Moneycontrol|access-date=5 May 2019}}</ref><ref>{{cite web|url=https://www.zeebiz.com/personal-finance/news-endgame-for-debit-credit-card-now-swipe-this-for-both-functions-more-reward-points-97702|title=Endgame for Debit, Credit Card? Now, swipe this for both functions, more reward points|date=5 May 2019|website=Zee Business|language=en|access-date=5 May 2019}}</ref>

==== RuPay Prepaid ====
[[Sodexo]] launched the Sodexo Multi-Benefit Pass in partnership with RuPay in May 2019. The card contains a [[magnetic stripe]] that allows users to pay for meal-benefits and a chip that allows them make purchases through the RuPay network. It can also be used to make online purchases on web portals that accept RuPay payments.<ref>{{cite web|url=https://www.moneycontrol.com/news/business/companies/sodexo-launches-multi-benefits-pass-in-india-4040511.html|title=Sodexo launches multi-benefit pass in India|website=Moneycontrol|access-date=8 June 2019}}</ref>

[[Indian Railway Catering and Tourism Corporation|Indian Railway Catering and Tourism Corporation (IRCTC)]] in collaboration with the [[Union Bank of India]] and the [[National Payments Corporation of India|National Payment Corporation of India]] launched the IRCTC-UBI RuPay pre-paid card on 2015 to book tickets, do shopping and pay service bills. The card is a first-of-its-kind in the market as both virtual as well as physical cards are being issued to customers in two variants.<ref>{{Cite web|url=https://www.businesstoday.in/lifestyle/off-track/railway-irctc-launches-rupay-debit-card-for-ticket-booking/story/217266.html|title=Now, book railway tickets with RuPay pre-paid debit cards|website=businesstoday.in|access-date=2 September 2019}}</ref><ref>{{Cite web|url=http://tech.economictimes.indiatimes.com/news/technology/indian-railways-rupay-debit-card/46676344|title=Indian Railways launches RuPay prepaid debit card service – ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=2 September 2019}}</ref>

Kochi1, a RuPay prepaid smart card rolled out by the Kochi Metro Rail Ltd (KMRL) with the help of the [[Axis Bank]] on 2 March 2019, became the first inter-modal transit card when its usage was extended to private buses with additional services including parking solutions in near future. It is launched under [[SmartCity, Kochi|Kochi Smart City]] project and there are plans to extend the card to auto-rickshaws, ferries including that of the [[Kerala State Water Transport Department]], proposed Water Metro, [[Kerala State Road Transport Corporation|KSRTC]] buses so as to make it a Common Mobility Card in all respects.<ref>{{Cite web|url=https://www.deccanchronicle.com/nation/current-affairs/030319/kochi1-card-services-in-private-buses.html|title=Kochi1 card services in private buses|last=E|first=Krishna Kumar K.|date=3 March 2019|website=Deccan Chronicle|language=en|access-date=2 September 2019}}</ref>

[[RBL Bank]] had partnered with GI Technology, a [[Wirecard]] subsidiary and India's largest wallet-based domestic money remittance company operating under the Brand Name ICashCard to launch RBL-ICASH co-branded, open loop RuPay Prepaid Card.<ref>{{Cite web|url=https://www.finextra.com/pressarticle/67215/rbl-and-gi-technology-to-launch-open-loop-rupay-prepaid-card|title=RBL and GI Technology to launch open loop RuPay Prepaid card|date=28 November 2016|website=Finextra Research|language=en|access-date=2 September 2019}}</ref>

ItzCash, India's largest digital payments company announced that it has partnered with RBL Bank to launch the country's first co-branded Rupay Platinum Prepaid Card. The multi-purpose card will roll out a suite of prepaid services across physical and virtual platforms. The service was launched to ensure seamless interoperability, access to unlocking multiple solutions and driving the prepaid program of the nation.<ref>{{Cite web|url=https://www.indiainfoline.com/article/news-top-story/itzcash-partners-with-rbl-bank-to-launch-rupay-platinum-prepaid-wallet-116081100386_1.html|title=ItzCash partners with RBL Bank to launch RuPay platinum prepaid wallet|website=indiainfoline.com|language=en|access-date=2 September 2019}}</ref>

==== RuPay Contactless ====
[[File:EMVCoContactlessIndicator.svg|thumb|45x45px|Old Symbol|alt=]] [[File:RuPay Contactless.png|thumb|76x76px|New Symbol]] [[National Common Mobility Card|RuPay Contactless]] is a [[contactless payment]] technology feature that allows cardholders to wave their card in front of contactless payment terminals without the need to physically swipe or insert the card into a point-of-sale device. This is an [[EMV]]-compatible, contactless payment feature similar to [[Mastercard#Mastercard Contactless|Mastercard Contactless]], [[Visa Contactless]], and [[ExpressPay]] which use [[radio-frequency identification|RFID]] technology.

The National Payments Corporation of India's (NPCI) card network RuPay has launched a contactless prepaid NFC card. It launched the contactless card for the [[Ahmedabad]] [[Smart city]] project in association with ICICI Bank and Ahmedabad Municipal Corporation. It also launched similar prepaid contactless cards for the Kochi Metro Rail Ltd (KMRL) and Bangalore Metropolitan Transport Corporation (BMTC) in association with Axis Bank.<ref>{{Cite web|url=https://www.medianama.com/2017/06/223-rupay-contactless-cards/|title=RuPay launches contactless NFC prepaid cards|date=26 June 2017|website=MediaNama|language=en-US|access-date=2 September 2019}}</ref>

Contactless can currently be used on transactions up to and including [[Indian rupee|₹]]2000. In March 2019 under ‘One Nation, One Card’ scheme a [[National Common Mobility Card|National Common Mobility Card (NCMC)]] for transportation was launched by [[Prime Minister of India|Prime Minister]] [[Narendra Modi]] at a function in [[Ahmedabad]] on RuPay platform in order to avoid vendor lock-in and create an interoperable system under [[Make in India]].<ref>{{Cite web|url=https://www.eturbonews.com/246814/india-launches-national-common-mobility-card-for-seamless-travel/|title=India launches National Common Mobility Card for seamless travel|date=8 March 2019|website=Buzz travel {{!}} eTurboNews {{!}}Travel News|language=en-US|access-date=21 July 2019}}</ref><ref>{{Cite web|url=https://www.financialexpress.com/money/one-nation-one-card-all-you-need-to-know-about-the-national-common-mobility-card-launched-by-pm-modi/1507864/|title=One Nation One Card: All you need to know about the National Common Mobility Card launched by PM Modi|date=7 March 2019|website=The Financial Express|language=en-US|access-date=21 July 2019}}</ref>[[File:NCMC Card.jpg|thumb|National Common Mobility Card|alt=]]

This is the latest development in the forward movement of the Interoperable Fare Management System. The main aim behind the card is to redefine payment for public transport systems and retail ease of access, at the cutting edge of digital payments. The project is under the purview of the [[Ministry of Housing and Urban Affairs]], with the vision "One Card for all payments". With this theme, the card needed to be accepted across multiple verticals. It then made sense to take up a card which is gaining a significant amount of adoption in the contactless payment space. The specifications for the NCMC programme are with the government and it is not owned by any specific body, hence all card payment schemes are welcome to join the programme.

[[Brihanmumbai Electric Supply and Transport|Brihanmumbai Electricity Supply and Transport (BEST)]] buses are set to become the first public transportation in India to roll out the National Common Mobility Card (NCMC). The one nation, one card system will initially be implemented on a pilot basis from November 2019 and will be available widely only from 2020. More than 10,000 BEST conductors will be given the hand-held devices that would be able to scan the NCMC cards with just one tap, alongside generating paper tickets.<ref>{{Cite web|url=https://www.moneycontrol.com/news/trends/best-to-become-first-undertaking-to-implement-one-nation-one-card-4297401.html|title=BEST to become first undertaking to implement 'One Nation, One Card'|website=Moneycontrol|access-date=21 August 2019}}</ref>

Visa is ready with the specifications to start issuing cards on the NCMC network and has started discussions with banks to issue their cards on NCMC as well, but it will take some time for the cards to start getting rolled out in the market.<ref>{{Cite web|url=https://tech.economictimes.indiatimes.com/news/internet/govt-to-push-all-on-the-go-payments-to-visa/68767235|title=Visa set to board govt's mobility card – ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=21 August 2019}}</ref> Just weeks after its biggest competitor Visa, [[Mastercard]] set to join One Nation One Card project.<ref>{{Cite web|url=https://tech.economictimes.indiatimes.com/news/internet/mastercard-set-to-join-govts-one-nation-one-card-project/69436412|title=Mastercard set to join govt's One Nation One Card project – ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=21 August 2019}}</ref>

After discussions with [[Bharat Electronics Limited]] (BEL) and [[Centre for Development of Advanced Computing]] (C-DAC), Bangalore Metro Rail Corporation Limited (BMRCL) confirmed the trial run from 1 January 2020 with four automatic fare collection (AFC) gates at Nadaprabhu, Kempegowda and [[Baiyyappanahalli railway station|Baiyyappanahalli]] stations. Passengers of [[Bangalore Metropolitan Transport Corporation]] (BMTC) buses and Metro trains on the Majestic-Whitefield route will be able to use the card. Existing AFC gates at Phase 1 metro stations will have to be upgraded while AFC gates at Phase 2 metro stations operational by 2024 will accept new cards. Around 11,000 old electronic ticketing machines will be replaced with new android-based ones of which around 2,000 have already been changed to accept the card.<ref>{{Cite web|url=https://timesofindia.indiatimes.com/city/bengaluru/bengaluru-common-mobility-card-may-be-trialled-from-january-1/articleshow/71513209.cms|title=Bengaluru: Common mobility card may be trialled from January 1 {{!}} Bengaluru News - Times of India|last1=10 Oct|first1=Christin Mathew Philip {{!}} TNN {{!}} Updated|last2=2019|website=The Times of India|language=en|access-date=20 October 2019|last3=Ist|first3=11:36}}</ref>

[[State Bank of India]] (SBI) in collaboration with [[Indian Railway Catering and Tourism Corporation]] (IRCTC) launched SBI-IRCTC RuPay contactless card on 28 July 2020 to reward frequent railway travellers in India with the proposal of maximum savings during the journey period. The card uses Near Field Communication (NFC) technology and can be used by the railway travellers for benefits on retail, dining and entertainment besides transaction fee waivers.<ref>{{Cite web|title=SBI Cards, IRCTC launch co-branded contactless credit card on RuPay platform|url=https://www.moneycontrol.com/news/business/sbi-cards-irctc-launch-co-branded-contactless-credit-card-on-rupay-platform-5608871.html|access-date=29 July 2020|website=Moneycontrol}}</ref>

==== RuPay Global ====
{{Further|Card reciprocal agreements}}[[File:RuPay-JCB Global Card.jpg|thumb|RuPay-JCB Global Card]]The NPCI started issuing global cards in 2014.<ref>{{Cite web|url=https://www.outlookindia.com/outlookmoney/credit-cards/rupay-makes-the-debit-and-credit-space-more-competitive-3412|title=Rupay Makes The Debit And Credit Space More Competitive|last=Mishra|first=Rajat|date=17 August 2019|website=Outlook India|language=en|access-date=3 September 2019}}</ref> Singapore has offered assistance to promote India's digital payment network RuPay card overseas by becoming its first international partner.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/singapore-offers-help-to-promote-rupay-card-overseas/articleshow/61408517.cms|title=Singapore offers help to promote RuPay card overseas|date=1 November 2017|work=The Economic Times|access-date=25 July 2019}}</ref> On 7 March 2012, [[National Payments Corporation of India|NPCI]] entered into a strategic partnership with [[Discover Financial Services]] (DFS) for RuPay, enabling the acceptance of RuPay Global Cards to utilise the [[Discover Card|Discover]], [[Diners Club International]] and [[Pulse (interbank network)|PULSE]] networks for international purchases and cash access outside of India. Both companies were also working to implement D-PAS, Discover's [[EMV]] technology to offer chip-based cards to RuPay card members.<ref>{{Cite web|url=https://www.dinersclub.com/about-us/press/discover-financial-services-and-national-payment-corporation-of-india-announce-strategic-alliance-enabling-increased-network-acceptance|title=Press Detail|website=Diners Club International|language=pt|access-date=25 July 2019}}</ref> The cards are accepted by over 41 million (41 million) merchants and 1.8 million (1.8 million) ATMs across 190 countries.
[[National Payments Corporation of India|NPCI]] with [[JCB Co., Ltd.|JCB]] launched RuPay-JCB Global card on 22 July 2019. After extending domestic POS terminal and ATM support for incoming foreign [[JCB Co., Ltd.|JCB]] card holders in 2017, [[National Payments Corporation of India|NPCI]] entered into the second phase of partnership with the launch of co-branded card to further increase the international acceptance of RuPay. The card will offer special cashback program for POS transactions outside India in addition to selected popular international destinations for travellers. It will support additional services such as in-city JCB Lounges located in airports with round the year merchant promotions all over the world. While debit cards are only being issued initially through the partnership, credit and prepaid cards are also on the anvil.<ref name="www.ETtech.com">{{Cite web|url=https://tech.economictimes.indiatimes.com/news/corporate/jcb-international-partners-with-npci-to-launch-rupay-jcb-global-cards/70326850|title=JCB International partners with NPCI to launch RuPay JCB Global cards – ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=25 July 2019}}</ref>

RuPay issued 64 million (64 million) Global Cards between 2014 and March 2019.<ref>{{cite web|url=https://www.thehindubusinessline.com/money-and-banking/are-banks-shying-away-from-offering-rupay-cards-to-affluent-customers/article27152471.ece|title=Are banks shying away from offering RuPay cards to affluent customers?|website=Business Line|language=en|access-date=8 June 2019}}</ref><ref>{{cite web|url=https://www.zeebiz.com/companies/news-rupay-card-success-transactions-grow-to-rs-117400-crore-in-fy19-99317|title=RuPay card success: Transactions grow to Rs 1,17,400 crore in FY19|date=18 May 2019|website=Zee Business|language=en|access-date=8 June 2019}}</ref> RuPay has tied-up with international players like Discover, [[Japan Credit Bureau]] and China [[UnionPay|Union Pay]] to enhance its international acceptance and recently achieved a milestone of issuing 25 million (25 million) RuPay – Discover global cards.<ref name="gulfnews.com">{{Cite web|url=https://gulfnews.com/uae/rupay-to-only-charge-10-of-fees-charged-by-other-card-issuers-in-uae-1.65989697|title=RuPay to only charge 10% of fees charged by other card issuers in UAE|website=Gulf News|language=en|access-date=24 August 2019}}</ref>

RuPay has several agreements with other international payment networks. Some major examples include:
* [[Discover Card|Discover]]
* [[Diners Club International]]
*[[Pulse (interbank network)|Pulse]]
* [[JCB Co., Ltd.|JCB]] in Japan
* [[Network for Electronic Transfers|NETS]] in Singapore
* [[China UnionPay|UnionPay]] in China<ref>{{cite web |last1=Bureau |first1=BW Online |title=RuPay: The 'Made In India' Card Making Its Mark Globally |url=http://www.businessworld.in/article/RuPay-The-Made-In-India-Card-Making-Its-Mark-Globally/05-06-2018-151119/ |website=BW Businessworld |access-date=5 May 2019 |language=en}}</ref>
*[[BC Card]] in South Korea
* [[Elo (card association)|Elo]] in Brazil
* DinaCard in Serbia

=== Rupay classic ===
This is standard basic variant of Rupay card which offers minimum feature. As such there are no benefits airport lounge access etc but in this variant you can avail various merchant offers like offers at Dinning, Travel, Pharmacy, Lifestyle, cosmetics, Retails, Shopping, Jewelry etc.<ref>{{Cite web|date=2019-03-28|title=What is RuPay Debit Card? Know its types and other key details|url=https://www.zeebiz.com/personal-finance/news-what-is-rupay-debit-card-know-its-types-and-other-key-details-92002|access-date=2021-08-06|website=Zee Business}}</ref>

=== Rupay Platinum ===
Features list of Rupay platinum debit card consist of airport lounge access Program, Comprehensive Insurance Cover up to 200,000 rupees, Amazon pay offer,and various merchant offers like cosmetics, Retails, Shopping, Pharmacy, Jewelry Dinning, Travel, etc.)

==== RuPay Select ====
NPCI launched RuPay Select card in the year 2020 for customers especially from affluent section of the society. The card is different from previous offerings as it is independent of issuing bank that form partnership with various businesses to provide card specific benefits. Now all the benefits are curated under one package independent of bank partnerships, so as to stop customer to apply for multiple card schemes. The RuPay Select is for NPCI to capture the market-share of high spending customers and provide an Indian alternative against the premium offerings from [[Mastercard]], [[Visa Inc.|Visa]] etc.<ref>{{Cite web|url=https://www.livemint.com/|title=Business News Today, Stock Market News, Sensex & Finance News|website=Livemint|language=en|access-date=31 March 2020}}</ref><ref>{{Cite web|url=https://www.hindustantimes.com/tech/rupay-select-a-gateway-to-premium-wellness-experiences/story-uomaaK5GrgcXVA5DxBRV8K.html|title=RuPay Select a gateway to premium wellness experiences|date=30 March 2020|website=Hindustan Times|language=en|access-date=31 March 2020}}</ref>

==== BharatQR ====
{{Further|BharatQR}}
[[File:BharatQR.png|thumb|130x130px|BharatQR Symbol]]
This is developed by [[NPCI]] in collaboration with [[Mastercard]], and [[Visa Inc.|Visa]] as an integrated interoperable [[QR code payment|QR code based payment system]] and was launched in September 2016. It facilitates users to transfer their money from one source to another without the need of physical cards. The money transferred through BharatQR is received directly in the user's linked bank account using [[Immediate Payment Service|IMPS]]. It provides a common interface between RuPay, [[Mastercard]], [[Visa Inc.|Visa]], [[American Express]] as opposed to other such individual proprietary systems.<ref>{{Cite web|url=https://www.financialexpress.com/money/bharat-qr-here-are-5-things-to-know-about-the-new-cashless-transaction-mechanism/560282/|title=Bharat QR: Here are 5 things to know about the new cashless transaction mechanism|date=21 February 2017|website=The Financial Express|language=en-US|access-date=3 September 2019}}</ref> BharatQR is supported on both [[Android (operating system)|Android]] and [[iOS]] devices. Bijlipay, an end to end digital payment solutions company, is the first Indian Point-of-Sale (PoS) devices providing company to enable Bharat QR code on the screens of its POS machines. According to RBI, the Bharat QR Code is the world's first inter-operable payment acceptance solution.<ref>{{Cite web|url=https://www.deccanchronicle.com/technology/in-other-news/240517/indias-first-bharat-qr-code-recognising-pos-machine.html|title=India's first Bharat QR code recognising POS machine|date=24 May 2017|website=Deccan Chronicle|language=en|access-date=3 September 2019}}</ref>

==== Recurring Payment ====

RuPay Card is expected to roll out recurring payments without the two-factor authentication process for transactions of less than ₹2,000 during first quarter of 2020, as per National Payments Corporation of India (NPCI) [[chief operating officer]] (COO) Praveena Rai. The technology work is going on and the entire ecosystem is gearing up for the shift.<ref>{{Cite web|url=https://www.financialexpress.com/industry/banking-finance/rupay-may-soon-roll-out-recurring-payments-sans-two-factor-authentication/1780063/|title=RuPay may soon roll out recurring payments sans two-factor authentication|date=30 November 2019}}</ref>

=== Commercial ===

==== RuPay Business ====
NPCI launched RuPay Business Credit card for corporate clients on 23 July 2020 at Global Fintech Fest in partnership with [[State Bank of Mauritius]] (SBM). Fintech startup Yap helped in developing the [[application programming interface]] (API) powering the card while EnKash will provide dedicated customer support and expense management service. SBM is targeting the product towards SMEs and MSMEs. It will be available through State Bank of Mauritius touch-points across India which is undergoing business expansion. RuPay Business credit card is offering instant bulk payout, 30-day credit period on business purchase, automated [[Goods and Services Tax (India)|goods and services tax]] (GST) and a dashboard to manage business spending that will further help the clients move towards more powerful corporate offerings from NPCI in future.<ref>{{Cite web|title=NPCI launches RuPay commercial card|url=https://www.moneycontrol.com/news/business/startup/npci-launches-rupay-commercial-card-5587181.html|access-date=25 July 2020|website=Moneycontrol}}</ref><ref>{{Cite news|last=Bora|first=Garima|title=NPCI launches RuPay commercial card, SBM Bank and EnKash first to collaborate|work=The Economic Times|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/npci-partners-with-rupay-commercial-cards-sbm-bank-and-enkash-first-to-collaborate/articleshow/77123773.cms|access-date=25 July 2020}}</ref>

==== RuPay Pro ====
Rupay Pro credit card is also launched on 23 July 2020 at Global Fintech Fest but is mainly oriented towards young individual entrepreneurs. It is offering variable billing cycle, travel expenses, rental payments with dedicated customer services and expense tracking mechanism. It supports digital and paperless [[Know your customer|know you customer]] (KYC) process on-boarding.<ref>{{Cite web|title=RuPay Commercial Cards {{!}} RuPay|url=https://www.rupay.co.in/rupay-commercial-cards|access-date=25 July 2020|website=www.rupay.co.in}}</ref><ref>{{Cite web|title=SBM Bank India, EnKash, YAP and RuPay launch business credit card|url=https://www.thehindubusinessline.com/money-and-banking/sbm-bank-india-enkash-yap-and-rupay-launch-business-credit-card/article32171067.ece|access-date=25 July 2020|website=@businessline|language=en}}</ref>

== Acceptance ==

=== Domestic ===

==== India ====
RuPay cards are accepted at almost all ATMs across India.<ref>{{Cite web|url=https://www.dinersclub.com/about-us/press/discover-financial-services-and-national-payment-corporation-of-india-announce-strategic-alliance-enabling-increased-network-acceptance|title=Press Detail {{!}} Diners Club International|website=Diners Club International|access-date=7 August 2016}}</ref> According to the data published by the [[National Payments Corporation of India]], there are well over 200,000 ATMs<ref>{{Cite news|url=https://www.huffingtonpost.in/2016/11/11/this-is-how-2-lakh-atms-in-india-will-get-a-complete-makeover_a_21603736/|title=This Is How 2 Lakh ATMs in India Will Get A Complete Makeover|date=11 November 2016|work=Huffington Post India|access-date=21 March 2018|language=en-IN}}</ref> and more than 2,614,584 PoS terminals in India in the RuPay network. In addition to ATMs and PoS terminals, RuPay cards are accepted online on most domestic payment gateways and some international payment gateways (through its alliances with other networks).<ref>{{cite web|url=http://www.dnaindia.com/money/report-come-april-you-can-use-rupay-even-online-1816753|title=Come April, you can use RuPay even online & Updates at|author=Megha Mandavia|date=29 March 2013|work=Daily News and Analysis|access-date=9 February 2014}}</ref><ref>{{cite news|url=http://www.business-standard.com/article/companies/npci-launches-e-commerce-solution-in-rupay-card-113062100860_1.html |title=NPCI launches e-commerce solution in RuPay Card |newspaper=Business Standard India |date=21 June 2013 |access-date=9 February 2014|last1=India |first1=Press Trust of }}</ref>

RuPay cards are accepted at 97% of all PoS terminals in India.{{citation needed|date=August 2021}} RuPay has partnered with 39 PoS-acquiring banks in India to accept their cards at PoS terminals located at different merchant locations.{{citation needed|date=August 2021}}

RuPay cards are yet not accepted as a valid payment method on [[Google Play]] for making purchases in apps and games.<ref>{{cite web|url=https://support.google.com/googleplay/answer/2651410?co=GENIE.CountryCode%3DIndia&hl=en|title=Accepted payment methods on Google Play – India|website=Google Play Store}}</ref> [[PayPal]] now supports RuPay card system.<ref>{{cite web|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/paypal-cto-says-in-for-the-long-haul-in-india-to-back-upi-soon/articleshow/74560215.cms|title=PayPal CTO says in for the long haul in India, to back UPI soon|website=PayPal India}}</ref> From July 2021, Apple iPhone, iPad, and iPod touch users in India can use RuPay debit and credit cards on [[App Store (iOS/iPadOS)|App Store]] and [[iTunes Store]].<ref>{{Cite web|last=Akolawala|first=Tasneem|date=31 July 2021|title=Apple’s App Store Gets UPI, RuPay, Netbanking as Alternate Payment Options|url=https://gadgets.ndtv.com/apps/news/apple-app-store-itunes-new-payment-options-upi-rupay-netbanking-added-2499386|url-status=live|access-date=2021-08-06|website=Gadgets 360|language=en}}</ref>

=== International ===

==== Singapore ====
The [[Prime Minister of India]], [[Narendra Modi]], launched the RuPay scheme in Singapore on 31 May 2018. The launch took place in parallel with related services offered by the [[National Payments Corporation of India|NPCI]], such as [[Unified Payments Interface|UPI]] and [[BHIM]]. The [[State Bank of India]], Singapore will be the first country to issue RuPay cards in the country.<ref>{{Cite web|url=http://www.tribuneindia.com/news/nation/pm-launches-rupay-in-singapore/598323.html|title=PM launches RuPay in Singapore|date=June 2018|website=The Tribune}}</ref>

The RuPay digital payments system was linked up with Singapore's 33-year-old [[Network for Electronic Transfers]] (NETS). RuPay users will be able to make payments at all NETS acceptance points across Singapore. Holders of Singapore NETS will be able to make online purchases on [[e-commerce]] [[merchant]]s that accept RuPay as well as use the 2.8 million (2.8 million) RuPay [[Point of sale|PoS terminals]] in India. Holders of NETS cards would also be able to withdraw cash at any [[Automated teller machine|ATM]] in India.{{citation needed|date=August 2021}}

==== Bhutan ====
Following Bhutanese Prime Minister [[Lotay Tshering]]'s visit to India on 28 December 2018, Indian Prime Minister [[Narendra Modi]] announced that RuPay cards would be introduced in Bhutan.<ref>{{cite web |title=PM Modi says Rupay cards soon to be launched in Bhutan to improve people to people contacts |url=https://www.apnnews.com/pm-modi-says-rupay-cards-soon-to-be-launched-in-bhutan-to-improve-people-to-people-contacts/ |website=APN News |access-date=8 April 2019}}</ref><ref>{{cite web |title=PM Modi announces Rs 4500 crore assistance to Bhutan, Rupay cards in Himalayan nation |url=https://newsroompost.com/featured-5/pm-modi-announces-rs-4500-crore-assistance-to-bhutan-rupay-cards-in-himalayan-nation/424419.html |website=NewsroomPost |access-date=8 April 2019 |language=en |date=28 December 2018}}</ref> RuPay cards were officially launched in Bhutan on 17 August 2019 with Prime Minister Modi making the first RuPay transaction in the country with a purchase from [[Simtokha Dzong]].<ref>{{cite web|url=https://timesofindia.indiatimes.com/india/pm-modi-launches-rupay-card-in-bhutan/articleshow/70715060.cms|title=PM Modi launches RuPay card in Bhutan|date=17 August 2019|website=The Times of India|language=en}}</ref>

[[Reserve Bank of India]] (RBI) and [[Royal Monetary Authority of Bhutan]] (RMA) announced that they would integrate the financial switches of the two countries in order to simplify cross border transactions. India will support an estimated {{INRConvert|27|m}} cost of the integration work. Post-integration, RuPay card holders can use their cards across all ATMs and POS terminals in Bhutan. The RMA maintains an account with the [[State Bank of India]]. Any withdrawal by a RuPay card holder in Bhutan would be settled through an instant credit into the RMA's account. The arrangement is expected to benefit both countries by minimising foreign currency outflow. Visa and MasterCard payments are settled in US dollars, while RuPay can be settled in [[Indian rupee|rupees]]. The [[Bhutanese Ngultrum]] is fixed at a one-to-one exchange rate with the [[Indian rupee]] making settlement easy for both countries. In addition, Bhutanese banks will issue RuPay cards that will allow Bhutanese card holders to access the RuPay network in India.<ref>{{cite web |title=Financial switches of Bhutan and India to be integrated soon |url=http://www.kuenselonline.com/financial-switches-of-bhutan-and-india-to-be-integrated-soon/ |website=KuenselOnline |access-date=8 April 2019}}</ref>

On 20 November 2020, [[Prime Minister of India|Prime Minister]] [[Narendra Modi]] and [[List of prime ministers of Bhutan|Prime Minister of Bhutan]], [[Lotay Tshering|Dr. Lotay Tshering]] jointly launched Phase-2 of RuPay Bhutan in which [[Bhutan National Bank]] will now issue RuPay-based cards allowing Bhutanese RuPay card holders to use them within Bhutan and in India.<ref>{{Cite web|title=PM Narendra Modi, Bhutanese counterpart Lotay Tshering jointly launch RuPay card Phase-II|url=https://www.newindianexpress.com/nation/2020/nov/20/pm-narendra-modi-bhutanese-counterpart-lotay-tshering-jointly-launch-rupay-card-phase-ii-2225809.html|access-date=20 November 2020|website=The New Indian Express}}</ref><ref>{{Cite web|title=Bhutan's requirements will always be top priority for India: PM Modi|url=http://www.newsonair.com/Main-News-Details.aspx?title=PM-Modi,-Bhutanese-counterpart-Lotay-Tshering-jointly-launch-e-RuPay-card-Phase-II&id=404601|access-date=20 November 2020|website=newsonair.com}}</ref>

==== Maldives ====
[[Prime Minister of India|Prime Minister]] [[Narendra Modi]] announced that RuPay cards would be launched in the Maldives during his address to the [[People's Majlis]] (the Maldivan Parliament) on 8 June 2019. Modi added that the introduction of RuPay would increase the number of Indian tourists visiting the Maldives.<ref>{{cite web |title=Terrorism, ferry service, cricket diplomacy: Everything that happened during Modi's Maldives visit |url=https://indianexpress.com/article/india/narendra-modi-maldives-ibrahim-solih-sri-lanka-5771296/ |website=The Indian Express |access-date=8 June 2019 |language=en-IN |date=8 June 2019}}</ref><ref>{{cite web |title=Issuing RuPay card in Maldives will increase Indian tourists in Maldives: PM Modi |url=https://in.news.yahoo.com/issuing-rupay-card-maldives-increase-170200776.html |website=Yahoo News |access-date=8 June 2019 |language=en-IN}}</ref>

On 4 December 2019, [[Bank of Maldives]] (BML) partnered with National Payment Corporation of India (NPCI) to introduce RuPay Cards in Maldives. BML and NPCI signed a MoU to introduce the acceptance of RuPay cards in Maldives. BML will accept RuPay cards on the bank's ATMs, POS machine and other digital channels. BML revealed that the issuance of RuPay co-branded prepaid cards by the bank, and the acceptance of the co-branded cards across ATMs, POS machines and digital channels in India will also take place in due time.<ref>{{Cite web|url=http://edition.mv/business/13790|title=BML partners with NPCI to introduce RuPay Cards in Maldives|website=The Edition}}</ref>

==== UAE ====
A Memorandum of Understanding (MoU) to establish a technology interface between the payment platforms in India and UAE was exchanged between the [[National Payments Corporation of India]] and UAE's Mercury Payments Services. UAE is the first country in the Gulf where RuPay has been launched. Around 175,000 merchant acceptance locations of 21 businesses and 5,000 ATMs in the UAE will soon start accepting India's RuPay card, it was announced on Saturday. RuPay Cards will charge 10% of fees in comparison to other card issuers in UAE. Three banks in the UAE – [[Emirates NBD]], [[Bank of Baroda]] and [[First Abu Dhabi Bank]] will start issuing the RuPay card. Businesses that will adopt RuPay are NMC Healthcare, [[LuLu Group International|Lulu Group]], [[Aster DM Healthcare]], [[Landmark Group]], [[Sobha Ltd.|Sobha Ltd]], Apparel Group, Nikai Group, Regal Group of Companies, [[ITL Cosmos Group|ITL Cosmos]], Jashanmal National Company LLC, Allana Group FMCG Products, Petrochem Middle East, [[Transworld Group (Shipping and Logistic company)|Transworld Group]], Al Dobowi Group, [[VPS Healthcare]], UPL Group, Conares, [[Al Maya Group]], EPS Facilities Services Group, Emaar and [[DP World]], according to the Indian Embassy in Abu Dhabi. UAE receives close to 3 million (30 Lakhs) Indian tourists annually. Acceptance of Rupay card in UAE will lower the charges as tourists will save on exchange rate.<ref name="gulfnews.com"/><ref>{{Cite web|url=https://gulfnews.com/business/where-you-can-use-rupay-in-the-uae-now-1.1566640253126|title=Where you can use RuPay in the UAE now|website=Gulf News|language=en|access-date=24 August 2019}}</ref>

==== Bahrain ====
An MoU on 25 August 2019 was signed between the National Electronic Payments Network (BENEFIT), a Bahrain company handling ATM and POS transactions among others, and National Payments Corporation of India (NPCI) for launch of RuPay card in the Gulf Kingdom. The MoU will make it possible for Indian expats to pay and send money home in Indian Rupee by using RuPay cards.<ref>{{Cite web|url=https://in.news.yahoo.com/rupay-launch-bahrain-soon-india-181952279.html|title=RuPay launch in Bahrain soon, India signs MoU with Gulf country|publisher=Yahoo! News|language=en-IN|access-date=26 August 2019}}</ref> As of 2021, BENEFIT is enabling it's member acquirers of 515 ATMs and 40,000 PoS terminals in Behrain to accept and recognize Issuer Identification Numbers (IIN) from [[NPCI International Payments Limited|NPCI International Payment Limited]] (NIPL).<ref>{{Cite web|date=2021-08-05|title=BENEFIT to power RuPay acceptance at ATMs and POS across Bahrain|url=https://ibsintelligence.com/ibsi-news/benefit-to-power-rupay-acceptance-at-atms-and-pos-across-bahrain/|access-date=2021-08-06|website=IBS Intelligence|language=en-US}}</ref><ref>{{Cite web|title=India's NPCI ties up with Benefit to power RuPay in Bahrain|url=http://www.tradearabia.com/news/BANK_385442.html|url-status=live|access-date=2021-08-06|website=Trade Arabia}}</ref>

==== Saudi Arabia ====
Indian [[Ministry of External Affairs (India)|Ministry of External Affairs]] (MEA) announced on 24 October 2019 that to help domestic pilgrims visiting Mecca and Madina, Prime Minister Narendra Modi will launch RuPay card in Saudi Arabia during a state visit to the gulf country on 29 October 2019.<ref>{{Cite web|url=https://timesofindia.indiatimes.com/business/india-business/india-to-launch-rupay-card-in-saudi-arabia/articleshow/71743756.cms|title=India to launch RuPay card in Saudi Arabia - Times of India|website=The Times of India|access-date=24 October 2019}}</ref>

==== Myanmar (Burma) ====
Myanmar has decided to work together with India on the launch of RuPay enabled cards at the earliest and explore the creation of a digital payment gateway, according to a joint statement issued by the President of Myanmar, [[Win Myint]] on 28 February 2020. [[National Payments Corporation of India|NPCI]] needs to adhere to Myanmar financial regulation and laws which would not only stimulate the economy of Myanmar but further facilitate cross border tourism and business from India.<ref>{{Cite web|url=https://www.thehindubusinessline.com/economy/policy/india-myanmar-sign-10-pacts-to-boost-bilateral-ties/article30943802.ece|title=India, Myanmar sign 10 pacts to boost bilateral ties - The Hindu Business Line|website=Business Line|access-date=28 February 2020}}</ref>

==== Australia ====
On Indian Prime Minister's virtual meet with Australian Prime Minister on 4 June 2020, both the countries are exploring the possibility to launch Indian RuPay Card in Australia.<ref>{{Cite web|url=https://www.businessinsider.in/policy/foreign-policy/news/india-and-australia-pump-12-7-million-into-ai-quantum-computing-and-robotics/articleshow/76194354.cms|title=India and Australia pump $12.7 million into AI - Business Insider|website=Business Insider|access-date=4 June 2020}}</ref>

==== South Korea ====
[[BC Card]] announced on 23 August 2017 that it has signed a bilateral [[memorandum of understanding]] (MoU) for strategic network partnership with National Payments Corporation of India (NPCI). Through the MoU, the two companies have agreed to provide services allowing transactions using domestic-use-only cards issued by BC Card in India and RuPay in [[South Korea]]. There are also plans to expand the areas of co-operation through the launch of BC Card-NPCI "co-branded" cards and development of new business models.<ref>{{Cite web|url=https://www.bccard.com/card/html/company/en/cyber/news/1203520_37170.jsp|title=BC Card Signs MOU on Network Partnership with NPCI in India - bccard|website=bccard|access-date=23 August 2017}}</ref><ref>{{Cite web|url=http://www.businesskorea.co.kr/news/articleView.html?idxno=19063|title=BC Card Pushes into Indian Card Market - businesskorea|website=businesskorea|access-date=24 August 2017}}</ref> NPCI released a circular on 8 April 2020 on acceptance of RuPay cards in South Korea.<ref>{{Cite web|url=https://www.npci.org.in/sites/default/files/circular/Circular-Interchange_and_Pricing_circular_for_Acceptance_of_RuPay_cardsin_Singapore_UnitedArabEmirates_SouthKorea.pdf|title=Interchange and Pricing circular for Acceptance of RuPay cards in Singapore, United Arab Emirates & South Korea|website=NPCI|access-date=8 April 2020}}</ref>

=== Future market ===

==== Philippines ====
Under the aegis of [[Government of India]], NPCI started discussion on infrastructure development for digital payment, [[financial inclusion]] and [[Direct Benefit Transfer]]. NPCI also proposed RuPay as an alternative to Mastercard and Visa in Philippines to improve cross border bilateral trade and tourism.<ref>{{Cite web|last=Roche|first=Elizabeth|date=14 March 2021|title=After Singapore, New Delhi in talks to launch RuPay card in the Philippines|url=https://www.livemint.com/news/india/after-singapore-philippines-may-be-next-south-east-asian-nation-to-launch-rupay-11615722245660.html|access-date=19 March 2021|website=mint|language=en}}</ref>

== Market share ==
RuPay's parent organisation, the [[National Payments Corporation of India]] (NPCI), has been backed by 10 leading banks. Of these are 6 public-sector banks: [[State Bank of India]], [[Bank of Baroda]], [[Punjab National Bank]], [[Canara Bank]], [[Union Bank of India]], and [[Bank of India]]; 2 private-sector banks: [[ICICI Bank]] and [[HDFC Bank]]; and 2 foreign banks: [[Citibank]] and [[HSBC]].<ref name="backing">{{cite news|url=http://www.livemint.com/Industry/ZA9pPkeGdY9wrChh1BDQhN/NPCIs-unified-payment-interface-to-start-in-April.html|title=NPCI's unified payment interface to start in April|last1=Nair|first1=Vishwanath|date=7 January 2016|work=Mint|access-date=17 September 2016|publisher=Live Mint|last2=Vishwanathan|first2=Vivina}}</ref> Banks in India are authorised to issue RuPay debit cards to their customers for use at ATMs, PoS terminals, and e-commerce websites. RuPay's market share rose from 0.6% in 2013 to 50% by November 2018.<ref>{{Cite web|url=https://www.financialexpress.com/industry/banking-finance/rupay-shines-from-limited-presence-in-2013-to-capturing-half-of-market-now-3-reasons-behind-phenomenal-rise/1378445/|title=Rupay shines! From limited presence in 2013 to capturing half of market now; 3 reasons behind stellar rise|date=11 November 2018|website=The Financial Express|language=en-US|access-date=25 July 2019}}</ref>

As of December 2016, NPCI has issued 317 million (31.7 Crores) RuPay cards which include 205 million (20.5 Crores) of cards to the [[Pradhan Mantri Jan Dhan Yojana|Jan Dhan Yojana]] account holders. Usage of RuPay cards at points of sale and for e-commerce together that used to be about 300,000 (3 Lakhs) per day (pre-demonetisation) soared seven times to about 2.1 million (21 Lakhs) (post-demonetisation) with a targeted daily volume of 5 million (50 Lakhs) transactions through RuPay by the end of 2017.<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/rupay-card-usage-surges-7-times-npci/articleshow/56209630.cms|title=RuPay card usage surges 7 times: NPCI|date=28 December 2016|work=The Economic Times|access-date=25 July 2019}}</ref>

RuPay surpassed Visa as the largest payment card network in India by number of transactions in June 2017, recording 375 million (37.5 Crores) transactions.<ref name="FE1" />

About 600 million (60 Crores) cards have been issued as of March 2019 by 1,100 banks giving it more than 58% market share in the country's card issuance market, beating the much older duo of Visa and Mastercard by number of cards issued.<ref>{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/rupay-makes-a-quantum-leap-in-4-years/article27164842.ece|title=RuPay makes a quantum leap in 4 years|last=Pani|first=Priyanka|date=17 May 2019|website=Business Line}}</ref> RuPay holds about 30% market share by volume and value of transactions made.<ref>{{cite web |last1=Pani |first1=Priyanka |title=RuPay makes a quantum leap in 4 years |url=https://www.thehindubusinessline.com/money-and-banking/rupay-makes-a-quantum-leap-in-4-years/article27164842.ece |website=@businessline |access-date=8 June 2019 |language=en}}</ref> According to [[National Payments Corporation of India|NPCI]] data released in May 2019, 1127 million (112.7 Crore transactions) valued at ₹1.174 Lakh Crores (US$17 billion) were made on RuPay cards during the 2018–19 fiscal year. RuPay held 58% of the market share by number of cards issued, 30% by number of point of sale transactions, and 25% by number of online transactions from around 11% two years ago.<ref>{{cite web |last1=Pani |first1=Priyanka |title=RuPay makes a quantum leap in 4 years |url=https://www.thehindubusinessline.com/money-and-banking/rupay-makes-a-quantum-leap-in-4-years/article27164842.ece |website=Business Line |access-date=8 June 2019 |language=en}}</ref>

RuPay charges transaction processing fees that are approximately 23% lower than those charged by Visa and Mastercard.<ref name="FE1">{{cite web |title=Rupay shines! From limited presence in 2013 to capturing half of market now; 3 reasons behind stellar rise |url=https://www.financialexpress.com/industry/banking-finance/rupay-shines-from-limited-presence-in-2013-to-capturing-half-of-market-now-3-reasons-behind-phenomenal-rise/1378445/ |website=The Financial Express |access-date=5 May 2019 |date=11 November 2018}}</ref> The [[National Payments Corporation of India|NPCI]] charges a flat-fee per transaction of 60 paise from acquiring bank and 30 paise from the card issuing bank. For example, if a customer made a transaction with their RuPay card at a POS terminal operated by another bank, then the customer's bank (the bank that issued the card) would pay 30 paise to the NPCI while the bank that operates the POS terminal (the acquiring bank) would pay 60 paise to the NPCI.<ref>{{cite news |title=RuPay: How a six-year-old card gave the scare to global biggies such as Visa and Mastercard |url=https://economictimes.indiatimes.com/news/economy/finance/rupay-how-a-six-year-old-card-gave-the-scare-to-global-biggies-such-as-visa-and-mastercard/articleshow/66591913.cms |newspaper=The Economic Times |access-date=5 May 2019 |date=13 November 2018}}</ref>

RuPay reported 1 billion (100 Crore) transactions through both online and offline merchant payment modes in financial year 2019, a nearly 70% jump compared to the 667 million (66.7 Crore) transactions in financial year 2018, according to data sourced from the [[National Payments Corporation of India|NPCI]] and the [[Reserve Bank of India]]. RuPay debit cards saw a growth of 32% in FY ’19 at 4.40 billion (440 Crore) transactions compared to the previous year's 3.30 billion (330 Crore) transactions.<ref>{{Cite web|url=https://thetechportal.com/2019/08/01/rupay-india-transactions/|title=RuPay passes 1 billion transactions milestone in FY 2019|last=Madgaonkar|first=Shreyes|date=1 August 2019|website=The Tech Portal|access-date=1 August 2019}}</ref> Also, in terms of value, RuPay cards noted a rise of 80% in FY ’19, beating overall debit card payments which grew 30% compared to the previous fiscal year.<ref>{{Cite web|url=https://tech.economictimes.indiatimes.com/news/internet/rupay-clocks-1-billion-transactions-pips-debit-cards-in-usage/70474669|title=RuPay clocks 1 billion transactions, pips debit cards in usage – ETtech|last=www.ETtech.com|website=ETtech.com|language=en|access-date=2 August 2019}}</ref> NPCI issued 591 million (59.1 Crore) RuPay cards till December 2019 of which 229 million (22.9 Crore) cards were used for ATM transactions and 100 million (10 Crore) on [[Point of sale|PoS terminals]]. RuPay card usage for both ATM and PoS transaction is topped by [[Maharashtra]] for the year 2019.<ref>{{Cite web|url=https://www.medianama.com/2020/03/223-300-million-rupay-issued-jan-dhan/|title=Almost 300 million RuPay cards have been issued to Jan Dhan account holders: Finance Minister|date=5 March 2020|website=MediaNama|language=en-US|access-date=12 March 2020}}</ref>

During [[COVID-19 pandemic]], consumer usage of RuPay platform in India was hovering at 87% to 98% by spending volume above its foreign competitors Mastercard and Visa, which were at 70% to 86% due to reduction in discretionary spending as of March 2020.<ref>{{Cite web|url=https://www.ciol.com/indian-ecommerce-sees-a-drastic-30-decline-during-janata-curfew/|title=Indian eCommerce sees a drastic 30% decline during Janata Curfew|date=8 April 2020|website=CIOL|language=en-US|access-date=8 April 2020}}</ref>

== Jan Dhan Yojana ==
RuPay cards got a major boost through the [[Pradhan Mantri Jan Dhan Yojana]] they were issued to all Jan Dhan account holders.

Until June 2018, 242 million (24.2 Crore) RuPay Debit Cards were issued under the [[Pradhan Mantri Jan Dhan Yojana|Jan Dhan Yojana]] against the 925 million (92.5 Crore) debit cards issued by the banking industry. The [[NPCI]] held consultations with small finance bank licensees on the use of RuPay cards and is set to emerge as the dominant debit card with small finance banks.<ref name="Business Standard">{{cite news|url=http://www.business-standard.com/article/finance/rupay-debit-cards-to-gain-from-small-finance-banks-116090500593_1.html|title=RuPay debit cards to gain from small finance banks|date=5 September 2016|work=Business Standard|access-date=17 September 2016}}</ref>

Due to [[Digital India]] initiative and [[JAM Yojana|JAM]] trinity, the number of RuPay card in 2016 was less than half at 230 million (23 Crores) which later surged to 560 million (56 Crores) as of November 2018. In 2013 ATM transactions constituted 90% of the total number and 95% of the total value. In 2018, PoS transactions have expanded to cover 30% of the total number and 10% of the total value of debit card transactions.{{citation needed|date=September 2020}} Till January 2020, ~30 crore (298.6 million) Jan Dhan Yojna account holders were issues RuPay debit cards. With 81% operational Jan Dhan Yojana accounts, 29.14 crore (291.4 million) RuPay debit cards are issued as of 19 February 2020 which is 76% of holders.<ref>{{Cite web|url=https://www.thehindubusinessline.com/money-and-banking/now-76-of-jan-dhan-ac-holders-have-rupay-debit-cards/article30931285.ece|title=Now, 76% of Jan Dhan a/c holders have RuPay debit cards|last=Surabhi|website=@businessline|language=en|access-date=29 February 2020}}</ref>

== Initiative for farmers ==
[[File:Rupay Card Issued by Uttar Bihar Gramin Bank.jpg|thumb|[[Regional Rural Bank]] Card ]]RuPay also provides a unified "Kisan card", issued by banks across the country as the [[Kisan Credit Card]], enabling farmers to transact business on ATMs and PoS terminals.<ref name="PBR">{{cite web|url=http://www.pbr.co.in/2014/2014_month/August/editorial.pdf|title=RuPay: A New Indian Payment System|website=Pacific Business Review International|publisher=Pacific Business Review International|access-date=17 September 2016}}</ref>

PUNGRAIN (Punjab Grains Procurement Corporation Ltd) pays commission agents through the RuPay Debit Card and developed a commission agent network called the Kisan Arhtia Information and Remittance Online Network (KAIRON) with the help of the [[National Payments Corporation of India]].<ref>{{Cite news|url=https://economictimes.indiatimes.com/news/politics-and-nation/punjab-government-to-make-online-payment-to-commission-agents/articleshow/19306810.cms|title=Punjab government to make online payment to commission agents|date=31 March 2013|work=The Economic Times|access-date=3 September 2019}}</ref><ref>{{cite web|url=http://www.indianexpress.com/news/wheat-procurement-begins-today-arthias-to-get-payments-online/1095903/|title=Wheat procurement begins today, Arthias to get payments online|date=1 April 2013|work=The Indian Express|access-date=9 February 2014}}</ref><ref>{{cite web|url=http://www.thehindubusinessline.com/news/states/punjab-govt-to-make-online-payment-to-commission-agents/article4567083.ece|title=Punjab govt to make online payment to commission agents | Business Line|author=Chandigarh|first=PTI|date=31 March 2013|work=Business Line|access-date=9 February 2014}}</ref>

[[Kotak Mahindra Bank]], in partnership with RuPay, rolled out an initiative for financial inclusion, where the dairy farmers across 75 cooperative societies of [[Amul]] in regions of [[Bardhaman|Burdwan]] and [[Hooghly district|Hooghly]] of [[West Bengal]] will be able to get their payments directly into their accounts on the same day as the sale of their milk.<ref name="hindubusinessline">{{cite web|url=http://www.thehindubusinessline.com/news/states/kotak-bank-rolls-out-financial-inclusion-plan-for-amul-workers/article5470759.ece|title=Kotak Bank rolls out financial inclusion plan for Amul workers | Business Line|date=17 December 2013|work=Business Line|access-date=9 February 2014}}</ref>

The same model is planned to be adopted in the state of [[Gujarat]] where 1200 cooperative societies comprising over {{formatnum:300000}} dairy farmers will be the part of the programme.<ref>{{Cite web|url=https://www.microcapital.org/microcapital-brief-kotak-mahindra-bank-launches-financial-inclusion-programme-for-amul-milk-cooperative-members-in-west-bengal-india/|title=MICROCAPITAL BRIEF: Kotak Mahindra Bank Launches Financial Inclusion Programme for Amul Milk-Cooperative Members in West Bengal, India|last=Koul|first=Nisha|date=15 January 2014|website=MicroCapital|language=en-US|access-date=3 September 2019}}</ref>

In 2017 post demonetisation, the [[Government of India|government]] decided that [[National Bank for Agriculture and Rural Development|NABARD]] will co-ordinate the conversion of operative/live Kisaan Credit Cards into RuPay ATM cum Debit Kisaan Credit Cards by Cooperative Banks and Regional Rural Banks on priority.<ref>{{Cite web|url=https://www.aninews.in/news/business/nabard-to-monitor-conversion-of-kisan-credit-cards-into-rupay-cards-on-mission-mode/|title=NABARD to monitor conversion of Kisan Credit Cards into RuPay Cards on mission mode|website=aninews.in|language=en|access-date=25 July 2019}}</ref>

== See also ==
* [[BharatQR]]
* [[Unified Payments Interface]]
* [[Google Pay]]

==References==
{{Reflist}}

==External links==
* [https://web.archive.org/web/20140208060225/http://www.npci.org.in/home.aspx NPCI]

{{Banking in India}}
{{Credit cards}}
{{Interbank networks}}
{{Portal bar|Banks}}
{{Authority control}}

[[Category:Financial services companies established in 2014]]
[[Category:Banking in India]]
[[Category:Credit card issuer associations]]
[[Category:Debit card issuer associations]]
[[Category:Interbank networks in India]]
[[Category:Payment and settlement systems in India]]
[[Category:Credit cards in India]]

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