What is the RuPay Card? Important things to know about RuPay Card: RuPay is one of the best popular Payment Gateway System. RuPay Payment Gateway has been made in India. The RuPay payment system is currently used almost all banks in India. RuPay has many advantages, For example, you can use this RuPay card instead of International Payment Gateway Visa and Master Card.
After the announcement of Lucky Grahak Yojana and Digidhan Vyapar Yojana, the RuPay Debit Card became a topic of discussion. Most of the rewards (about 80%) are given to those who pay through RuPay Card. You must have seen the Debit Card given under Jan Dhan Yojana is also Rupay Card.
What is RuPay Card
RuPay Visa is a Payment Gateway like visa, Master, Maestro. Payment Gateway facilitates money transfer between banks, accounts and all other banking channels. It is because of Payment Gateway that we are able to use ATM machine and Swipe machine of any other bank. Even our payment card works in other countries only because of Payment Gateway.
RuPay is formed by combining the two words Rupee and Payment. Like other international cards like Visa / Master, it can also be used for ATM transactions, POS and Online Site.
The National Payments Corporation of India / National Payments Corporation of India (NPCI) launched this card on 26 March 2012. You should know that NPCI is like an umbrella organization for all types of retail payments systems in India. Provides payment through IMPS, UPI, USSD and AEPS. All major banks in India have jointly established this organization.
Where you can use RuPay Card
You can use RuPay Card at various places, for example, your bank will provide you rupee card, you just need to fill a simple form and submit it to your bank. Your RuPaycard will be delivered at your address.
Using RuPay Card you can do the following:
For ATM transactions:
Your RuPay Debit Card enables you to withdraw money from an ATM. You can withdraw money at any time, regardless of the bank, whether it is open or closed. In India, you can withdraw up to Rs 40,000 a day. This is a common debit card limit. If you have a high-value card, you can use it to withdraw 1 lakh rupees per day. The bank sets the withdrawal limit so it can be different. Through ATM you can know your bank balance and a Mini You can also get a statement.
For payment at stores:
You can also pay for a product or service using your RuPay Card. You can use this facility at the shops where the POS Machine is available. This machine is used to get data from your card. It pays the shopkeeper immediately. You will also get a receipt for this payment.
For Online Payment:
RuPay Card can be used for web or online shopping and payment transaction. For online shopping purpose, you need to give your details which you gave in your the bank. It contains 16 digits long Card Number, Validity date and CVV code Number. Also, you make a secure transaction by entering ATM PIN or 3D Secure PIN.
RuPay Card Widening
Within a short span of 4 years, this card has captured a large market. After the note ban in India, transactions from RuPay have increased 7 times. There is around 30 crore RuPay Cards in India out of which 20 crore cards have been linked to Jan Dhan accounts. Every day more than 10 lakh transactions are done with RuPay Debit Cards.
On a global scale :
NPCI has a tie-up with Discover Financial Services (DFS), an American card issuing company. Because of this RuPay Card is accepted on Discover & Dinner PoS and ATM Network of all over the world. There are more than 2.5 million merchants of DFS worldwide. Which makes RuPay a global card.
An alliance has been formed between NPCI and Japan Credit Bureau International (JCBI). Due to which, JCB cards will be accepted at all PoS Terminal and ATMs in India. And also it will be accepted in NPCI member bank as well. They can issue RuPay / JCBCard which will be accepted on all PoS Terminal in JCB Network worldwide.
A deal has also signed between China’s Union Pay and NPCI. Therefore CUP card will be accepted on all RuPay PoS Terminal in India.
RuPay is cheaper
Unlike Visa and Master Card, there is no charge for joining the RuPay Payment Scheme. This is proving to be a boon for cooperative banks. Due to the least cost, they are able to issue RuPayCard. Now 27 public sector banks, 13 private sector banks and more than 250 cooperative and rural banks are issuing RuPayCard.
Security of RuPay Card
RuPayCard uses high-end technology EMV chip, especially for high-end transactions. Actually, it was quite easy for criminals to clone the magnetic stripe of the card. They could use it to steal information stored in a magnetic stripe. With Chip and Pin Card it becomes very difficult to clone RuPay. Therefore, the chance of fraud through this Card is less.
Data of customers and transactions will not go out of the country. This also makes this Card safe.
SMS Alert will be send to the user for every transaction done through this card.
NPCI has partnered with Acculynk to provide secure encryption and authenticated consumer PIN to all its customers for e-commerce purchases under RuPay PaySecure.
Benefits of RuPay Debit Card
Cashback on Utility Bill Payment:
You can get Cashback for payment of electricity, water and gas, & Utility Bill.
You can get 5% or 50 ₹ Cashback on payment Platinum Debit Card.
These types of cashback services are limited for those registered as MCC (Merchant Category Codes) by NPCI.
Fuel Surcharge Waiver:
When you buy petrol using it’s Platinum Debit Card, you will get a Cashback of Fuel Surcharge.
To avail this offer, you have to buy fuel of more than 300 rupees.
Cashback will give at 0.75% on fuel surcharge.
The fuel surcharge cashback will give at the end of the month and it will not exceed Rs 75.
Cash Back on Railway Ticket Booking:
If you book your railway tickets through www.irctc.co.in using RuPay Platinum Debit Card, you will get cashback on your transaction.
Every user will be eligible for this cashback on only one transaction.
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