Market coverage 1
- India Rupee
RuPay is an electronic payment system in India, launched by the National Payments Corporation of India (NPCI) in 2012. It was created to provide a national alternative to international payment networks such as Visa and Mastercard, and to encourage the use of payment cards in rural areas and medium-sized cities.
RuPay cards are accepted at over one million point of sale terminals and over 30,000 automated teller machines (ATMs) in India. The payment system is also interoperable with the Visa and Mastercard networks, allowing RuPay cardholders to transact globally.
RuPay offers several types of cards, including debit cards, credit cards, and prepaid cards. RuPay cards are generally cheaper than Visa and Mastercard cards, making them more accessible to low-income consumers.
Additionally, the RuPay payment system is also used for online payments, mobile payments, and fund transfers between bank accounts. The Indian government has also encouraged the use of RuPay as part of its “Digital India” initiative to promote the use of digital technologies in the Indian economy.