The current online trasaction system does not allow the participation of all Indian banks & financial institutions in electronic payments.All we yearned for was a open loop,super-secure, multi-lateral sytem which would offer this inclusion. Kudos our very own Rupay...it offer much more!

Working towards enhancing the payment ecosystem in our country,Rupay is all set to support issuance of debit and prepaid cards by over 250 banks ,150 cooperative banks and Regional Rural Banks (RRBs) in India.RuPay functions across three channels  i.e ATMs, Point of Sales (POS) and online payments.    

Key Features:

 Faster Transaction Processing

Rupay offers simplified architecture & transaction flow thereby reducing transaction time, resulting in faster transaction processing and reduction in drop-outs.

 Security

Enhanced security measures are in place in addition to the RBI mandated 2-Factor authentication viz. registration, OTP, image based authentication and anti-phishing measures .Further the bank themed PIN pad shuffles as & when a digit is entered as an additional security measure.

 Contactless

The efficiency  of our innovative contactless payment option can be increased by employing Rupay.

Why Rupay Poses a threat to Visa & MasterCard?

 Lower cost and affordability :

Due to its domesticity, the cost of clearing and settlement  would be lower  This would make the transaction costs affordable & drive increased usage of Rupay cards.

 Customized product offering :

RuPay, being a domestic scheme is committed towards development of customized product and service offerings for Indian consumers.

 Security :

Transaction and customer data related to RuPay card transactions will reside in India.  

 Right pricing-Untapped consumer segment :

Our untapped rural consumers market who do not have access to banking and financial services can be tapped into through Rupay's right pricing. RuPay cards are more economically feasible for banks to offer to their customers. Relevant product variants such as Milk Card, Kisan Card& IRCTC cards would ensure that banks target the unexplored consumer segments. 

 Inter-operability between payment channels and products :

RuPay card is uniquely positioned to offer complete inter-operability between various payments channels and products. NPCI currently offers varied solutions across platforms including ATMs, mobile technology, cheques etc and is extremely well placed in nurturing RuPay cards across these platforms. 

 Truely Unique

Personal accident insurance and permanent disability cover of Rs one lakh is given to the cardholder.This unique feature is not available with any of the international cards Visa & MasterCard!