Financial Services
Can RuPay pip Visa, Mastercard in credit cards? Incentives to banks, global acceptance hold the key
08 Feb 2022
When National Payments Corporation of India (NPCI) launched RuPay in March 2012, the Atmanirbhar theme was loud and clear. The idea was to establish a domestic, open, and multilateral system for a card-payments infrastructure, which was thus far dependent on foreign technology. In the years that followed, public-sector banks (PSBs) were prodded to play along and RuPay debit cards managed to corner 35% market share within a short time.

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