Financial Services
Can rupay pip visa, mastercard in credit cards? incentives to banks, global acceptance hold the key
08 Feb 2022
1 min read
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.