Rise of a Digital Economy!

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Hello Friends!

What is the new trend in India?

No Money, No Worries! … Go Cashless!

Today, we Indians are moving from a cash based society to a cashless and digital society at a remarkable pace!

Swiping the debit or credit card is the new wave today rather than carrying a 2000 rupee note! By the way, do you know that there is a transaction fee associated with every transaction that we do through our debit and credit cards! Let us understand what these charges are for.

Primarily, no banks or entities provide any kind of financial networks. You must have noticed names like Mastercard, Visa Card, embossed on your card. These are the international companies which provide the financial networks. Well, when you get an ATM Card, the bank provides you with the facility of using these networks. The bank pays nominal charges for every transaction and gets it back from the merchant, thus making the foreign companies more rich after every transaction!

So what is to be done? Well there is a way out! Not many people know about the Rupay Card.

Well, what is RuPay?

RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India (NPCI). It was the Reserve Bank of India’s desire to have a domestic, open loop and multi lateral systems of payments in India and thus RuPay came into existence! RuPay is the Indian competitor for Master and Visa Cards.

RuPay is an Indian version so thus it is the portmanteau of the words Rupee and Payment! These cards got a major boost through the Pradhan Mantri Jan Dhan Yojana as RuPay cards were issued to the account holders.

Now you must be wondering that why should I switch to Rupay Card when I already have one Visa Card!

Well, it has got lot of advantages! The main advantage is that the transaction charges are minimal. More than that these charges will directly go to RBI & the most important thing is that the transactional data lies within the Indian servers. Isn’t it great?

So, next time when you apply or renew your card, make it a point that you opt for RuPay card. Let us take a step towards Better India!

Our small efforts can lead to a #BetterIndia!

More later!

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