RuPay is an indigenous Indian card payment network launched by the National Payments Corporation of India (NPCI), designed to fulfill the vision of a domestic, open, and multilateral payment system.
RuPay, a portmanteau of "Rupee" and "Payment," was launched in 2012 by the National Payments Corporation of India (NPCI). It was created to reduce India's reliance on international payment networks and provide a cost-effective domestic alternative.
A significant boost to RuPay's adoption came with the Pradhan Mantri Jan Dhan Yojana (PMJDY) in 2014, which issued RuPay cards to millions of new bank account holders. By 2017, RuPay had surpassed Visa in transaction volume in India.
In a game-changing move, the RBI allowed linking RuPay credit cards with the Unified Payments Interface (UPI) in 2022, enabling users to make credit card payments via QR codes, significantly boosting its market share and utility.
RuPay is the only credit card in India that can be linked with UPI apps like BHIM, Google Pay, and PhonePe, allowing for seamless QR code payments.
Transactions are processed domestically, resulting in lower processing fees for merchants and often lower or no annual fees for cardholders.
Cardholders access an extensive network of rewards and discounts across dining, shopping, and travel, specifically tailored for Indian consumers.
All transaction data is processed and stored within India, ensuring greater security and data sovereignty.
The entry-level variant designed for everyday users, focusing on essential functionality with low costs and basic rewards.
A mid-tier option offering enhanced benefits like airport lounge access, comprehensive insurance coverage, and more extensive merchant offers.
The premium tier for elite customers, featuring exclusive benefits such as complimentary spa sessions, golf programs, higher insurance coverage, and premium lifestyle perks.