India’s digital payment ecosystem is constantly changing. Now, the method of payment is not limited to just debit cards or wallets, but the integration of credit cards and UPI is taking people towards a new experience. At the forefront of this is India’s indigenous card network Rupay, which has made a strong hold in the market due to its easy integration and low fees.
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Increasing share of Rupay credit card
The latest figures confirm that about 16 percent of the total credit card expenditure in India is now done through the Rupay credit card. The special thing is that about half of these transactions are being done directly through UPI. This change is taking India to a new level of digital economy.
Strength of the indigenous network
Rupay card was launched by the National Payments Corporation of India (NPCI). This network is completely made in India, and today it is giving tough competition to international networks like Visa and MasterCard. Indian consumers are considering it not only a cheap but also a convenient option.
Beneficial for shopkeepers
The biggest attraction of the RuPay card is its low processing fee. While Visa and MasterCard charge 1 to 3 percent, on RuPay, it is only between 0.45 to 0.9 percent. This directly benefits shopkeepers and small traders because their cost is low, and the customer also gets the benefit of good discounts and savings.
Great coordination with UPI
The most special thing about the RuPay card is that it is the only credit card network that provides payment facility through UPI. Customers can easily use the credit card with their simple UPI QR code. This not only increases convenience, but people are also able to take advantage of cashback and offers. This feature is especially attracting the young generation and digital payment users.
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Prospects
The reach of digital payments is increasing rapidly in India, and in such a situation, the combination of RuPay credit card and UPI is proving to be a game-changer in the market. This will not only reduce dependence on foreign networks but will also directly benefit both Indian consumers and merchants.