What is RuPay? RuPay Review, Features

RuPay is India's first global card payment network, providing electronic payment services to all Indian banks and financial institutions.

About RuPay

• RuPay is a product of the National Payments Corporation of India (NPCI) and is widely used in ATMs, POS devices and e-commerce websites across India.
• In 2009, the Reserve Bank of India asked the Indian Banks Association to create a non-profit payment solutions company that would design a unique payment card that would offer state-of-the-art technology. The technology would be secure, powerful, scalable, simple and cost-effective to meet the requirements of open, multilateral domestic payments. The card was tentatively called India Pay. After years of planning, the National Payments Corporation of India has finalized the name of the proposed card as Rupay.
• As of July 2018, RuPay cards are issued nationwide to savings and current account holders of more than 1,100 banks in India. Apart from major private sector and public sector banks, RuPay cards are also issued by cooperative banks (Scheduled Cooperative Banks, Regional Cooperative Banks, State Cooperative Banks, Urban Cooperative Banks) and Regional Rural Banks of India.