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RuPay Credit Card

RuPay Card

Last Updated 27th Jan 2022

  • RuPay is an amalgamation of two words ‘Rupee’ and ‘Payment’ and is a payment network card accepted domestically in India.
  • RuPay card was launched on 26 March 2012 by the National Payments Corporation of India (NPCI).
  • An EMV chip is embedded in a Rupay card which ensures security.
  • RuPay offers a Rupay debit card and Rupay credit card.
  • Rupay credit cards are of 3 types, i.e. Rupay Classic Card, Rupay Platinum Credit Card and Rupay Select Card.
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What is a RuPay Card?

The word RuPay is coined from the word 'Rupee' and 'Payment'. RuPay card is the first domestic card payment network in India. The card was launched in 2012 by the National Payments Corporation of India (NPCI). RuPay is not only a card, but it is also a payment network which is accepted all over the country, both in rural and urban areas. The card was developed in line with other payment cards like Visa, Mastercard and American Express; however, it has a lower processing cost and processing time when compared to others. RuPay card offers Rupay debit card, Rupay credit card and prepaid and contactless credit card. RuPay has collaborated with almost 600 international, regional and local banks across the country.

How Does a RuPay Card Work?

  • A RuPay card comes with an embedded EMV chip which ensures enhanced security of the cardholders.
  • The card also comes with an inbuilt microprocessor circuit which contains all the information about the cardholder.
  • The cardholders can use the card for transactions in ATMs which are set up by the National Financial Switch network and sale terminals across India.
  • Now, the RuPay card is also accepted for online transactions at more than 10,000 web portals, and NPCI has partnered with 29 major banks to enable PIN-based PoS transactions via RuPay cards in India.

Types of RuPay Credit Cards

RuPay offers two types of credit cards, domestic credit card and international credit card.

  • Domestic credit card: It is a card which is used in India and is accepted at RuPay powered merchant terminals.
  • International credit card: International credit card is known as Rupay global card, which is issued in partnership with Discover Global Network. Currently, only 40 banks are issuing global network cards, and it is accepted in the USA, Sri Lanka, Singapore and many more countries.

Rupay Credit Card Variant

  • RuPay Classic Credit Card: This card comes with exclusive deals and offers at merchant terminals and online websites. The card is safe and secure to use as it prevents phishing. To make transactions more secure, the card comes with complimentary accidental insurance cover of up to ₹ 20 Lakh.
  • RuPay Platinum Credit Card: The card is made to make the daily life of individuals hassle-free. The card comes with welcome gifts, cashback and personal accident cover worth up to ₹ 20 Lakh. A cardholder can earn cashbacks on dining and utility bill payments. Also, individual will get 24*7 travel assistance.
  • RuPay Select Credit Card: This is a premium credit card offered by RuPay. The card offers a host of benefits like complimentary domestic and international lounge access, 5% cashback on ATM withdrawals and 10% cashback at merchant terminals, 24X7 concierge assistance for travel, entertainment and dining, free accident insurance cover worth ₹ 1 Cr.

Top RuPay Credit Cards

Some of the top Rupay Credit Cards are as follows:

  • IRCTC Rupay SBI Credit Card: SBI launched this Rupay credit card in partnership with Indian Railway Catering and Tourism Corporation (IRCTC). The card is loaded with an array of benefits.
    • Joining fees of ₹ 300 waived off till March 31, 2021.
    • Earn 10% cashback on booking tickets from IRCTC.
    • Fuel surcharge waiver.
    • Earn 1 reward point for every ₹ 150 spent.
  • HDFC Bharat Credit Card: This card is custom made for people who love to earn rewards and cashback. This credit card can be availed by first-time users also as the eligibility criteria are easy.
    • 5% cashback on railway bookings through IRCTC, grocery, fuel, bill payments and more.
    • A waiver on the 1% fuel surcharge.
    • Complimentary accidental death insurance.
  • PNB RuPay Select Credit Card: This PNB credit card is designed for the people who want to avail a low cost credit card. The card comes along with rewards and many more benefits.
    • Earn more than 300 points on the first transaction.
    • Complimentary access to international and domestic lounges.
    • Cashbacks on utility bills, grocery and many more.
  • Canara RuPay Select Credit Card: There are various credit cards offered by Canara Bank, and the card is efficiently designed to provide a 20-50 days interest-free repayment period.
    • Earn 2 reward points on every ₹ 100 spent.
    • Complimentary access to airport lounges.
    • Complimentary insurance worth up to ₹ 10 Lakh.
  • Union Bank RuPay Select Credit Card: Union Bank of India in association with NPCI launched Union Bank RuPay Select Credit Card. This card offers the following set of benefits:
    • Get 4 free lounge accesses.
    • Earn cashback on utility bills, mobile wallet transfer, and more.
    • Accident and air accident death insurance.
    • Earn 4 reward points on every ₹ 100 spent.

Where is Rupay Credit Cards Accepted?

  • Rupay credit cards can be used in ATMs, point of sale terminals, IVR and shopping websites etc.
  • Domestic Rupay credit cards are accepted at all retail terminals which are enabled with RuPay, ATMs and online websites.
  • International Rupay credit cards are accepted at all RuPay acceptance points in India and all ICS Partner acceptance points such as ATMs, retail terminals and online shopping websites.

RuPay Credit Card Offers 2020

Here are the latest offers on RuPay credit cards which are valid till March 31, 2021:-

Offers Detail
Udemy Earn Upto 10% Reward Points on the purchase of courses
Amazon Upto 10.4% Reward Points
Myntra Upto 7% Reward Points
Eazy Diner Prime Two months free subscription at ₹ 2
Lybrate Online Doctor Consultations and get flat 20% reward points
Flipkart Top Brand's Product at upto 70% off + Upto ₹ 1,050 Reward Points
The Man Company ₹ 250 off

Benefits of Using RuPay Cards

  • Lower cost involved: Rupay is a domestic card which means that the card is accepted only in India, which leads to lower cost of processing and transaction.
  • Customized product offering: The card ensures the development of customized product and service because it is a domestic product.
  • Information is protected: The information of a consumer is protected because all the transactions are done in the country, it remains in India only.
  • Card is economical: Rupay cards are more economical because Rupay products are rightly priced. The cards are also available for under-penetrated/untapped consumer segments in rural areas.
  • Inter-operability: NPCI offers various solutions which ensure complete inter-operability between various payment channels and products.
  • Insurance coverage: RuPay card holders are eligible for accidental death and permanent disability insurance cover. The classic cardholders can avail a cover of ₹ 2 Lakh, while premium cardholders can get an insurance of ₹ 2 Lakh.

FAQs

Which is a better Visa, Mastercard or RuPay?

Visa, Mastercard and RuPay, all three cards are good as they have their own advantages over others. However, Visa holds the number place in the payments network market. The Visa card has a much wider reach than others and Visa card offers exclusive benefits from time to time.

Which RuPay card is best?

HDFC Bharat Credit Card is the best Rupay credit card because it offers a plethora of benefits and account holders only have to pay ₹ 500 as an annual fee.

Can RuPay cards be used for international transactions?

Yes, RuPay Global cards with Discover, Diners and Pulse Network logos can be used across 185 countries.


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