RuPay Credit Card

RuPay Credit Card	Annual Fee	Best Suited For
HDFC Bharat Credit Card	Rs.500	Cashback
IRCTC Rupay SBI Credit Card	Rs.500	Travel
PNB Rupay Select Credit Card	Rs.750	Cashback & Lounge Access
Union Bank RuPay Select Credit Card	Nil	Lounge Access
IDBI Winnings Credit Card	Rs.899	Rewards & Travel
Bank of India RuPay Platinum Credit Card	Communicated at the time of sourcing	Cashback
Canara RuPay Select Credit Card	Nil	Lounge Access

RuPay Credit Cards are currently available in 3 variants – RuPay Classic, RuPay Platinum, and RuPay Select. 

RuPay Classic	RuPay Platinum	RuPay Select
Personal Accident insurance and Permanent Disability cover upto Rs.1 Lakh	Personal Accident insurance and Permanent Disability cover up to Rs.2 lakh	Personal Accident Insurance and Permanent Disability Cover upto Rs.10 lakh

A RuPay card provides you enhanced security in the form of an embedded EMV chip enabling high-value transactions to be done with complete protection. They also have an inbuilt microprocessor circuit containing information about the card owner. 

The cards can be used at over 1.5 lakh ATMs on the National Financial Switch network and purchases can be made at over 8.75 lakh point of sale terminals across India.

RuPay credit cards can be used for both card-present transactions involving ATMs and point of sale terminals and card-not-present transactions such as online shopping websites, IVR, etc.

While the domestic RuPay credit cards are accepted at all RuPay enabled retail terminals, online websites and at all ATMs, international RuPay credit cards can be used at all RuPay acceptance points in India and all ICS Partner acceptance points such as ATMs, retail terminals and online shopping websites.

1. Made in India: It has specifically been designed keeping the Indian customer and banking needs in mind.

2. Cheaper: Since most of the transactions that happen in this system are domestic, the costs are bound to be lower. 

3. Access to Untapped Market Segments: Due to the wide accessibility of this system, it can be used in many sectors that still remain untouched. For instance, in rural areas, a lot of financial services remain out of reach for the farmers. RuPay cards include the Kisan card, which allows farmers to avail many financial benefits.

4. Better Security: Since all transactions take place inside the country, people who use this system can be assured that their personal financial information will remain safe and is not accessible by foreign parties.

5. Accessibility: The RuPay service is accessible across ATMs and other financial services such as online banking. This makes it a very accessible mode of payment. Also, over 600 banks including major private and public sector banks issue RuPay cards.

6. Wider Reach: There is a whole set of public and private banks that are issuing RuPay credit cards such as State Bank of India, Bank of India, Punjab National Bank, ICICI Bank and HDFC Bank, among others. Their large network of branches, ATMs and merchant partners ensure that people can use their RuPay credit cards anywhere across India.

7. Faster Transactions: Since all the transactions are happening within the country, the payments network works much faster.

8. No Entry Charges: With international services like VISA and MasterCard, banks have to pay an entry fee. This is not the case with the RuPay financial service. 

9. No Quarterly Fee: In the case of international services like VISA, banks have to pay a quarterly fee which will no longer be required in the case of RuPay.

10. Existing Account Holders can get RuPay Credit Card: Any individual who already has a savings account in a specified bank that provides RuPay cards can also easily avail a RuPay credit card.

Lack of Awareness

There is a lack of awareness among people about this financial system. As most of the transactions that take place in the country happen through VISA and MasterCard, people have become habitual to these financial systems. 

Credit Cards are Expensive

Putting all benefits aside, RuPay credit cards have the same rates of interest as all other Visa or MasterCard credit cards and as such, remain a high-cost debt. 

No International Recognition

Since MasterCard and Visa have been in business for a long time, they are internationally recognised and accepted. This is not the case with the RuPay financial service. 

Any one of the below-listed documents from each list is required to be submitted. Note that the card-issuing bank or NBFC may ask for additional documents as per their internal policies.

IDENTITY PROOF

Passport PAN card Voter’s Identity Card Driving License Job Card issued by NREGA duly signed by an officer of the State Govt The letter issued by the Unique Identification Authority of India (UIDAI) containing details of name, address and Aadhaar number (vii) Identity card (subject to the bank’s satisfaction) Letter from a recognized public authority or public servant verifying the identity and residence of the customer to the satisfaction of bank

ADDRESS PROOF

Telephone bill Bank account statement Letter from any recognized public authority Electricity bill Ration card Letter from employer (subject to satisfaction of the bank) A rent agreement indicating the address of the customer duly registered with State Government or similar registration authority. Income Proof (Salary Slip/Income Tax return)

*Other supporting documents as per bank’s policy

Basis of Difference	Visa	MasterCard	RuPay
Place of Origin	USA	USA	India
Acceptance	Worldwide	Worldwide	Within India
Processing and Verification	Outside India	Outside India	Within India
Contactless Payment	Visa payWave	PayPass	RuPay Contactless
Payment Processing Time	High	High	Low
Insurance Cover	On select cards	On select cards	On all cards
Fuel Surcharge Waiver	On select cards	On select cards	1% on all cards
Cashback on Utility Bills	Reward Points on most cards	Reward Points on most cards	Cashback up to a certain limit on all cards

Is RuPay credit card available in India?

RuPay Credit Cards are currently available in three variants – RuPay Classic, RuPay Platinum, and RuPay Select. RuPay Classic Credit Card: The card provides exclusive offers at merchant terminals in India and at online sites.

Which is better RuPay or Visa?

Transactions charges for transactions processed on Visa cards are slightly higher than RuPay cards. The government has popularised RuPay payment as part of its financial inclusion drive. Therefore, the processing fees on RuPay transactions is lesser compared to Visa cards.

Is RuPay accepted everywhere?

Like Visa and Mastercard, RuPay Credit Cards are also accepted at ATMs, POS devices and e-commerce websites across India. In addition, Rupay cards are also accepted internationally.

Is RuPay card safe?

RuPay is the first-of-its-kind domestic Debit and Credit Card payment network of India, with wide acceptance at ATMs, POS devices and e-commerce websites across India. It is a highly secure network that protects against anti-phishing.

What is the eligibility of availing RuPay Credit Card?

In order to avail any of the RuPay credit cards, the applicant must satisfy the conditions as prescribed by the Issuing bank.