RuPay to tap renew deals with Visa, Mastercard

  • The National Payments Corporation of India (NPCI) is looking at increased uptake of its RuPay debit cards among premium customers, as deals signed between banks and its global competitors Visa and Mastercard expire over the next few years.
  • Though RuPay controls 42 percent of the Indian debit card market, the share of its cards is only 16 per cent of total Point of Sale (PoS) and e-commerce transactions.
  • This is largely due to the fact that the majority of RuPay cards — around 220 million— are held by benefactors of the Jan Dhan Yojana scheme.
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