Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card BYTES FROM OUR KITCHEN

    RuPay Credit Card

    Focusing on the need to integrate all retail payment systems under one umbrella, The Reserve Bank of India set up the Board for Payment and Settlement Systems in 2005, which eventually led to the formation of National Payments Corporation of India (NPCI). NPCI has been endorsed by RBI and currently has ten promoter banks namely, State Bank of India, Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union bank of India, ICICI Bank, HSBC, HDFC Bank, and Citibank.

    What is a RuPay Card?

    Representing a miniature India in itself, the name RuPay, has been coined from two separate words namely, “Ru” from the Indian Rupee and “Pay” from payments. The RuPay card was introduced by NPCI in accordance to RBI’s vision of setting up a domestic payment system in India, which will allow Indian financial institutions to facilitate electronic payments across the country. With major competitors like MasterCard and Visa, RuPay has been trying to establish a strong foothold in the international market and is accepted on the Discover payment network owing to NPCI’s collaboration with Discover Financial Services (DFS).

    How does a RuPay Card work?

    Any RuPay card offers customers enhanced security in the form of an embedded EMV chip enabling high value transactions to be done with complete protection. Additionally, RuPay cards also carry an inbuilt microprocessor circuit containing information about the card owner. RuPay cards can be used at over 145, 270 ATMs on the National Financial Switch network and purchases can be made at over 875,000 Point of Sale terminals across India. Customers can also use RuPay cards for online transactions and purchases at over 10,000 web portals. NPCI has formed tie-ups with 29 major banks to enable PIN based PoS transactions via RuPay cards across various merchant outlets in India.

    Benefits of using a RuPay Card:

    RuPay cards are still relatively new in the Indian market, but offer various benefits to card holders with superior customer service and higher levels of acceptance. NPCI offers RuPay cards at low processing fees along with instant SMS alerts for every transaction made by a customer.

    1) RuPay cards help save cost:

    Being a domestic payment system, all transactions will happen inside India leading to lower clearing and settlement cost for each and every transaction. Banks will benefit immensely from this as transaction costs will become very affordable, directly leading to increase in usage of RuPay cards across the country.

    2) Customised for Indian consumers:

    Made in India, for Indians! RuPay cards will be designed and manufactured to cater to the needs of Indians with maximum flexibility to customise the product and services offered.

    3) RuPay transactions are secure:

    Since all the card transactions take place within India, customers can rest assured that their personal information and data will remain inside the country, without the intervention of foreign organisations.

    4) RuPay cards enables banks to tap into new consumer segments:

    Financial institutions in India can use RuPay cards to introduce the electronic way of life to certain sections in India, where banking services are still unavailable. Rural areas will benefit from RuPay products as they are indigenous and also work to be very economical for banks planning to offer them to unexplored customer segments.

    5) Products and Payment channels brought closer:

    RuPay cards aim to connect various payment channels and products in India. Customers can access services like ATM services, banking transactions, e-banking services, requests for credit instruments, etc. using RuPay cards across different banking platforms.

    6) Online payments with RuPay are quick and safe:

    E-commerce transactions using RuPay cards can be done without any hassles and in a very secure manner. RuPay cards carry a two-tier authentication process as mandated by RBI, and offer protection against phishing and data logging. The online interface is also very user-friendly and processes card transactions at a very fast rate.

    Launch of RuPay Credit Cards:

    With RuPay debit cards having a successful run in the Indian market, NPCI has decided to launch RuPay credit cards in 2016. Anticipated to improve RuPay penetration in India, the organisation is of the thought that the credit cards will help tap into new segments across India. NPCI expects that the new RuPay credit card will rise to be a tough competitor for Visa or MasterCard services, which already have a well-established customer base in India. Currently, 13% of all transactions done at PoS terminals, ATMs and e-commerce websites are done using RuPay cards, with a steady rise in the number of transactions, every month.

    RuPay credit cards will also be launched in the global arena with tie-ups with foreign institutions under the name, RuPay International. NPCI recently announced that financial institutions like JCB from Japan have tied up with RuPay to enable overseas transactions and China Union Pay is now in talks with the organisation to establish a collaboration soon. RuPay will also be contributing to the e-banking segment by providing various platforms for mobile banking and internet banking and will also facilitate the growth of e-retail payments in India.

    RuPay Credit Cards FAQs:

    1. Does RuPay offer cards for agriculturists and farmers?

      Yes, RuPay has a Kisan card exclusively for farmers, enabling them to perform ATM and PoS transactions.

    2. Does RuPay charge any quarterly fee or joining fees for card holders in India?

      Unlike other payment channels, RuPay does not have a mandatory quarterly fee or joining fee to be paid by customers.

    3. What is the reach of a RuPay card with regards to the inclusion of member banks?

      RuPay has partnership with private sector banks, public banks and rural as well co-operative banks. This is a huge advantage for RuPay customers as the reach of a RuPay card is quite high with tie-ups even with smaller banks across India.

    4. Can RuPay cards be used for international transactions?

      Yes, RuPay cards can be used for cashless transactions anywhere across the globe.

    RuPay Credit Card Reviews

    • ICICI Bank Credit Card
      "Good application but need improvement"
      0.5 3.5/5 "Pretty good"
      I don't have good experience with ICICI, anyway the I mobile app is easy to do fund transfer and other service and if I place the request for cheque book immediately processed it. However some time the service get hang , they need to develop on that part.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 14, 2019
    • SBI Cards Credit Card
      "Good for air port lounges"
      0.5 4.5/5 "Excellent!"
      The SBI card is good, I used to get air lounges in the air port and they issue good credit limit based on the customer profile, but they don't have any cash back. The customer support is also not good they need to improvement however card features is good and charges are nominal.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Good card and best to use"
      0.5 5.0/5 "Blown Away!"
      I am very much happy with the HDFC service and am using the credit card for one year. It is Money Back visa credit card. They are providing cash back offers, it depends up on the transactions. I have converted the out standing payments into EMI and charges are reasonable.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • ICICI Bank Credit Card
      "Good"
      0.5 3.0/5 "Satisfactory"
      The redemption of reward points are very less and the product they are offering for the points which was high. I am not able to purchase the product on those points. I have no issues with the customer support. The rate of interest is average. I need to spend a lot to accumulate the 10% discounts for shopping.
      Was this review helpful? 0
      , mohali
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Offers are average"
      0.5 4.0/5 "Great!"
      I am not satisfied with the benefits and have been using the credit card for more than 10 years. The credit limit is good. The charges are more for the credit card. I am able to manage the account online. I can do the payment into their app and net banking. I have taken flexi pay and charges are high since I don't use.
      Was this review helpful? 1
      , mohali
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Okay"
      0.5 3.5/5 "Pretty good"
      HDFC credit card is good in between some of the period I did not use the card much. I cannot convert the payment into EMI and it does not have that option. The service wise they are good and no issues. Its a zero fee card, reward points are there other than there was no much offers.
      Was this review helpful? 1
      , hosur
      Reviewed on Jan 14, 2019
    • SBI Cards Credit Card
      "Best card"
      0.5 4.5/5 "Excellent!"
      SBI is doing good service and the offers. It has Flexi pay option and reward points can be redeemed easily. Am much satisfied with SBI and using it for 3 years. Annual charge will be waived off If I use to certain limit. The credit limit was enough to me.
      Was this review helpful? 1
      , hosur
      Reviewed on Jan 14, 2019
    • ICICI Bank Credit Card
      "Can do Better"
      0.5 3.0/5 "Satisfactory"
      In ICICI bank, they were already collecting the interest rate for swiping the card, again in the bill they were adding one more charges its not upto the mark. Its a normal card with other benefits but still I think it has the annual fee around Rs. 500.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Good service and need to reduce the interest "
      0.5 4.0/5 "Great!"
      The charges are very high on HDFC credit card which is around 10 to 11% some cases its 12%. I am using the card for 5 to 6 years and after 2 years they have enhanced the credit limit. They are charging annual fee and I don't know the figure. The online service is good and am not satisfied with the customer center, only Chennai office is doing good response.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • Punjab National Bank Credit Card
      "Good card"
      0.5 4.5/5 "Excellent!"
      There was no issues on the credit card experience. The customer service was very fine. I have been using Punjab National Bank card for around 10 years. I use it only for shopping and there was no offers, its just a basic card. I can covert the payment into EMI and the charges are minimal which is 3%.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Dissatisfactory Experience"
      0.5 1.0/5 "Really Bad"
      My HDFC credit card experience is not upto the mark, I have activated the auto debit option. My due date falls on 24 of every month, but one day my salary credited got delayed on that same days. Hence they charged Rs. 500, however within few hours my salary got credited in my account but still they didn't give waiver. I am using this account for past 4 to 5 years its good.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 14, 2019
    • HSBC Bank Credit Card
      "Good to hold"
      0.5 5.0/5 "Blown Away!"
      I do have a HSBC credit card and they are great in service and the offers. But the accessibility is bit less but still online banking and the customer service support is good. The credit limit was good amount. It is a life time free credit card. I am having HSBC Gold card and its almost 10 years.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 14, 2019
    • ICICI Bank Credit Card
      "Need to improve"
      0.5 4.0/5 "Great!"
      I am having Coral card and using it almost 5 years, Still am not sure about the benefits. It was fine for the basic purpose. The credit limit needs to be better. There is no annual fee. I have contacted the helpline number and it takes bit longer to connect with the representative. There is no hidden charges so far.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Convenient to use"
      0.5 5.0/5 "Blown Away!"
      I do have a credit card with HDFC Bank and its been 3 years now. I am happy with the offers and the credit limit. The customer service is very good. There is no hidden charges. The late payments are also nominal and I can convert the payments into EMI. Most I like it on the card is I can convert the reward points into cash.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 14, 2019
    • Bank of Baroda Credit Card
      "Reminder alert should be implement"
      0.5 3.5/5 "Pretty good"
      For the minimum amount due the interest rate is good around 14% in Bank of Baroda credit card, the customer service is good. But there was no message or calls from the bank end about the billing details. My due date 20 days, because of non reminder I just missed my payment. However the credit limit is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 14, 2019
    • IndusInd Bank Credit Card
      "Need lots of improvement"
      0.5 2.0/5 "Expected more"
      I closed the Indusind credit card because the transactions and other charges are very high. The customer service is average for the minimum balance due they have high interest rate around 44% its not fine for me. Therefore I closed my credit card.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 14, 2019
    • HDFC Bank Credit Card
      "Good Card"
      0.5 3.5/5 "Pretty good"
      I hold a HDFC credit card and i have just started using it. I have got a good limit on my card. Its a free life time card with no annual charges. I am getting offer related messages and i am yet to experience the offers. Hope HDFC will serve better..
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 13, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was the first time experience i had with the services of Bank Bazaar and they had been making a good follow up from starting after i had applied my credit card through them. I had been using the website of them which has been convenient and the process through them was quick.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 13, 2019
    • Citibank Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had chosen to go with this card since it was better card compared with the other cards. The process in getting this card has been simple and there has not been any delay in getting this card. The credit limit with this card was quite less than expected and there is some annual charges with this card which will get waved off as per the usage.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 13, 2019
    • Bank Bazaar Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It was a good experience i had with the services of Bank Bazaar where i had been using the services of them for a while. I had used their web portal which has been convenient and has been easy in using. Their customer support team had also been helpful and has been responsive as well.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 13, 2019
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.