Why Rupay Card for India

5 Pages Posted: 6 Sep 2017

See all articles by Dr.Dinesh Kumar Gupta

Dr.Dinesh Kumar Gupta

Guru Jambheshwar University of Science and Technology - Department of Business Management

Date Written: September 3, 2017

Abstract

RuPay card is India’s answer to the two most dominant market transaction processing players in the world. India is now the sixth country in the world to have domestic payment gateway system. Other five countries are US, Japan, China, Singapore and Brazil. Having our own domestic card payment network which helps in electronic money transfers will help both banks (between 200-250 member banks) and consumers. It should be a matter of pride in using an Indian card. By using this card, you contribute to revenue maximization of India by every transaction and help in prevention of draining out of Indian money abroad. Thus every user is also contributing in helping balance of trade.

Keywords: Rupay card, domestic payment gateway, drainage

Suggested Citation

Gupta, Dr.Dinesh Kumar, Why Rupay Card for India (September 3, 2017). Available at SSRN: https://ssrn.com/abstract=3031327 or http://dx.doi.org/10.2139/ssrn.3031327

Dr.Dinesh Kumar Gupta (Contact Author)

Guru Jambheshwar University of Science and Technology - Department of Business Management ( email )

hisar, haryana 125001
India

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