Credit Card Debit Card: Visa, MasterCard and Rupay are all payment network companies. These companies provide cashless payment facility through cards. Rupay Card is an Indian company.
Credit Card: You must have heard about credit card and debit card. But have you ever noticed RuPay card, Visa card and MasterCard written on it?
From September 2024, the Reserve Bank of India has given customers the freedom to choose the card. Customers can choose the card of their choice. The customer will have the facility to choose MasterCard, RuPay or Visa while applying for a new credit card and while renewing it. Whereas earlier the bank itself used to decide which network’s card you will get.
What is the difference between the three cards?
Visa, MasterCard and Rupay are all payment network companies. These companies provide cashless payment facility through cards. Rupay card is an Indian company. It provides payment facility with all Indian banks and finance companies.
On the other hand, Visa and MasterCard are foreign payment network companies. Visa is the world’s largest payment network. While MasterCard is at number two in this list. Since Visa and MasterCard are foreign payment gateway companies, their facility is available in almost every country. That is, you can easily make payment anywhere with these two cards.
Less charges on Rupay card
Rupay card is an Indian payment network card. This card was launched by the National Payments Corporation of India (NPCI). Rupay card is operational only in India, that is, only Indian transactions can be done with it. However, less service charge has to be paid on it as compared to Visa and MasterCard.
There is no other type of service charge in Rupay card as compared to Visa and MasterCard. But there is a limit on the use of this card. If we talk about the benefits, then if you do not do foreign transactions then Rupay card is better for you because you will be saved from many types of service charges.
