look news india
Credit Card: You must have heard about credit card and debit card, but have you ever seen RuPay card, Visa card and MasterCard written on it?
From September 2024, the Reserve Bank of India has given freedom to customers to choose the card. Customers can choose the card of their choice. While applying for a new credit card and renewing it, the customer will have the option to choose between Mastercard, RuPay or Visa. Whereas earlier the bank itself used to decide which network card you would 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. Whereas MasterCard is at second place in this list. Since Visa and MasterCard are foreign payment gateway companies, their facilities are available in almost every country. That means you can easily make payment anywhere with these two cards.
Low charges on Rupay card
RuPay Card is an Indian payment network card. This card was launched by National Payments Corporation of India (NPCI). RuPay card is active only in India, that is, only Indians can transact with it. However, it has lower service charges as compared to Visa and MasterCard.
RuPay Card does not charge any other service charge as compared to Visa and MasterCard. But there is a limit to the use of this card. If we talk about benefits, then if you do not do foreign transactions then RuPay card is better for you because with this you will save many types of service charges.