> Regarding credit cards, very few Visa and Mastercard are credit, especially in Europe. I am sure the same is true in India too - most are debit cards. The mo

> Regarding credit cards, very few Visa and Mastercard are credit, especially in Europe. I am sure the same is true in India too - most are debit cards. The monopoly, the high fees they charged and the profit ending up in a foreign country was the reason that the indian government launched their own payment and card system. Visa and Mastercard were forced to lower their fees to remain competitive. (And now they are complaining and lobbying the US government to pressurise India to ease their new laws regarding data storage in India).