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It's actually broken by RuPay cards (Rupee+Pay not Russia+Pay) which is a direct alternative to visa/MasterCard. It has like 30% market share already. Few year
by cuteboy19 4y ago
It's actually broken by RuPay cards (Rupee+Pay not Russia+Pay) which is a direct alternative to visa/MasterCard. It has like 30% market share already.
Few years back the central bank realised that depending on a foreign company for such a basic thing might not be the best idea. And they were proven right with the Russia/SWIFT episode.
Interestingly both Visa and MasterCard are currently lobbying (bribing) with the US government against RuPay
- crossroadsguy 4y agoTrue. RuPay is exploding in rural areas. I like the ideas. Competition is good. However I wish Govt fixed UPI glitches like as of now UPI doesn’t fail/succeed decisively at the time of payment attempt (this often causes huge inconvenience and sometimes monetary losses) and they must bring chargeback option to UPI.