Banking news in India
What is RuPay Card?
RuPay name is derived from the words ‘Rupee’ and ‘Payment’. “RuPay” is also the name
of the Indian currency in Hindi. The RuPay card is introduced by NPCI in order to tap into the tremendous
growth witnessed by cards.
As you have heard name Visa or Master. There are foreign companies. The functionality of the RuPay card has been designed, to enables banks, to reduce the costs of cash, cheque and manual processes. It also aids in convincing customers to
access their funds at channels like POS and ATMs by using the most accessed channel – the branch.
You can use RuPay card for ATM transaction, online shopping and also you may get cash back.
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You can use this card for purchase. RuPay debit card can be used by cardholders for any purchase transactions across Merchant
Establishments. You casn transfer fund also through ATM or other channels. Money can be transferred
from one card to another card through ATM or any other channel. Cardholders can use their RuPay debit cards to withdraw instant cash at POS terminals subject to limit prescribed by RBI regulation.
ATM Cash withdrawals/PIN change or Balance enquiry:
RuPay cardholders will enjoy the facilities of withdrawing cash from any ATM across the
country with the help of NPCI’s card network. PIN change facility will be offered to cardholders across all issuer ATMs.
RuPay cardholder can check its account balance at any ATM location in India