Credit cards have become a regular part of how we manage our everyday spending. With so many options available, deciding which will best fit your needs can be difficult. Among these choices is the RuPay credit card, a relatively new but fast-growing option in digital payments. RuPay credit cards have gained much attention since their launch in 2017. They’re user-friendly, affordable, and carry a multitude of benefits. But what exactly sets a RuPay credit card apart from others?
Let’s understand what a RuPay credit card is and some of its key advantages.
What is a RuPay Credit Card?
RuPay is a domestic payment network introduced by the National Payments Corporation of India (NPCI) in 2012. Later, RuPay launched its credit card itself in 2017. The name RuPay is a combination of two words—’rupee’’ and ‘payment’—giving you an idea of its purpose. This payment network was India’s answer to reducing reliance on global networks like Visa and Mastercard. The whole idea was to create a homegrown, cost-effective, and reliable payment system.
A RuPay credit card works exactly like any other credit card. You can shop online, in stores, and internationally if your card supports it. These cards are designed with more focus on domestic use, keeping in mind the needs of Indian consumers. Now, let’s understand the benefits of using a RuPay credit card.
1. Wide Acceptance Across India
One of the best things about RuPay credit cards is that they’re accepted everywhere in India. You can count on your RuPay credit card to be accepted anywhere, whether shopping online, picking up groceries, or dining out. In fact, they are accepted at more than 60 million retail locations nationwide. This implies that you do not have to worry whether you are in a small town or a busy city.
2. Cost-Effective
Many credit cards often come with hidden fees that can surprise you. With RuPay credit cards, the fees are generally lower than international cards like Visa or Mastercard. This includes transaction fees, processing charges, and annual fees. If you’re looking for a card that doesn’t drain your pocket with unnecessary fees, RuPay credit can be a solid choice for you.
3. Promotes Financial Inclusion
RuPay credit cards are not only for wealthy individuals. One of the main goals behind their creation was to ensure that people from all walks of life, whether they’re from big cities or rural areas, have access to banking services. The affordability and availability of RuPay credit cards make them a tool for financial inclusion. They allow people to participate in digital payments who might otherwise be excluded from formal banking systems. This increases the number of people in the financial system and empowers them to manage their finances better.
4. Seamless UPI Integration
This is a big advantage for those who use UPI apps regularly. RuPay credit cards can be directly linked to UPI-enabled apps, which means you can make payments using your credit card without needing to swipe or even carry it. This adds another level of convenience for those who are used to making digital payments through apps like PhonePe, Paytm, etc. Whether you’re paying at a restaurant snack or sending money to a friend, having UPI integration with your credit card makes everything smoother.
5. Automated Bill Payments
Only a few people enjoy the headache of remembering to make timely bill payments. With a RuPay credit card, you can set up automated bill payments for utilities, subscriptions, or other recurring expenses. This not only saves time but also ensures that your bills are paid on time, helping you avoid late fees and penalties. It’s useful for people with hectic schedules who prefer a hands-off approach to managing their bills.
6. Global Acceptance
RuPay is mainly known for its use in India, but it also works internationally. RuPay has partnered with global networks like Discover, Diners Club, and Pulse, which means you can use your card at millions of merchant outlets and ATMs in over 185 countries.. This means the RuPay card is useful not just in India but worldwide. So, if you travel often or shop from international websites, a RuPay credit card can easily be used.
7. Insurance Coverage
One benefit you might not expect from a credit card is insurance coverage, but some RuPay cards come with it. Depending on your card, you might get complimentary insurance covering accidental death, hospitalisation, or liability for a lost card. It’s a feature you don’t see often with credit cards, and it adds a layer of protection that can bring you peace of mind. It’s always a good idea to check with your card issuer about the specific insurance benefits that come with your card.
8. Enhanced Security Features
Security is a top priority when it comes to digital payments, and RuPay credit cards offer robust protection. RuPay credit cards have advanced security features like EMV chip technology, two-factor authentication (2FA), and real-time SMS alerts for every transaction. These features ensure that your card is secure whether you’re shopping online or at a physical store. With these layers of protection, you can feel more confident knowing your money is safe from fraud and other threats.
9. Accessible to Rural Populations
RuPay cards were a key part of the government’s Jan Dhan Yojana initiative, aimed at providing financial services to underserved populations. This means that people in rural areas, who may not have easy access to banking, can get RuPay cards to help them manage their finances. And because these cards come with low fees and are widely accepted, they’re a perfect fit for people in rural regions who are new to the formal banking system. This makes RuPay cards a tool for bridging the financial gap between urban and rural India.
10. Supports Multiple Banking Partners
No matter which bank you prefer, there’s a good chance they offer a RuPay credit card. From large public sector banks to smaller cooperative banks, RuPay credit cards are available through a wide range of financial institutions across the country. This means you’re not limited to a single bank when choosing a RuPay card. Whether you bank with a national giant or a local cooperative, you can enjoy the benefits of a RuPay credit card.
Conclusion
RuPay credit cards have quickly become a popular choice for many Indians, and it’s easy to see why. They offer everything you could need in a credit card – from affordability to convenience, and even extra perks like enhanced security. Whether you’re paying for daily expenses or making a big purchase, a RuPay credit card has got you covered.
Plus, with their wide acceptance across India and growing international reach, RuPay cards are practical and versatile. They’re designed with the Indian consumer in mind, offering features that make managing your finances easier and more affordable.
If you’re looking for a card that’s reliable, cost-effective, and fits your lifestyle, a RuPay credit card could be just what you need.
Frequently Asked Questions (FAQs)
Can RuPay credit cards be used internationally?
Yes, RuPay Global credit cards are accepted at international merchant locations and ATMs through networks like Discover and Diners Club.
Do RuPay credit cards have any joining fees?
Joining fees vary by card issuer, but many RuPay credit cards have minimal fees and even introductory offers like cashback.
How do I link a RuPay credit card to a UPI app?
You can easily link your RuPay credit card to UPI-enabled apps by following the app’s instructions for adding a credit card.
Can I get a RuPay credit card from any bank?
RuPay credit cards are widely available across multiple banks in India, including public sector, private, rural, and cooperative banks. Kiwi also provides Rupay Credit Card with wide range of Benifits.
Does RuPay offer insurance coverage on its credit cards?
Depending on the card issuer, some RuPay credit cards come with insurance coverage, such as accidental death or hospitalisation.
