Difference Between RuPay and Visa Cards

The name RuPay is derived from the national currency ‘Rupee’ and ‘Pay’, and is one of the most accepted payment services in India. It is a payment gateway launched by the National Payments Corporation of India Ltd (NPCIL). 

It was initiated by the Reserve Bank of India (RBI) as a multinational financial service. The aim of it is to establish a multilateral and domestic payment system. With a minimal cost, this gateway provides debit and credit cards to make payment systems more affordable to the lower section of India. 

RuPay partnered with JCB of Japan, Pulse and Union Pay of China, and Discover Financial Services of the US to ensure users can pay these merchants. 

The key features of a RuPay card include security and a convenient transaction facility. Here are some other features:

• RuPay cards are accepted all over India, and these cards are excellent for domestic transactions.

• RuPay cards offer quicker transaction times for domestic purchases since they are processed within India.

• One of the key advantages of RuPay cards is security. As RuPay operates on the Indian network, transactions are generally more secure and safer.

• RuPay provides services to Indian banks and financial institutions at no cost. This enables lower credit/debit card fees.

• These cards allow you to make transactions for purposes such as retail shopping, bill payments, e-commerce transactions, etc. You can even use them at the ATM for balance checks or cash withdrawals.

• RuPay provides rewards on specific UPI payments, where you can get coins on specific spending. They also provide other benefits such as offers on travel and dining with complimentary airport lounge access. 

• RuPay cards are specifically designed to meet the needs of Indian residents across the country.

Visa is a US-based card solutions and payment gateway system available in more than 200 countries and 14,500 global institutions. A Visa card helps you pay across visa networks globally and not just in India. 

You can receive a Visa card depending on the financial products offered by your bank, including prepaid, credit, or debit cards. Depending on the type of card your bank provides, you can also choose to get a Visa co-branded card. 

However, it has higher transaction fees compared to RuPay cards, as the transactions are processed outside India. Also, this lowers the transaction speed of this card compared to RuPay cards. Also, this card is more prevalent in tier-1 and 2 cities in India, unlike RuPay cards. 

One key benefit of holding a Visa credit card is that you can get global customer service assistance whenever you get stuck. You can also get exclusive rewards when using your Visa card. Some of its additional benefits include:

• You can get global customer care assistance anytime, anywhere. If your card is stuck or you face issues in any location globally, the 24*7 customer service will always help you. 

• Another benefit of a Visa credit card is that you can use this card to get money wherever you need. This card is capable of providing you money through 1.9 million ATMs in more than 200 countries.

• You can get additional security with a Visa card as it has several safety features. Some of them include three-digit security codes and verified card-related transactions.

• Other than these features, visa credit cards offer various rewards on credit card usage, such as free movie tickets, airport lounge access, and reward points.

• A Visa credit card allows you to make both domestic and international payments. If you're a frequent traveller, a Visa card is a great choice for global expenses.

The major difference between RuPay and Visa cards lie in processing time, processing fees, security, and acceptance. Refer to the table below to understand how these payment networks differ:

In the discussion between RuPay vs Visa, the better option depends on individual preferences and needs. For instance, if you travel domestically or internationally often or make transactions in other countries, the Visa card could be the suitable one for you. Visa also offers wider global acceptance, making it ideal for international use.

However, if you need to manage transactions within India with low fees and fast processing, the RuPay card could be a good choice. It’s cost-effective for domestic use and supports faster local transactions, making it a great option for those who primarily stay in India.