RuPay Credit Card

RuPay is India’s pioneering global card payment network and boasts widespread acceptance nationwide. Since their launch, the RuPay credit card has been embraced by most of the banking institutions in the country. With an embedded chip that enables transactions to be carried out securely, the credit cards can be used to online and offline via Point of Sale (PoS) machines. 

The term ‘RuPay’ was coined by merging two words – Rupee and Payment. RuPay is India’s indigenous endeavour for card payments. Similar to MasterCard and Visa, RuPay does not function as a standalone card. Instead, it operates as a payment network that allows banks and credit card issuers to issue debit and credit cards. Three variants of RuPay credit cards are available in India - the RuPay Classic card, RuPay Select card, and RuPay Platinum card. 

The RBI has proposed to link credit cards to UPI. RuPay, being a brainchild of the government-run NPCI, will be among the first card networks to integrate this functionality.

 

This will allow you to link your account with UPI with a RuPay credit card and make transactions seamless and convenient. This will expand your payment options considerably. 

 

However, it should be noted that this is not operational yet. It will be possible only after all systems have been developed efficiently.

RuPay credit card comes with an in-built microprocessor circuit that holds your information.  

 

These cards, developed by the NPCI, have an embedded EMV chip. This chip allows you to make all transactions of high or low value with absolute protection. 

 

This makes RuPay debit and credit cards exceptionally secure. RuPay, India’s homegrown card payment network, can be used at more than 1.5 Lakhs ATMs that operate on the National Financial Switch network. 

 

Moreover, you can swipe your RuPay card at more than 8.75 Lakh sale terminals all over the country to directly make a purchase.

 

The RuPay credit card can also pay for products and services at over 10,000 web portals and websites. The NPCI has partnered with 29 of the biggest banks in India to allow PIN-based point-of-sale transactions at merchant outlets all over the country. 

You can choose the RuPay credit card in three variants. 

These include:

• RuPay Classic

• RuPay Select

• RuPay Platinum 

 

Read on to learn more about each variant.

 

1. RuPay Classic Credit Card: This card by RuPay comes with some exclusive offers at a number of merchant terminals as well as online websites, such as:

• Personal accident insurance and permanent disability cover up to ₹1 Lakh

• Secured payments to avoid phishing attempts

• Exclusive merchant advantages

 

2. RuPay Select Credit Card: This variant of RuPay credit cards is designed for frequent travellers. RuPay Select Credit Card comes with a number of exciting lifestyle benefits, including: 

• Exclusive offers from partner brands

• Complimentary airport lounge access

• Concierge services for dining out, travel, and entertainment 

• Access to accident insurance coverage of ₹10 Lakhs

• Free workout and meditation sessions at home and 15/30 days of a gym membership

 

3. RuPay Platinum Credit Card: The RuPay Platinum Credit Card has a range of welcome gifts from many brands. It also offers the following:

• Cashback on utility bill payments and dining

• Round-the-clock concierge assistance for travellers

• Exclusive merchant offers from partner brands and stores

• Personal accident cover of ₹2 Lakhs

Many leading banks in India are currently offering RuPay credit cards. Here’s a table outlining some of the best RuPay credit cards that you can consider applying for. 

A RuPay credit card can be accepted for transactions at following payment destinations: 

• ATMs 

• Point-of-sale terminals

• Online shopping portals 

• IVR

 

Note that an international RuPay credit card can be used at domestic points of acceptance (within India) along with ICS partner acceptance points. These include: 

• Several international ATMs

• Online shopping portals

• Retail terminals

The RBI has proposed to link credit cards to UPI. RuPay, being a brainchild of the government-run NPCI, will be among the first card networks to integrate this functionality.

 

This will allow you to link your account with UPI with a RuPay credit card and make transactions seamless and convenient. This will expand your payment options considerably. 

 

However, it should be noted that this is not operational yet. It will be possible only after all systems have been developed efficiently.

RuPay credit cards come with their own set of features and benefits. Some benefits are offered by the payment processing network, while others are offered by the card issuing bank. Here’s a brief overview of some of the general features and benefits that RuPay credit cards generally offer.

• Exciting Rewards

Most credit cards issued in the RuPay network extend exciting rewards across categories. Rewards offered by RuPay credit cards can come as cashback or reward points. However, the reward rates may differ from card to card and can vary for different categories.

• Travel Benefits

The best RuPay credit cards offer exclusive travel benefits, such as complimentary domestic and international airport lounge access and discounts on flights and hotel bookings.

• Insurance Benefits

Select RuPay credit cards provide insurance benefits, such as complimentary air accident cover, personal accident cover, and card liability protection. You can also get travel-related insurance covers like coverage against the loss of baggage, tickets, passport, etc.

• Entertainment and Dining Benefits

Using RuPay credit cards, you can access deals and discounts on dining across multiple premium restaurants. Some of the entertainment benefits these credit cards offer include complimentary movie tickets, buy-one-get-one (BOGO) offers on movies, etc.

• Waivers

The best Rupay credit cards extend waivers, such as spend-based annual fee waivers and 1% fuel surcharge waivers on certain fuel transactions.

• Faster Transactions

All the transactions made using RuPay credit cards are processed domestically within the country. Hence, these transactions are typically faster than those made using Visa, MasterCard, and AmEx credit cards.

• Low Transaction Costs

NCPI is a not-for-profit organisation, and transactions made using these credit cards use the RuPay payment processing network. Hence, the overall cost to process the transaction is lower (by around 23%) than that of cards using international payment processing networks. Because of lower transaction costs, you can save more when you use RuPay credit cards to make payments.

• Safer Transactions

All credit cards offered by RuPay come with a built-in microchip and a two-factor authentication system for online payments. These security measures ensure that your transactions are always safe and secure.

The National Payments Corporation of India (NPCI) has partnered with international payment settlement networks such as Diners Club, Discover, Union Pay, Pulse and JCB. Thanks to these partnerships, all RuPay credit cards can be used internationally to make payments offline and online. 

 

RuPay credit cards that can be used internationally will usually have the logo of the international payment processing network on the back of the card. If the logo is present, the card can be used internationally. 

When the RuPay payment network was first launched, banks initially only issued RuPay debit cards. However, recognising the potential and advantages of the domestic payment settlement system, public sector banks initially started offering RuPay credit cards. 

 

Now, as the popularity of these cards has grown , several private sector banks have also started issuing credit cards that use the RuPay network. Here’s a quick look at some of the banks that currently offer RuPay credit cards in India. 

• Punjab National Bank 

• IDBI Bank 

• Union Bank of India  

• State Bank of India 

• Saraswat Bank

• Federal Bank

• Bank of Baroda

• IDFC FIRST Bank 

• Axis Bank

• HDFC Bank 

• Kotak Mahindra Bank

• LIC Cards

• Canara Bank 

• SBM Bank 

To make RuPay credit cards more attractive, the National Payments Corporation of India (NPCI) provides several credit card offers, discounts and deals from time to time. Here’s a quick look at the various offers that are currently available. 

You can get a RuPay credit card by applying for it online or offline with your bank. To apply for it offline, follow the given process:

• Visit the nearest branch of your bank

• Fill in the application form 

• Submit all the required documents like your Aadhaar card, income proof, etc.

 

You can also apply for the RuPay credit card online by following the steps below: 

• Visit your bank’s official website

• Fill in the online application along with the required documents to get this card

 

Note that you must fulfil certain criteria related to age, income, etc. in order to be eligible to get a RuPay credit card.