In modern times, credit cards are an important way of making cashless payments. Credit card issuers offer different perks and benefits to encourage usage as well.
There are various benefits to using RuPay credit cards, and many banks offer RuPay credit cards with unique offers and perks.
RuPay is an Indian payment channel under the guidance of the National Payment Corporation of India (NPCI). Since it is made in India, the majority of Indian banks and financial institutions are offering RuPay credit cards. As they are processed in India by NPCI for transactions, they are quick and cost-low, thus saving your funds.
RuPay credit cards work well with the UPI platform, reducing its transaction time and making the process smooth. RuPay credit cards can be used for purchases, cash advances, and more
Considering the needs of Indian citizens, RuPay offers different forms of credit cards that cater to the market's unique needs. Some of them include -
This is a basic card with fewer annual charges and more vendor-specific offers and discounts. Its reward structure is simple and focuses more on partner-related rewards.
These cards are of higher quality, focus on security, and provide specially crafted offers at merchants with reward points to redeem. These cards ensure access to premium airport lounges and more.
These cards are for a premium lifestyle where specific access to spas, golf meme ships, access to premium OTTs, and more are given. Based on the bank's access to restaurants, complimentary services can also be availed.
The Ministry of Micro, Small, and Medium Enterprises launched this in collaboration with NPCI, for small businesses to easily manage their expenses and transactions and offers them insurance, airport lounge access, and more.
RuPay credit cards can be effectively used for various normal functions like national or international transactions such as online shopping, store payment and paying nearby merchants, paying bills for individuals and commercial purposes.
Extra benefits and offers on travel and other purposes with RuPay credit cards can be availed. It also offers EMI options and access to cash withdrawals at affordable costs
RuPay credit cards offer numerous advantages to its users. Due to its local development, it understands the needs of locals, and thus its processing is smooth. Let’s look at a few of the benefits -
Low merchant fees: Due to its low transaction charges, it is accepted in more places. Your card will be accepted anywhere across India, benefiting both you and the merchant.
Power of UPI: You can link to UPI and make smooth payments with your credit card, and not carry your card around.
Intended for domestic use: As they are made for locals all features and rewards are catered to them, and make it more usable than international cards.
Save more: They offer competitive interest rates, annual charge waivers, and saving offers than other features.
Rewards and benefits: Looking for price-sensitive Indian markets, it offers more rewards, cashback, and travel offers which are in demand, as compared to its rivals.
Security: It includes the latest features such as EMV chip, 2-factor authentication, adding AI-enabled technology for fraud detection with continuous improvement.
Easy to use: RuPay offers banking services regardless of bank such as withdrawal, online features, and other credit products.
Both RuPay and Visa credit cards are popular in India, but there are some subtle differences between them. Looking at the differences between them will help you understand which of the two is a better fit for you.
|
Criteria |
RuPay Credit Cards |
Visa Credit Cards |
|---|---|---|
|
Accepted in |
All over India, however limited global acceptance |
Global acceptance |
|
Processing Time |
Fast |
Slow |
|
Fees & Charges |
Low |
High |
|
Security |
Considered high |
Considered lower than RuPay cards |
|
Target Population |
Rural and small cities |
Urban and global |
|
Additional Benefits |
Lower benefits and rewards |
More extensive benefits and rewards |
You can apply for a new RuPay credit card online or offline. Let's look at both processes one by one.
Here is the online application process for a RuPay credit card -
STEP 1: Visit RuPay’s website.
STEP 2: Click on the RuPay Credit tab on the home page.
STEP 3: Choose your existing bank or list of banks from which you want your credit card.
STEP 4: Fill out the inquiry form with all details, personal information, and PAN number.
STEP 5: Enter the OTP generated after pressing the submit button.
STEP 6: Further fill out a request form for the credit card with the other details requested.
STEP 7: Click on ‘Apply’.
Don’t want to be involved in a complex online process? Then, you can consider applying for a RuPay credit card physically. Here are the steps you need to follow -
STEP 1: Visit the nearest bank branch from which you want to avail your RuPay credit card.
STEP 2: Contact the representatives in the credit card department.
STEP 3: Discuss and seek suggestions for the credit card that best suits you.
STEP 4: Fill out the form with accurate information and submit your documents along with the filled form.
STEP 5: Representatives will check your eligibility and will proceed further.
Want a Credit Card with High Limits & Rewards?
Though there are many options for payments via credit cards, RuPay caters to local needs and offers and thus better suits the needs of Indian citizens. It speeds up the transaction processing as it is processed in India by local authorities, while it costs low to the merchants and citizens and thus is a cheap alternative.
It focuses on the low-price needs of the people and meets both lower and upper-income groups with different sets of offers and schemes. Its tie-up with UPI platforms makes it easy for such credit cards to be used online via mobiles, and no need to swipe everywhere.
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This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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