Cashless transactions are treated as compared to cash transactions. Card payment is also part of this. Many types of transactions can be done in cashless mode through cards. When it comes to choosing a new card, many people are entangled between Rupay and Visa. There is a difference between these two cards which you should already understand. Also, it is also important to understand which card will prove to be better in these two. Come, let’s discuss these things here.
What is rupay card
Rupay i.e. RuPay is a multinational financial services and payment solution system introduced by the National Payment Corporation of India Limited (NPCIL). It is India’s indigenous payment service platform, which has been launched by RBI. Its purpose is to establish multilateral payment systems and promote financial inclusion. It offers a detailed series of debit, prepaid and credit cards with minimum transactions cost. This makes it more economical for less facilitated sections of society.
What is visa card
VISA is an American multinational payment gateway and card solution company. It is one of the most popular card networks. According to Groww, it has attendance in countries around the world and partnership with over 14,500 financial institutions worldwide. The visa offers a wide series of debit cards, prepaid cards, credit cards and a wide series of a variety of co-branded credit cards.
Difference between rupay and visa card
- RuPay Card is widely acceptable in India, but you cannot pay on international websites using it. While the visa is widely accepted at the domestic and international level. Visa cards can be used to pay in almost every country of the world.
- The transaction fee in RuPay card is relatively low compared to other card networks, as every transaction done through this card is processed within India. While the visa is an international payment network, the process of transaction takes place outside the country. Therefore, it has relatively more processing charge than Rupay.
- RuPay card’s transaction is fast than speed visa and other payment networks. The speed of transactions in the visa card is relatively slow compared to Rupay.
- RuPay’s primary target customers are the deprived sections of the society, especially in rural areas of India, while visa cards in India are more prevalent in Tier 1 and Tier 2 cities.
Which card is better
After knowing the difference between the two, it is clear that your card depends on your use and needs i.e. what kind of transactions you do. Rupay card is the best option if you are doing transactions within the country. Because this card has low transaction fees and fast processing improves it. However, if you transact internationally or travel abroad often, visa card may be an ideal option for you. That is, overall it will prove to be better according to your needs.
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