The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW'>reserve bank of india (RBI) has announced that RuPay, the card network of the government of India's National Payment Corporation of india, currently dominates the indian debit card market with a large customer base of about 60 percent.



RuPay dominates the market

 The market dominance of RuPay, which was just 15 percent in 2017, has now risen to 60 percent, but MasterCard and Visa, the US companies largely dominating in terms of trade and money transfer.



RuPay card problem

Although the number of RuPay cards in the market is high, MasterCard and Visa dominate to a large extent compared to the transactions used to transfer money using it. What is the reason for this different situation?



Government of India

MasterCard and Visa have directly accused the US government of undermining their business by directly supporting the indian government's RuPay card. 



In particular, prime minister Modi's government has accused the government of hurting their business to a large extent by issuing a RuPay card in the name of service to the indian government.


Prime minister Jan Tan Yojana

The prime minister of the Union government, Jan Dhan, has launched a scheme to make banking accessible to all sections of the people in India.



The central government issued the RuPay card for all bank accounts opened under the scheme. This created a huge dominance in the market for the RuPay site.



90 crore debit card

There are currently 90 crore debit cards in use in india, of which 31.74 debit cards are RuPay debit cards. With this, RuPay has gained about 34.5 percent market share in the debit card segment alone.



Visa and MasterCard

As Visa and MasterCard's dominance of the payment platform increased around the world, the governments of China, india and russia began to set up their own payment networks to recover from this. This is a huge blow to MasterCard and Visa.



RuPay card and UPI site

Demand for MasterCard and Visa in the payment market in india through the RuPay Card and UPI platform has been greatly reduced. 



For example, the number of card transactions that a person made in one month 4 years ago and the number of card transactions that they make now have dropped dramatically. 



Also reduced MDR payment through RuPay card and UPI platform.



Credit card trading

Also, the RuPay card has recorded the lowest trading volume in the credit card trading segment. Only 20% of the total credit card business is accounted for by RuPay Card and the rest by MasterCard and Visa.


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