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RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India (NPCI).It was created to fulfill the Reserve Bank of India's desire to have a domestic, open loop, and multilateral system of payments in India. RuPay facilitates electronic payment at all Indian banks and financial institutions, and competes with MasterCard and Visa in India.NPCI maintains ties with Discover Financial to enable the card scheme to gain international acceptance.

Background :-

The IndiaPay scheme was conceived by the National Payments Corporation of India as an alternative to the MasterCard and Visa card schemes, and to consolidate and integrate various payment systems in India. It was renamed to RuPay to avoid naming conflicts with other financial institutions using the same name.The RuPay card was launched on 26 March 2012. NPCI entered into a strategic partnership with Discover Financial Services (DFS) for RuPay Card, enabling the acceptance of RuPay Global Cards on Discover's global payment network outside of India.On 8th May 2014, RuPay has been dedicated to India by President of India, Pranab Mukherjee at Rashtrapati Bhavan, New Delhi.

Acceptance :-

RuPay cards are accepted at all automated teller machines (ATMs) across India under National Financial Switch, and under the NPCI's agreement with DFS, RuPay cards are accepted on the international Discover network. According to the data published by National Payments Corporation of India, there are around 145,270 ATMs and more than 875,000 point of sale (PoS) terminals in India under the RuPay platform. In addition to the ATMs and PoS terminals, RuPay cards are accepted online on 10,000 e- commerce websites with the same PIN which they use for ATM transactions. RuPay cards are accepted at all PoS terminals in India. To enable this, RuPay has certified 25 major banks in India to accept the RuPay card at their respective PoS terminals located at different merchant locations.

Issuers :-

RuPay issuing banks are authorized to issue RuPay debit cards to their customers for use at ATMs, PoS terminals, and e- commerce websites. About 240 banks, including all major public sector banks, currently issue RuPay cards to their customers, RuPay cards are also issued at about 200 cooperative and rural banks to promote financial inclusion.

RuPay EMV :-

NPCI has rolled out its chip card for high security transactions using EMV (Europay, MasterCard and Visa) chip technology, which is a global standard for debit and credit cards. RuPay chip cards have an embedded microprocessor circuit containing information about the card holder and because transactions are PIN-based rather than signature-based.