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I am Rashmi Kushwaha, here i am sharing some important difference between Rupay vs Mastercard and Visa. Some people knows everything about Rupay but here some point which differ from Msatercard and visa. Happy Reading :)
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Description
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MasterCard and Visa
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Where to use
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Only in India
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Processing Fee
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Less Service Charge to the payment gateway.
Eg: if a person does a transaction of say Rs. 2,000 then banks will have to pay around Rs. 2.50 when RuPay is used. whereas for the same transaction amount, Visa or Mastercard will charge Rs. 3.25.
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Service charge high as compare to the RuPay
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Quarterly Fee
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Won’t be required
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Banks have to pay quarterly fee.
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Joining fee
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No joining Fee for the bank
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Pay Entry fee to be the part of their network.
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Note : RuPay is Offered by Public sector, Pvt. Sector, Rural and Co-operative banks. under Pradhanmantri Jan Dhan Account, Every Account holder will get RuPay Debit Card for free.
On 24March2015, IRCTC RuPay Pre-Paid Debit card was launched for booking train tickets
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