Exclusive: RuPay Enters E-commerce. Will Compete with Visa & Mastercard
Published by Web 2.0 Asia Blog |27th June, 2013 - Mumbai, India
The central bank's national payments corporation of India (NPCI) has enabled e-commerce payments using RuPay, its Mastercard equivalent service this month.
The move will add another payment option to customers. Some sites, like Coke2home, Justrechargeit and Futurebazaar have already started accepting RuPay payments.
Backed by leading banks in the country, RuPay is a card payment service like Visa or Mastercard which is accepted by merchants.
Payment gateway company CCAvenue has confirmed that they are one of the companies authorized by NCPI to process RuPay debit cards.
RuPay competes with international card companies such as Visa and Mastercard and has plans for a global roll out in partnership with Discover Financial Services.
China has a similar payment mechanism called the China UnionPay card with a base of 1.8 billlion issued cards accepted in 26 countries. By end of March 2013, there were more than 3 million RuPay cards issued in the country, according to recent reports.
The national payments corporation has plans to launch EMV (Europay, MasterCard and Visa) cards, contact less cards and credit cards in two phases that are yet to come.
The move will add another payment option to customers. Some sites, like Coke2home, Justrechargeit and Futurebazaar have already started accepting RuPay payments.
Backed by leading banks in the country, RuPay is a card payment service like Visa or Mastercard which is accepted by merchants.
Payment gateway company CCAvenue has confirmed that they are one of the companies authorized by NCPI to process RuPay debit cards.
RuPay competes with international card companies such as Visa and Mastercard and has plans for a global roll out in partnership with Discover Financial Services.
China has a similar payment mechanism called the China UnionPay card with a base of 1.8 billlion issued cards accepted in 26 countries. By end of March 2013, there were more than 3 million RuPay cards issued in the country, according to recent reports.
The national payments corporation has plans to launch EMV (Europay, MasterCard and Visa) cards, contact less cards and credit cards in two phases that are yet to come.
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