Rupay platform for Atm cards

Source -Whats app
Type - Pl forward. It will save your money and keep your money in your own country

Dear All,

This is the time where we Indians are shifting from cash transaction to electronic transaction. Whenever we use a debit card or credit card, do you know that there is a transaction fee associated with it? In most cases you may not be charged but the merchant will be charged.

Let us understand what this is for.
First of all, no banks or any entities provide any sought of financial networks. It’s all provided by international companies namely *VISA, MasterCard, American Express etc.*

For example, when you get an ATM card with *VISA* label on that from the issuing bank, the bank provides you the facility to use the visa network. For that the bank has to pay a nominal fee to VISA for every transaction. The bank will get this back from the merchant. So each transaction makes these foreign companies rich.

Now let us see about the *RuPay* technology introduced by *NPCI (National Payment Corporation of India)* under the guidelines of *RBI (Reserve Bank of India).* RuPay is a similar network as *VISA, MasterCard* etc. This is managed by Reserve Bank of India.

All most all public sector and private banks have started to give *RuPay* based cards to their customers. *RuPay* cards got a major boost through the *Pradhan Mantri Jan Dhan Yojana* as *RuPay cards* were issued to all Jan Dhan accounts.

The advantages are lot. The main advantage is the transaction charges. Charges are very minimal. While Visa / MasterCard / Amex cards creates a transaction fee of about *1.9%* of the total amount, RuPay will charge only *0.01%*. Secondly, these charges in turn go to the Reserve Bank Itself. Third and the most important - All the transactional data lies in the Indian Servers. The good news is that NPCI is trying to make it international, which means foreign banks will start using RuPay cards.!

You can get more information about RuPay from *https://en.wikipedia.org/wiki/RuPay*
Next time when you apply or renew a card, kindly ask your bank and opt for RuPay card.

Let’s make India better.
Please forward/share this information to all your friends!
-Thanks
*#MovingTowardsBetterBharat* *#StrongerIndia* *#DigitalIndia*