"RuPay debit and credit cards issued by Indian banks have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes," said a statement from the RBI.
"RuPay debit and credit cards issued by Indian banks have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes," said a statement from the RBI on Thursday. A co-based payment card is a card that combines two or more payment brands. It has been decided to allow the issuance of this facility with a view to expand payment options for travelers abroad. Banks in India will be able to issue RuPay Prepaid Forex Card for use by overseas ATMs, PoS machines and online merchants. Banks can issue RuPay debit, credit and prepaid cards for use abroad. The cards can be used internationally as well as within India. The move will also expand the range and acceptance of RuPay cards globally. Necessary instructions in this regard will be issued separately later."
For global expansion of RuPay cards, arrangements have been made with Bhutan, Singapore, Nepal and UAE to accept RuPay cards without co-branding with other international card schemes. Issuance of RuPay cards in other countries is also being tested.
Mumbai : RuPay card can be used not only within the country but also abroad. According to news agency sources, the Reserve Bank of India (RBI) has decided to allow Indian banks to issue RuPay prepaid forex cards for use by ATMs, PoS machines and online merchants abroad. RuPay debit, credit and prepaid cards will be allowed to be issued abroad as well as used in different countries. Reserve Bank of India Governor Shaktikanta Das informed the apex bank's decision after a meeting of the Monetary Policy Committee (MPC) on Thursday. As a result, this move will increase the acceptance of RuPay Card across the world. At the same time Indians will get the benefit of using this card abroad.
"RuPay debit and credit cards issued by Indian banks have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes," said a statement from the RBI on Thursday. A co-based payment card is a card that combines two or more payment brands. It has been decided to allow the issuance of this facility with a view to expand payment options for travelers abroad. Banks in India will be able to issue RuPay Prepaid Forex Card for use by overseas ATMs, PoS machines and online merchants. Banks can issue RuPay debit, credit and prepaid cards for use abroad. The cards can be used internationally as well as within India. The move will also expand the range and acceptance of RuPay cards globally. Necessary instructions in this regard will be issued separately later."
For global expansion of RuPay cards, arrangements have been made with Bhutan, Singapore, Nepal and UAE to accept RuPay cards without co-branding with other international card schemes. Issuance of RuPay cards in other countries is also being tested.
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