What is RuPay card, visa card, MasterCard ? | Different types of debit card in India |working model of Debit cards | Sidtalk.

What is RuPay card, visa card, MasterCard ? What is different types of debit card in India . How debit card works. Working process of ATM card . sidtalk

What is RuPay card, visa card, MasterCard ? What is different types of debit card in India . How debit card works. Working process of ATM card . sidtalk
Difference between debit card


Let's first know about the ATM Card?

Earlier people used to go to the bank to deposit or withdraw money, suffer from long-range lines and also face many problems.
 Keeping all this situation in  mind, the bank implemented a credit or debit card to withdraw money from ATM machines and to get the ATM Card the applicant needs to apply it. After applying whether for debit card, the bank offers 3 types of ATM card i.e. RuPay Card, Visa Card or MasterCard. Now people have started withdrawing money from ATM machines without going to the bank. So, we can say that these cards are a type of Payment Gateway Card.

What is RuPay card ?

RuPay Card
Rupay Card is an Indian domestic card conceived which is launched by NPCI in 2012. It was introduced in the Indian payment system to reduce the monopoly of foreign gateways such as Visa and MasterCard because these are foreign companies or American companies and their commission is high i.e. the cost of transaction is high. Therefore, we can say that RuPay Card is an Indian payment gateway.

It also works like Visa or Master Card and its commission is low. RuPay facilitates electronic payment at all Indian banks and financial institutions. 

How visa card, MasterCard, and rupay card works ?
 One thing must be clear in your mind that visa, MasterCard and rupay are not a property of banks. These are a company which is tie up with bank. These company use to provide online transaction . It's give 16 digit number with expiry date and CVV code which is mandatory while performing online transaction.
Debit card is a middle men between bank and customer. If customer use debit card for buying something online he pay using these card . Now let understand what actually happened while performing theses transaction.
First user fill the required information on the transaction form it includes 16 digit codes, expiry,CVV codes. If all these information is right then one confirmation OTP is send to registered mobile number by bank. If all goes right then debit card company remove required amount from our bank account and pay it to receiver. Thus debit card company act like a chain between bank and user. All these transaction is performed under certain charges which is dedicated from user account.

Rupay card Vs MasterCard Vs visa card

1. RuPay Card is an Indian Domestic Debit Card which is only accepted in india whereas Visa or MasterCard is an International System debit card which is acceptable in whole world.

3. Visa or MasterCard is an American company and when we use its card, then for data processing and verification, the server goes to the company's server, which reduces processing. Whereas RuPay card is used for data processing and verification in India only so, its processing is fast as compare to visa or MasterCard.

4. Banks are required to pay a quarterly fee for joining a foreign payment network such as Visa Debit Card or MasterCard but do not have to do so in RuPay Card. Any bank can join the RuPay network at free of cost


 So I hope you get cleared about debit card and it's working model.




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Sidtalk - Quality Content Posts, PUBG mobile ,Life hacks, Dark Facts and more.: What is RuPay card, visa card, MasterCard ? | Different types of debit card in India |working model of Debit cards | Sidtalk.
What is RuPay card, visa card, MasterCard ? | Different types of debit card in India |working model of Debit cards | Sidtalk.
What is RuPay card, visa card, MasterCard ? What is different types of debit card in India . How debit card works. Working process of ATM card . sidtalk
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