Are almost every bank giving a additional rupay card to the customers to save their most popular cashback cards being converted to Rupay?

[Das.N]

After the announcement of RBI guidelines about "Any credit card can be converted to rupay from October 1st," I saw every bank trying to give a additional rupay card to their customers. Like HDFC virtual rupay, ICICI coral rupay,Axis kiwi, Yes bank upi card and many more examples. I think they trying to avoid their most popular cashback cards like Millennia, Amazon pay, Axis Ace, Axis Airtel being converted to Rupay. And if those cards will be converted to rupay, I think they will not be able to give cashback in current reward structure. Two different reward structure for two varieties of card is a possibility. One reward structure for rupay other for rest other card issuer companies. What is opinion regarding this. Don't forget to comment your valuable opinion.

 

[NShah]

After the announcement of RBI guidelines about "Any credit card can be converted to rupay from October 1st," I saw every bank trying to give a additional rupay card to their customers. Like HDFC virtual rupay, ICICI coral rupay,Axis kiwi, Yes bank upi card and many more examples. I think they trying to avoid their most popular cashback cards like Millennia, Amazon pay, Axis Ace, Axis Airtel being converted to Rupay. And if those cards will be converted to rupay, I think they will not be able to give cashback in current reward structure. Two different reward structure for two varieties of card is a possibility. One reward structure for rupay other for rest other card issuer companies. What is opinion regarding this. Don't forget to comment your valuable opinion.

Yes I think they will made two different reward structure one for normal credit card like visa and master card and another one for rupay. because bank getting most benefits from mastercard and visa cards

 

[yogobit]

People getting to stagger their upi purchases by 45 days & expecting rewards on top of it is the definition of cheap mentality

 

[Deleted member 5552]

Yes I think they will made two different reward structure one for normal credit card like visa and master card and another one for rupay. because bank getting most benefits from mastercard and visa cards

You are right, ICICI Coral RuPay Card's reward rate is totally different from Visa Coral Card.

Visa coral card gives 2 reward points for Rs 100 on Flipkart transactions, but RuPay card gives only 1 point for Rs 200 (OTP based transactions)

Today also I did a transaction on Yatra app and got 4 reward points on Rs 100 on RuPay Coral card which was UPI transaction. But normally this card gives 1 reward points on Rs 200.

 

[bsc0008]

Banks giving very low interest rate on people's money and expecting them to pay high interest on loans is also a definition of cheap mentality 😉
To be fair, at the end of the day it's just how a capitalist business works. So nothing wrong in people doing the same to it.

People getting to stagger their upi purchases by 45 days & expecting rewards on top of it is the definition of cheap mentality

 

[vega]

Banks giving very low interest rate on people's money.

That's how the economy functions, even a 6th standard child can tell that.

 

[vega]

To be fair, at the end of the day it's just how a capitalist business works.

Whatever you see currently in India, it's just because of a moderate capitalism after 1991.
Ask the previous generation, how hard their life was while growing up and afterwards. They had to wait months or years just to get a telephone 📞 connection or buy a scooter Bajaj chetak.

 

[bsc0008]

That's how the economy functions, even a 6th standard child can tell that.

I'm not that much qualified to question the economy or it's inherent functioning.

Whatever you see currently in India, it's just because of a moderate capitalism after 1991.
Ask the previous generation, how hard their life was while growing up and afterwards. They had to wait months or years just to get a telephone 📞 connection or buy a scooter Bajaj chetak.

I'm just responding to yogobit calling people as cheap when all they're doing is extracting / exploiting "VALUE" as much as possible from the bank, which in turn was the same thing the banks doing to the people.

 

[Hemang]

I think major bottleneck with Rupay credit card is that people started transferring money to merchant account (Of relative or friend), by paying charges for the same, they start using it like ATM, and on top of that rewarding these false transactions might be hurting the bank. But on the same note banks are also no saint, so Yes everything might be fair as long as there is no direct rule violation.

 

[Swastik]

My gripe with Rupay cards is that more and more merchants are switching off cards on UPI,

My Dry Cleaner, office canteen, even local shops have all switched off cards on UPI in last 1-2 months, only my pani puri cart still takes Rupay on UPI😁
And my transactions here are very small, like ₹200 at a time, but still won't work

Maybe there's a forum online like TFC where all these merchants come and tell each other to do this, or maybe there's a youtube video out there, i don't know but it's disheartening

 

[Hemang]

My gripe with Rupay cards is that more and more merchants are switching off cards on UPI,

My Dry Cleaner, office canteen, even local shops have all switched off cards on UPI in last 1-2 months, only my pani puri cart still takes Rupay on UPI😁
And my transactions here are very small, like ₹200 at a time, but still won't work

Maybe there's a forum online like TFC where all these merchants come and tell each other to do this, or maybe there's a youtube video out there, i don't know but it's disheartening

Ab vese bhi Rupay UPI faydemand raha nahi jyada. Infinity pe bhi 0.5% independently calculate hone laga hai. Pehle 34 rupees pe mil rha tha 1 rupay. Ab bohot complicate kar diya unhone calculation. 0.5% billing cycle me aayega, aur 1% directly tata app me aayega. Yhi kaam reh gaya hai consumer ko bethke check kre ki kaha kitna aaya hai. Me to bill payment vale 1% ko hi apna manta hu, sure shot even on Rupay credit card.

 

[Swastik]

I

Ab vese bhi Rupay UPI faydemand raha nahi jyada. Infinity pe bhi 0.5% independently calculate hone laga hai. Pehle 34 rupees pe mil rha tha 1 rupay. Ab bohot complicate kar diya unhone calculation. 0.5% billing cycle me aayega, aur 1% directly tata app me aayega. Yhi kaam reh gaya hai consumer ko bethke check kre ki kaha kitna aaya hai. Me to bill payment vale 1% ko hi apna manta hu, sure shot even on Rupay credit card.

I know that, and Rupay cards were never as rewarding as other more rewarding cards

But Rupay on UPI was a saving grace at places without POS Machine,
But now this option becoming less available, i don't see much point in keeping a lot of Rupay cards,
This'll also hurt chances of Rupay becoming popular against Visa/Master