BOB Eterna is now becoming a most popular choice credit card

[jetesh]

BOB Eterna credit card has seen a significant rise in demand recently due to several attractive features:

1. With the recent launch of the Rupay network, BOB Eterna is becoming a popular choice in super premium credit card segment.
2. BOB Eterna offers the highest number of lounges.
3. Unlimited Domestic Lounge Access. ( min spends criteria : Rs 40,000 per quarter )
4. International lounge access will also be announced soon.
5. Best Reward Points. 15 rewards points per Rs 100 on online shopping, dining, travel and international spends.
6. Plus, BOB Eterna annual fees are lower compared to other banks’ credit cards in the same segment.
7. And achieving a fee waiver is a breeze !
8. Foreign Exchange Mark-up fee of 2%.
9. Buy 1 Get 1 Free Movie ticket via Paytm
10. Welcome Gift of FitPass Pro Membership worth Rs. 15,000.

 

[Abhishek012]

Rupay naam rakh ke hee you've killed the global appeal.
Imagine if VISA was named Dollarcard....aadhe log ye soch ke nahin letee ki ye card sirf dollar ke liye hai.

Visa card ka naam pahele BankAmericard hua karta tha, baad me change kar k Visa card kar diya. 🤣🤣

Mastercard ka naam pahele Interbank Card tha, phir Master Charge hua tha, last me Mastercard kar diya.

 

[Abhishek012]

As an Indian, I have a strong affinity for Rupay, which soon or later will gain recognition as one of the top credit card networks in the world, alongside Visa and Mastercard.

However, it is important to understand that it will take time for Rupay to achieve widespread global recognition - at least five years from now.

Global acceptance will take more time. Nothing significant will happen in 5 years.

However, it's certain that in the next 5 years, more countries will start accepting RuPay cards or sign MOUs for it.

If we talk about 80% to 90% acceptance rate globally, it will take time. It may definitely happen in few countries.

 

[_amit_]

RuPay cards come with many hidden benefits that people will only fully realize in the future, but for that, RuPay needs support.

1. Lowest or zero currency conversion rate: RuPay facilitates transactions in local currencies, which significantly reduces fees.
2. INR Internationalization: The more RuPay cards are used, the stronger the Indian Rupee (INR) will become. Increased usage helps strengthen the currency on an international level.

Currently, billions of dollars flow out of India every year due to Visa and Mastercard transactions, with 99% of these being domestic. In return, Visa and Mastercard reinvest only a few million dollars back into India.

1. Indirect long-term benefit: The inflation rate could slow down significantly. However, for this to happen, everyone needs to support RuPay now. If people start using it today, we may see the full benefits 20 years from now.

Remember, people often compare India with China. But they forget that from day one, China has fully supported its domestic products. The Chinese are wise enough to understand that if they support their low-quality domestic products today, tomorrow those same companies will produce better quality products.

What's interesting is that I heard this was the mindset of the Chinese in the 90s, and now Chinese companies have become exactly that—leaders in nearly every industry, with no area where they are lagging behind.

And yes, we're talking about card networks, China UnionPay Card has played a major role in making the Chinese currency so strong and the internationalization of the Chinese Yuan/Renminbi.

When businesses use nationalism to sell, it reveals more about their marketing weaknesses than the product’s strengths.

There is no need for a product to hide behind a flag if its good.

And no, its not as simple as saying a card network played a major role in making a currency strong and what chinese did.

Also people who compare India with China, they should rethink why is there a need to compare apple with an orange.

 

[Abhishek012]

When businesses use nationalism to sell, it reveals more about their marketing weaknesses than the product’s strengths.

There is no need for a product to hide behind a flag if its good.

And no, its not as simple as saying a card network played a major role in making a currency strong and what chinese did.

Also people who compare India with China, they should rethink why is there a need to compare apple with an orange.

There is no country in the world that doesn't sell in the name of nationalism.

America is the no. 1 example of this.

The reason behind the success of American companies is nationalism.

 

[_amit_]

There is no country in the world that doesn't sell in the name of nationalism.

America is the no. 1 example of this.

The reason behind the success of American companies is nationalism.

A company is different from a country.

A company with a weaker marketing team and strategy use country as a disguise, does not mean the product itself is weak.

A inferior marketing does not mean a weaker product.
Product can be way different from its marketing and how its marketing.
Its all a game of perception.

 

[jetesh]

A company is different from a country.

A company with a weaker marketing team and strategy use country as a disguise, does not mean the product itself is weak.

A inferior marketing does not mean a weaker product.
Product can be way different from its marketing and how its marketing.
Its all a game of perception.

Bro, here that product, Rupay, as a network card representing India on the world stage. It’s very important for us to understand that this product is not just a financial tool/brand/company but a symbol of our nation’s growth and innovation.

 

[Abhishek012]

A company is different from a country.

A company with a weaker marketing team and strategy use country as a disguise, does not mean the product itself is weak.

A inferior marketing does not mean a weaker product.
Product can be way different from its marketing and how its marketing.
Its all a game of perception.

There's nothing particularly special about Visa/Mastercard, and there's nothing wrong with them either. It's just that Indians that makes them think Visa/Mastercard is the best.

In processing transactions for Visa/Mastercard and RuPay, 10 to12 companies are involved, both foreign and domestic. It's the same companies with all of them.

It's just that the Indian mindset is that if something is from a Western country or made by white people, it must be the best.

Visa/Mastercard didn't even offer any marketing or promotions until their market share began to decrease.
Anyway, in early days, Visa/Mastercard's services used to be very bad, but they sold them in the name of nationalism.

You will see that many old age Americans still don't know how to make digital payments. Why?

Because Visa/Mastercard's services were terrible, but other Americans believed that if they supported Visa/Mastercard today, it would succeed tomorrow, and that's exactly what happened.

Say whatever you want but nationalism has been the biggest secret behind the success of Visa/Mastercard and no doubt, in early days, the US govt also gave a lot of taxpayers' money to Visa/Mastercard in the name of nationalism.

 

[SSV]

There's nothing particularly special about Visa/Mastercard, and there's nothing wrong with them either. It's just that Indians that makes them think Visa/Mastercard is the best.

In processing transactions for Visa/Mastercard and RuPay, 10 to12 companies are involved, both foreign and domestic. It's the same companies with all of them.

It's just that the Indian mindset is that if something is from a Western country or made by white people, it must be the best.

Visa/Mastercard didn't even offer any marketing or promotions until their market share began to decrease.
Anyway, in early days, Visa/Mastercard's services used to be very bad, but they sold them in the name of nationalism.

You will see that many old age Americans still don't know how to make digital payments. Why?

Because Visa/Mastercard's services were terrible, but other Americans believed that if they supported Visa/Mastercard today, it would succeed tomorrow, and that's exactly what happened.

Say whatever you want but nationalism has been the biggest secret behind the success of Visa/Mastercard and no doubt, in early days, the US govt also gave a lot of taxpayers' money to Visa/Mastercard in the name of nationalism.

@Abhishek012 bhai,
A very simple and straight forward question to you..
Answer honestly.
Which laptop do you use?

 

[jetesh]

@Abhishek012 bhai,
A very simple and straight forward question to you..
Answer honestly.
Which laptop do you use?

Bro, it's important to understand that we're discussing currency here.

Therefore, you need to inquire about the specific currency he used to buy that item.

 

[SSV]

Bro, it's important to understand that we're discussing currency here.

Therefore, you need to inquire about the specific currency he used to buy that item.

I know what I am talking about..

 

[jetesh]

The point is to buy any product of any brand or country. They must use a Rupay network card instead of Visa, MasterCard, or Amex.

 

[jetesh]

I know what I am talking about..

Really, v gud

 

[SSV]

Really, v gud

Thanks . .

 

[_amit_]

Bro, here that product, Rupay, as a network card representing India on the world stage. It’s very important for us to understand that this product is not just a financial tool/brand/company but a symbol of our nation’s growth and innovation.

As I mentioned earlier, its all perception. Who is saying its a symbol of a country is important.

UPI was designed long ago and subsequently came into existance.
There is a high chance it will spread around globe.
India is already helping other countries develop similar payment platforms and has offered some to be part of it.
Its my guess that countries are not seeking help or accepting the UPI only because its an Indian product.



Rupay has one thing that no other card has till now, UPI on CC.
If it does that properly, it will be something to look for.
Wallet and prepaid instruments were already there before UPI.
So if a product does not let a consumer transact in peace; makes consumer remember which merchant accepts it or just keep standing there using alternative methods, there is still work to be done.

There is a difference between a government/company/product and country. Understanding this simplifies a lot of things, or atleast its my perception.

 

[CreditCardFino]

Everyone has a different opinion about UPI Chargeback.

Some people say that chargebacks are almost impossible in UPI, while others say that chargebacks are easy in UPI.

Look at these two guys @Tejo & @imdjay , saying everywhere that UPI chargeback is impossible. 🤣🤣

On Twitter, there was a guy saying the same thing.

But what is the truth? The truth is that UPI chargebacks are easy, and it has become even easier after the introduction of the UPI UDIR system.

However, bank employees still don't fully know how to process UPI chargebacks correctly. If you escalate the complaint to a higher level, they will definitely do it.

And I've heard about this UPI chargeback problem more often with ICICI Bank and SBI Card.

By the way do you know, 5-6 years ago, if you called ICICI Bank customer care and asked for a RuPay Platinum debit card, only about 1% of the support team knew about it. Today, 5-6 years later, at least 80% to 90% of ICICI Bank customer care knows that ICICI issues RuPay debit cards.

Similarly, some bank employees have no idea about UPI chargebacks.

In fact, even today, if you ask some PSU banks for a chargeback on normal Visa/RuPay/Mastercard transactions, they will ask, 'What is a chargeback?' 🤣🤣

You should say disputed transaction not all are aware of charge back term. In 2018 Indian bank offered me RuPay debit card I was annoyed as I was expecting master debit card the bank employee calmed me saying RuPay card fee is lesser than master. If you want we can give master card.

 

[CreditCardFino]

Yes,

I remember two years ago, someone mentioned this thing on another forum about IDFC bank -

Recently paid a person 1000 rs via UPI.

But the person denied providing the service.

Raised chargeback from idfc netbanking itself, no call, no email.

Today the person contacted me and said his bank has given him two options.

Either pay directly and tell me to withdraw the case or let the bank transfer back the amount.

All this within 3 days of registering complaint.

But how would the bank know if the services was denied? If I go to Reliance and buy eggs and if they are spoiled I will raise chargeback will RuPay give me back my money?

 

[CreditCardFino]

If a product's best selling point is its country of origin, that's probably the only good thing it has going for it.

In future central govt. will book you under UAPA act if you seek other networks instead of RuPay 😀
You might see the headlines as 2 corporate employees were booked under UAPA for trying to port their network from RuPay to Master for international travel. Meanwhile those employees gets the case quashed in high court quoting RBI guidelines for porting network ☺️.

 

[_amit_]

There's nothing particularly special about Visa/Mastercard, and there's nothing wrong with them either. It's just that Indians that makes them think Visa/Mastercard is the best.

In processing transactions for Visa/Mastercard and RuPay, 10 to12 companies are involved, both foreign and domestic. It's the same companies with all of them.

It's just that the Indian mindset is that if something is from a Western country or made by white people, it must be the best.

Visa/Mastercard didn't even offer any marketing or promotions until their market share began to decrease.
Anyway, in early days, Visa/Mastercard's services used to be very bad, but they sold them in the name of nationalism.

You will see that many old age Americans still don't know how to make digital payments. Why?

Because Visa/Mastercard's services were terrible, but other Americans believed that if they supported Visa/Mastercard today, it would succeed tomorrow, and that's exactly what happened.

Say whatever you want but nationalism has been the biggest secret behind the success of Visa/Mastercard and no doubt, in early days, the US govt also gave a lot of taxpayers' money to Visa/Mastercard in the name of nationalism.

There are two things quite important to sell products:
Either it has to be cheap, or it has to be good.

If a consumer is making a choice to use a product because of factors unrelated to product itself, usually they are part of a cult.
Usually, not always.

 

[Abhishek012]

@Abhishek012 bhai,
A very simple and straight forward question to you..
Answer honestly.
Which laptop do you use?

Dude, This is not just about domestic or foreign companies. It's also about Indian currency.

If you make a foreign transaction using a RuPay card, the payment is received by the other country in Indian Rupees, which they will then use for trade with India.

And this is just a small step.

Once this cross-border local currency system is fully developed, we will start doing large-scale trade in INR, which will be facilitated by India's SWIFT alternative - SFMS and INFINET.

Here's an interesting point -

You might have often heard people saying that these or that guys are traveling abroad or getting married in Turkey, spending money in another countries.

You know, the problem isn't with getting married in Turkey or traveling abroad. The problem is that when you trade using Visa/Mastercard, you end up strengthening the US dollar and weakening our own INR.

If you make payments using RuPay/UPI in INR, that country will accept Indian Rupees and later trade with us.

This will elevate India to the position where the US, Europe, and China are today. The entire world will use Indian Rupees and trade with us.
And not just that, countries will also trade with each other in Indian Rupees.

Imagine if banks in Bhutan and Sri lanka are connected through RuPay/UPI/SFMS/INFINET in the future, they can trade with each other in their local currencies through Indian Rupees.

For example, currently when we buy something from China, we currently pay in Chinese currency. But first, we convert our INR to US dollars, and then US banks convert those US dollars into Chinese currency and give it to them.

If you ever wonder why countries would trade or conduct transactions using the Indian payment system, it's because the transaction fees of the Indian payment system are 50% cheaper than those of Visa, Mastercard, or SWIFT,

Read this - WTO: USA use veto power & opposing UPI to reduce the cost of cross-border remittances - https://www.technofino.in/community...e-the-cost-of-cross-border-remittances.25176/

In the end, I would just say that the dream I mentioned above will only be possible if more and more people use RuPay/UPI.

I remember, around 2015, the former CEO of NPCI said that the success of the RuPay card depends on the support of the Indian people. It will only succeed if people support it.

Today, Europe regrets selling Euro Card. When the topic of creating a domestic European card network came up again, the shareholder banks gave up, saying they could no longer do it.

@_amit_

 

[Abhishek012]

But how would the bank know if the services was denied? If I go to Reliance and buy eggs and if they are spoiled I will raise chargeback will RuPay give me back my money?

Look, I won't answer this. 🤣🤣

But I will say this -

Once upon a time, here at Technofino, few people told and given an example that the chargeback system of Visa/Mastercard is the best, like If you buy fruits from roadside vendors and if fruits turn out to be spoiled, Visa/Mastercard refunds the money after file a chargeback.

And some Visa/Mastercard lover were agreeing with that. 🤣🤣

I got tired of explaining that RuPay/UPI also has a similar chargeback system. I explained everything with RuPay/UPI chargeback code, only then Visa/Mastercard lovers fall silent.

Pure dimag ka dahi kar diya tha usdin unlogo ne, i mean seriously ajib ajib example de kar proof karne ka try karte hai Visa/mastercard best hai.