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Exploring Card Options: Switching from SBI CASHBACK VISA to Rupay Network – Your Guide

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anandkwae

anandkwae

TF Neo
Seeking Member Advice: SBI CASHBACK VISA cardholder here! Exciting scoop: SBI Card joins Rupay network. 🌐 Wondering if I can switch to Rupay? Looking for insights on the process. Let's connect for guidance on this exciting card evolution! 💳🔄 #SBICard #RupaySwitch
 
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anandkwae said:
Seeking Member Advice: SBI CASHBACK VISA cardholder here! Exciting scoop: SBI Card joins Rupay network. 🌐 Wondering if I can switch to Rupay? Looking for insights on the process. Let's connect for guidance on this exciting card evolution! 💳🔄 #SBICard #RupaySwitch
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It's not us to decide which card on which network .

When they decide to have a card on Rupay/ some other network.. then you can ask them to switch to your desired network, provided you are already a holder of the same card on some network, if RBI guidelines comes into effect on October 1 as planned.
Note: they have an obligation to respect your request provided all the above conditions are met
Hope you understood my longggg sentence
 
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S S V said:
It's not us to decide which card on which network .

When they decide to have a card on Rupay/ some other network.. then you can ask them to switch to your desired network, provided you are already a holder of the same card on some network, if RBI guidelines comes into effect on October 1 as planned.
Note: they have an obligation to respect your request provided all the above conditions are met
Hope you understood my longggg sentence
Click to expand...
RBI guidelines will help mastercard not RuPay.

RuPay is non-profit company. RuPay was launched to help Indian banks, small payment switch companies, poor to middle class people, create NCMC like payment system etc and create cross border payment system with local currency.

RBI guidelines clearly told -
  1. Card issuers shall issue cards across more than one card network (So, Visa and Mastercard is enough to fullfill the RBI guidelines, banks dnt need to tieup with RuPay)
  2. Card issuers shall provide an option to their eligible customers to choose any one among the multiple card networks. This option may be exercised by customers either at the time of issue or at any subsequent time. (Yes, if any card available on Visa/master or RuPay card network then customers can request or bank ask you to switch to RuPay or Visa/master).
Recently, RuPay Steering Committee Meeting on 27th July’23, RuPay told their member banks to stop issuing cards for those who apply RuPay card only for airport lounge access.
 
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Abhishek012 said:
Card issuers shall issue cards across more than one card network (So, Visa and Mastercard is enough to fullfill the RBI guidelines, banks dnt need to tieup with RuPay)
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True. RBI can't say to Banks, you must issue "Rupay ' also.. or issue on minimum 3 networks ( this may be overkill for a small players). It is a balancing act ..

Abhishek012 said:
Card issuers shall provide an option to their eligible customers to choose any one among the multiple card networks. This option may be exercised by customers either at the time of issue or at any subsequent time. (Yes, if any card available on Visa/master or RuPay card network then customers can request or bank ask you to switch to RuPay or Visa/master).
Click to expand...

This is THE thing the customers always wanted... not necessarily with respect to 'Rupay" , it applies for switch from Visa to Master or vice versa..
This empowers customers to their liking....

I already mentioned in my previous posts.. it is the high time for "RUPAY" to up their game if they want to compete against giants... The govt can only do so much, the organisations also have to do their bit as well.
It is a commercial world and capitalism at play...

But as you said if they want to confine theselves to lower end of the market, they can keep doing what they are doing...
The organisation need to first fix their goals and mission very clearly for short, medium and long term, and ccordingly they can plan and act.

As far as customers are concerned , this( point 2) is a big win from the issued guidelines:
(Yes, if any card available on Visa/master or RuPay card network then customers can request or bank ask you to switch to RuPay or Visa/master).
 
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