@Abhishek012 , There is no meaning in your statement.
First it should come from Govt and banks. Not from People.
Employees of PSU can't decide anything, Only from Top management and Govt.
Recently you tweeted for CULT membership of Rupab, likewise tweet for these too.
1. Businees CAN'T disable RuPay CC option. If it is implemented, the usage will be high. Nowadays no use many people, because 99% business disable it.
2. PSUs issue only RuPay debit and credit cards.
3. More offers from RuPay than VISA, Mastercard, and AMEX.
4. RuPay Debit card gives 5% cashback. If they provide, more usage.
5. RuPay Salary Debit card with a lot variants with huge cashback, offers, benefits and discounts.
and Many more.
In govt jobs, there’s no such thing as credibility and responsibility, especially when there’s democracy.
Recently, there was a PSU bank employee arguing here on Technofino saying, “It’s my choice, I can issue either Visa or RuPay.”
Try saying that openly in a private bank, where they have agreements with Visa/Mastercard — if the employee starts issuing RuPay to everyone, He’ll be instantly fired.
PSU banks have signed agreements with RuPay but employees still do whatever they personally want.
Lets talk about offers on debit cards -
Look at RuPay debit cards — especially RuPay Select debit cards — they’re offering so many benefits, right?
It depends on your mindset — how you choose to see things.
Visa/Mastercard debit cards focus more on spending behavior because for the last 60+ years, they’ve already stabilized issuance and transaction volume.
RuPay debit cards focus more on card issuance and increasing volume, because it’s still a relatively new company.
Look at the benefits —
Almost all benefits exist for Visa/Mastercard/RuPay debit cards are same (I’m specifically talking about RuPay Select debit card).
For the RuPay Platinum debit card — it had active 20% off upto 100 on Amaozn and Swiggy offers for nearly 6 years.
And every offer has an expiry date — that’s common sense. PSU bank Visa debit cards remained quiet for many years — the moment PSU bank Visa debit cards start gaining ~40% market share, I’m sure RuPay Platinum debit cards will again introduce new offers to regain share.
So, about your earlier comment that Visa debit cards give 5% cashback — RuPay has adopted a slightly different approach. RuPay is focusing more on issuance and overall transaction volume and it’s giving benefits worth around ₹5,000 to ₹7,000 (and in some cases even more like ₹10,000 to ₹12,000 per RuPay select debit card), that too without requiring any spending.
Visa debit card, which is a 60+ year old company, makes you work for that 5% cashback because it wants market share through value — it’s an older company that's why.
Now about the RuPay CC UPI disabled option -
First thing: merchant disabled RuPay CC
on UPI transactions, not RuPay CC (I mean RuPay Credit Card swipe transaction).
Now the important part:
Recently, some articles mentioned that the number of merchants accepting RuPay CC on UPI is actually higher compared to those accepting cards via POS machines — and this number is increasing every year (This was actually stated by the banks themselves in a recent article because banks have the real data. You and I only have limited info regarding how many merchants were added for POS machines and how many were added for CC on UPI. And there are more merchants for CC on UPI).
The sudden disabling we saw was initiated by the banks themselves — because full KYC is required for merchants who want to accept RuPay CC on UPI. And tomorrow, if fraud or chargeback happens — the bank needs a way to recover the funds (this isn’t my theory — there was an Economic Times article about this). It will take few years time to complete full kyc for every merchants.
And recently I read that NPCI is working with banks to negotiate with merchants regarding MDR on credit card payments via UPI.
Ultimately, it’s up to the merchant whether they want to accept CC on UPI or not — but in the next few years, NPCI/Banks will push towards this: if merchants are already paying MDR fee for accepting CC via POS terminals then they should also accept CC on UPI.
Otherwise, merchants who don’t want to pay MDR simply won’t keep a POS machine — and in that case, you won’t even able to swipe Visa/Master/RuPay CC at all.
Let me tell you one last interesting fact — NPCI obviously wants merchants to remain within NPCI’s ecosystem. Whether the merchant wants to pay MDR, then it should be on CC via UPI and if not then through bank-linked UPI.
NPCI certainly wouldn’t want merchants to become comfortable with paying MDR on CC via UPI and then tomorrow start accepting Visa/Mastercard CC using Bharat QR or POS terminals. Think from a business mindset. If you were the CEO of NPCI/RuPay, what would you want? You’d want merchants to stay within NPCI’s ecosystem, right? You wouldn’t want them getting accustomed to paying MDR so that eventually they start using Visa/Mastercard CC acceptance as well, correct?
A balanced approach is needed—and merchant acquiring costs money, bro. Visa also wasted a lot of money in India on mVisa QR and Bharat QR but even for Visa, the results still haven’t turned out very positive.
