raghav_mri
TF Buzz
I raised an request for Axis Bank PNO to change my rewards credit cards from Visa network to MasterCard network but they are saying that it is not possible to do so. Shall I raise an request to RBI Ombudsman portal for the same?
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RBI Final Notification Regarding Card Network Change And Agreement
- Thread starter TechnoFino
- Start date
6ix9ine
TF Ace
Have you seen Axis rewards credit card in MC variant?
If yes, feel free to raise it
If not, then confirm if that card actually exist or not. If it doesn't exist then how will they issue to you?
RBI notification says, if the card exist in a particular network say MC, VISA, RUPAY then you can switch between them.
Any particular reason to go for MasterCard network?
Abhishek012
TF Pioneer
Mastercard kon use karna hai.
Itna acha Visa card hai, RuPay available hai toh woh le lo, nahi hai toh stay with Visa card.
Visa Master anyone will work for any card. But never go for Rupay unless you have some specific requirement or are into shady things.
Abhishek012
TF Pioneer
LOL, always apply for RuPay card, if you get same benefit.
Visa is best only for ultra premium cards and few cashback cards and if you frequently use International transaction.
Otherwise never apply Visa/mastercard variant.
If you dnt do this then Govt, RBI and RuPay's owner banks will force customers or devalue all the cards. So that customers run out of choices.
I have been saying this since 2017. People still don't understand.
RuPay needs to have more than 60% of the credit card issuing market share anyhow in the next decades.
That's why it is necessary to issue as many RuPay credit cards as possible, otherwise, in the future, no high reward or cashback cards will remain. Banks will devalue everything.
At the Global Fintech Fest, I saw something interesting. One of the board members of NPCI is the head of PNB Credit Card. I mean, I don't remember his exact position, but he was highly praising the relationship between PNB and RuPay credit cards.
My mind was like, 'WOW!' I mean, if NPCI board members are also from SBI, ICICI, or HDFC, then they would obviously favor RuPay.
And maybe that’s already the case because around 2018, there was an article in Economic Times stating that NPCI had a closed-door meeting with its board of directors. After that, there were some strange unofficial statements from people at SBI, ICICI, and HDFC banks (as reported by Economic Times, they didn't want to disclose their names), saying that within the next 15 years, people would stop using credit cards. I had my doubts back then that these people were preparing for credit card on UPI.
@panu24
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