Hi Guys,
Recently, on 25-Feb-2025, NCPI (Rupay) released the following document (see attachment). The document explicitly gives information about the benefits of RSDC, the reference cost of features offered by this card, and the calculation methodology to ascertain the probable actual cost to the participating banks for these vouchers offered. Let’s debate and discuss to understand the future of these cards from a customer’s point of view. It is almost clear that a
major portion of the cost will be borne by the participating bank. Hence, what is your view on the following?
1. Whether these offers are sustainable?
2. Why Rupay has suddenly made this U-Turn?
3. How are banks going to respond in future? In terms of increasing fees, or limiting benefits or stringent criteria to get these cards.
4. What can we do to safeguard or delay the devaluation process?
I don’t want this to end like RPDC.
Now, coming back to the content.
Followings are applicable from 1st April 2025.
A. Rupay Select Debit Cards – Features and Benefits
| Feature | Program |
| RuPay Lounge Program | Domestic Airport lounge program for RuPay Select Debit Card provides access to cardholders one (1) time per calendar quarter per card in any of the participating Domestic Airport lounges*. International lounge program provides access to cardholders two (2) times per calendar year" in any of the participating International Airport lounges*. |
| Personal Accident Insurance** | Personal Accident Insurance cover (Accidental Death or Permanent Total Disability) of upto Rs. 10,00,000. Cardholder needs to perform minimum one successful RuPay Card induced financial transaction at any POS/E-com, Intra or Inter-bank i.e. on us or off us within 30 days prior to date of accident including accident date of RuPay Cardholder. |
| Gym | 1 Complementary Gym membership every quarter (90 days for Home Workouts or 30 days for the Offline Workouts) |
| Golf | 1 Complementary Golf Lesson or Round every quarter |
| Health Check Up | 1 Complementary health check-up package every quarter |
| SPA/Salon Services | 1 Complementary SPA session or Salon service every quarter |
| Travel | 1 Complementary INR 100 coupon for cab service every quarter |
| OTT | 1 Complementary 12 months Amazon Prime or Hotstar membership or Sony Liv membership every year# |
| Concierge Services | Personal Assistance Any1ime, Anywhere. 24*7 assistance is available in Hindi, English, Marathi, Gujarati, Punjabi and 4 south Indian languages on the toll-free number-1800-26-78729 |
| Exclusive Merchant Offers | Exclusive offers from partner merchants (Link: https://www.rupay.co.in/rupay-offers) |
Note(s):
*Refer list of Domestic and International Lounges on
https://www.rupay.co.in/lounges
**The circular for Insurance Policy Details is available on the RuPay website-"NPCI12023241RuPay1034" #Calendar Year will be considered from January to December
1. All the aforesaid features come with a bundled pricing of INR 250/- per card per annum. The same will be collected quarter-wise from the banks based on the number of RuPay Select debit cards reported by the banks in the MCPR.
2. The utilization of features is capped as per the below table.
B. Costs of the Features Offered & Proposed Utilization Expectations
Category | Merchants | Cost To Bank (INR) | Rupay - Proposed Utilization Expectation (@Rs. 250/ bundled price) |
Travel | Ola/Uber | 100 | 1% |
Golf lesson/round | Golftrioz | 2,420 | 1% |
Gym | Cult.fit-Home Workouts / Cult.fit-Offline Workouts | 1,429 / 3,850 | 1% |
Health Check Up | Thyrocare / SRL Diagnostics | 989 / 1,099 | 2% |
OTT | Sony/Amazon/Hotstar | 1,499 | 2% |
SPA / Salon Services | The Four Fountain SPA | 2,200 | 2% |
| Kairali Ayurvedic SPA | 1,500 | |
| Aroma Thai | 2,970 | |
| O2 SPA | 1,650 | |
| Lakme salon E-Gift Card | 1,500 | |
Lounge | Collinson | 1,275 | 3% |
Note(s):
1. The above prices are indicative and subject to change in case the merchant revises the same.
2. The above rates are exclusive of taxes.
3. For features where more than one merchant has different costs, the overutilization shall be calculated as per the average cost per visit of a particular feature for the Bank.
4. The utilization limits of all the features would be calculated based on a) 100% of the card base at the end of the previous period and b) 50% of the cards issued in the current period. The utilization report of all the features will be shared with the banks on a quarterly basis.
Please note that the features' capping structure shall apply to the bank's complete RuPay Select debit portfolio and will not have any impact on an individual cardholder.
Other information related to how much each participating bank will actually be charged based on their customers' utilization rate of offered features is also available in the said document.
Note: Though this document is not new to the TF community and has been shared by many members, I truly feel the objective of those threads was different. Hence, I am creating this thread for easy reference and related discussion.
All is well, All is well.
RSDC Feature Redemption Link:
https://www.rupay.co.in/our-cards/rupay-debit/rupay-select
List of RSDC Lounges:
https://www.rupay.co.in/lounges
RSDC Merchant Offers:
https://www.rupay.co.in/rupay-offers
Reference:
1.
https://www.npci.org.in/PDF/npci/ru...-Select-Card-Program-w-e-f-1st-April-2025.pdf
