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Devaluation Smartbuy 5% Cashback on train booking is gone ,Is there any other alternative ?
- Thread starter chaubvk
- Start date
Do you get same rewards and benefits on rupay network. I have regalia gold on Mastercard network I want to change it to rupay network. Also can we use any rupay card for upi, what’s the reward rate?
ManojGowda
TF Premier
does booking train tickets though amazon incur any payment gateway charges on amazon app?
I know there is 35 or odd agent fee, any other charges other than this?
Does using amazon pay card give 2% cashback?
I know there is 35 or odd agent fee, any other charges other than this?
Does using amazon pay card give 2% cashback?
Batmanbaba
TF Legend
It gave me only in first month after they started giving cashback direct to card...i checked last months statement now....only got 5% smartbuy cb....so might be some error but they didnt reverted the 5% extra cashback given till now
Batmanbaba
TF Legend
It gave me only in first month after they started giving cashback direct to card...i checked last months statement now....only got 5% smartbuy cb....so might be some error but they didnt reverted the 5% extra cashback given till now.....
TakeNoFineOh
TF Buzz
Yes same rewards on Rupay card too. But there is a cap on max reward points on UPI spends. Also sometimes they won't convert LTF Master to LTF Rupay , they say you need to get a paid version. Give a little fight and they will accept LTF to LTF conversion.
1.33 reward rate only but as you know it's on flight bookings, GVs fetch lesser rate
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Manikanta Svm
TF Buzz
what about ixigo au credit card? this gives 20 points for every 200 rupees spent zero PG fees as well twice a month
crazyuploader
TF Premier
At least, good thing that 1.8% additional isn't charged
crazyuploader
TF Premier
Can we use Millennia to have 5% for Amazon GV?
Abhishek012
TF Pioneer
No, RuPay network give you 10 times more reward than visa/mastercard (just kidding). 🤣🤣
Pata nahi log aise faltu k ques kyun puchte rahete hai, RuPay is just a card network similar to Visa/mastercard.
All offers, rewards, cashback offered by banks.
Anyway, i think Regalia gold is currently not available on RuPay.
HDFC Regalia, Regalia Business, Regalia First available on RuPay network.
People with half baked knowledge trying to act over smart. Card network plays a major role in your rewards a customer gets. Banks don’t give out rewards from their coffers it’s derived from MDR charges and banks need to give card networks fees to facilitate the transaction. You don’t see a difference between Visa and Mastercard because they nearly similar fees to get more business they strike exclusivity deals with banks so that a particular card is issued only on their network. Fees charged by rupay network is not very well known and fees revolving around UPI is another aspect that’s not well known.
If there’s no difference why government is issuing mandates and circulars to increase issuance of more cards on rupay network and giving same rewards on rupay network.
The NPCI has mandated that banks must provide equal rewards for UPI payments with RuPay cards, except in rare cases where no fee is earned.
Community is there to share knowledge and help others not for being a jackass.
Abhishek012
TF Pioneer
I was just saying casually bro, because people keep asking same question all the time.
If you seriously want knowledge, then let’s do it, woh meme tha na "aao ab dekho mai kya karta hu" 😀😀
Ya same, people with half baked knowledge trying to act over smart. For example - NPCI/RuPay is private company not govt company but everyone think NPCI/RuPay is govt company. 😜😜
Ok, now come to the main point -
Visa, Mastercard, and RuPay rewards and MDR are the same. In fact, banks get more profit from issuing RuPay credit cards because RuPay doesn’t collect various types of charges/fees from banks.
So, let’s get to the point— why aren’t banks quickly issuing super premium/ultra premium cards on RuPay, If rewards and MDR are the same ?
First, RuPay's job is to properly integrate its cards with bank software and make them live.
ICICI Bank is the best example:
ICICI Bank took 8 months to issue the Coral RuPay card to customers after the announcement.
Even after customers received the card, issues with payments via IMPS/NEFT/UPI, etc., and third-party apps for RuPay credit card bill payments weren’t working. It took a total of 1 year to fix that.
Then, ICICI faced issues with the RuPay Coral card BIN, which took 2 years to resolve.
As for rewards, I think ICICI Bank took almost 3 years to resolve the reward points issue with the RuPay credit card.
ICICI has to update all these things in their banking software one by one, which takes years.
This is RuPay’s primary task, and the COO of NPCI had mentioned this in an interview a few years ago.
Before all these issues were properly live, RuPay couldn’t have rushed to launch a super premium/ultra premium card.
Now, the second thing—do you know that the user base for super premium/ultra premium cards is only around 1000 to 2000 people? In some cases, it might go upto max 10,000. People who actually benefit from credit card rewards, they won’t be more than 2000.
Why would RuPay put in so much effort for just 1000-2000 customers, when there’s such a huge market for basic to premium credit cards?
If you have any doubts about this 1000-2000 super premium/ultra premium user base, just go and ask any well educated credit card influencer.
Recently, in a podcast, ICICI Bank said that 60% of its credit card user base is with the ICICI Platinum credit card.
That’s why RuPay issuing the ICICI Coral card to everyone.
Third point, well, this point no longer makes sense because, at one point, banks used to partner with card networks.
RuPay also partnered with some private banks.
But now, RBI has prohibited such agreements.
This is not just in favor of RuPay, but also in favor of Visa/Mastercard, because some banks were issuing only Visa or Mastercard for years. Now, they will issue both Visa and Mastercard, along with RuPay.
Now, let’s come to your interesting question: ‘Why NPCI has mandated that banks must provide equal rewards for UPI payments with RuPay cards.’
Here’s a simple answer—Visa and Mastercard also issue similar types of circulars.
I know Visa and Mastercard don’t have UPI, but I’m talking about circulars related to equal reward points, etc.
However, because Visa and Mastercard are ‘for-profit’ companies, they don’t release such circulars to the public domain.
In the future, RuPay might also stop making these circulars in public domain when it becomes a ‘for-profit’ company.
Anyway, the most important and the best answer to your question is this (Read it carefully with a calm mind, then you’ll understand):
Look, there’s still no proper circular or standardization for ‘credit on UPI.’
Don’t just take my word for it—read some articles where even banks are questioning NPCI on why there’s no proper standardization for ‘credit on UPI.’
But NPCI is currently stuck in a ‘chicken and egg’ situation in the 'Credit on UPI' business.
Until now, the world hadn’t seen an instant payment system being used for 'credit' payments.
Everyone was familiar with card payments, which is why there weren’t as many issues.
If you think I’m joking, read about the recently launched USA’s instant payment system ‘FEDNOW.’
The USA’s ‘FEDNOW’ proudly claims that it has the advantage of being a second mover.
This is because ‘FEDNOW’ learned from the mistakes of India’s UPI and Brazil’s PIX.
‘FEDNOW’ says that, compared to UPI and PIX, their instant payment system will rarely fail, because it’s a cloud-based instant payment system.
NPCI has also stated many times that when UPI becomes a fully cloud-based instant payment system, failed transactions will decrease.
To put it simply—NPCI is innovating something globally and setting a standard for it.
Just as Einstein gave the world E=mc²,
Visa and Diners Club gave the world a card payment system,
NPCI has provided an upgraded version of the instant payment system, which could replace the card payment system.
In India, books are already being written about UPI and it’s being taught in schools, but globally there are also some books that mention about UPI.
Just two days ago, researchers and professors at the University of Oxford in England were discussing about UPI.
Yes, you read that right— I said University of Oxford, England.
Dost, understand this: the world had not seen such an instant payment system before UPI. This is how technology and innovation happen, and later on, we study them in school books.
So issuing a circular for equal rewards for UPI payments with RuPay cards is a normal thing. At one time, even reward points on credit card payments were introduced to the world for the first time by Visa & Diners Club.
But now it’s the bank that decides how much reward/cashback to give, based on the card tier.
UPI works the same way; the bank decides how much reward/cashback to give, it just shouldn’t be less than what other competitor networks, including RuPay network too. That’s all the circular says.
@Rahul098
@HumorSimpson
NCPI is a private company the push from government is to support indian card network so that profits remain in the country which will boost the economy.
Cloud is no magic pill it provides same infrastructure as you will have in an on premises data centre, it provides infrastructure as a service so you just have to pay the subscription cost and the initial investment to setup a data centre and operational overhead to maintain it is reduced. The only real advantage you get is you don’t have to perfectly size your system and as in cloud load balancers can scale up and scale down your infrastructure based on load.
Coming to integration of Rupay with banking systems integrating any software/API is never a one way task both software vendor and client have work on it together as there’s no one size fits all in software enterprise.
NCPI is doing great work and UPI is one of the key innovations in world banking and finance.
It was government’s desire to cut dependence on foreign card networks that gave birth to NCPI and for the same reasons government is trying to push it via mandates and circulars some of them are fair practices and some unfair( like pushing PSU to issue most cards on Rupay network )
ShankarW
TF Buzz
Share with me too ser. When I asked them, they said you can't have it if you already have a core card.
Pack_of_Cards
TF Premier
HDFC is very stringent in giving IRCTC card