Our own payment gateway ‘RuPay’ is launched
India launched its own payment gateway 'RuPay', It`s equivalent of Visa and Mastercard, which will work on ATMs and merchant outlets and help in reducing cash transactions. President Pranab Mukherjee unveiled the indigenous card at a function in Rashtrapati Bhavan. Dedicating it to the nation, Mukherjee said India is one of the few countries in the world to have its own card payment gateway. RuPay, a new card payment scheme launched by the National Payments Corporation of India (NPCI), has been conceived to fulfill RBI’s vision to offer a domestic, open-loop, multilateral system which will allow all Indian banks and financial institutions in India to participate in electronic payments. “RuPay”, the word itself has a sense of nationality in it. “RuPay” is the coinage of two terms Rupee and Payment.…

