What is difference between Rupay cards /Master card/Visa cards
You must have used money. In today's world, money is everything for everyone because if there is no money then people cannot fulfill their needs. As you know that money is the medium of exchange to fulfill the human wants. All people earn money by doing some work, and try to fulfill their needs with that money, and also save a little of the money that they earn, so that in future they He can earn money. In the earlier times, everyone used to keep their money with themselves, but now all people keep their shaving and income in the bank, so that it can remain secure. The bank keeps this money with the bank, and whenever the customer want it, he returns it to the people. And to do all this work, he charges some service fees.
In today's time, Digital Transactions are growing very fast, in view of this, banks also provide debit card and credit card facilities to their customers. But there was a drawback in this, you can pay only those who have bank account in your same bank. For example, one person goes to the nearest shopkeeper for shopping, then if the person has a debit card of HDFC Bank, then shopkeeper should have a bank account in HDFC bank, Then only the customer can pay It and payments will accept by the shopkeeper. It was a big drawback of Debit cards before visa cards
How it Debit and credit card works?
All these companies typed with all the banks and created a network, due to which they can easily access the accounts of all banks and debit and credit from those bank accounts. This company currently provides a unique code number to the bank and they ask banks for prints this number of their customer debit cards & credit cards with the branding of Visa card and MasterCard card & Rupaay cards
What is the use of all these cards and why ?
Earlier, Customers had to face a lot of difficulties in making payments to someone, because the front of the bank account was compulsory to pay someone in the same bank account, only then this payment can be successful from debit card to Cedit card. Used to be After the arrival of 'Master Card' 'Visa' and 'Rupees card, you can pay these cards from me to any bank account, you will not face any kind of trouble, no matter who is the account holder of any bank
This question must have arisen in your mind that Master Card and Debit Card makes sense that it works at international level and it helps people a lot in transactions, but you must have heard about Rupay Card, then how would it work? Is and how it is different from the rest.
Rupay card Rupay Card is an India brand company and or its entire network or works in most of India now or has started working at international level also we had only two options in the first option to pay the payment. Was The first was the Visa card and the Master card, later the rupay card was invented to cater to the need of India. India-based company NCPI, which works to monitor the entire transaction. He started RuPay Card RuPay Card. According to the RBI report, more than 60% people are using Rupay card in India today.
Conclusions
If we talk about Master Card, Visa Card and Rupay Card, there is only one function of all three cards to make the transaction successful. Right now the name of the card is different, the country origin is different but everyone has only one objective to make the distance transaction with all the banks more easy for the people so that the customer can feel free to pay anywhere.
Any type of customer does not have to face a barrier and their transaction becomes obsolete irrespective of the account holder of any bank.
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