Why is RuPay so important for India ? | TCC

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00:00 Introduction
02:16 What Visa and mastercard do
05:00 The monopoly of Visa and mastercard
07:05 Impact of Rupay Card

The introduction of the RuPay card has revolutionized India's payment landscape by enhancing financial inclusion and reducing dependency on foreign payment networks like Visa and Mastercard. Launched in 2012 by the National Payments Corporation of India (NPCI), RuPay offers a low-cost, secure, and efficient payment solution for millions of Indians, especially in rural areas. With its widespread acceptance across ATMs, point-of-sale terminals, and online platforms, RuPay has empowered local banks and provided an affordable option for digital transactions. Its adoption has surged with government initiatives like Jan Dhan Yojana, boosting cashless transactions and contributing significantly to India's digital economy.

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