E-RuPiyo Online Shopping Site, erupiyo - Palanpur

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RuPay is an Indian domestic card scheme conceived and launched by the National Payments Corporation of India (NPCI) on 26 March 2012.[1] It was created to fulfil the Reserve Bank of India's (RBI) desire to have a domestic, open (four-party), multilateral system of payments in India. In India, 90% of credit card transactions and almost all debit card transactions are domestic; however, the cost of transactions was high due to the dominance of foreign card schemes like Visa and Mastercard. RuPay facilitates electronic payment at all Indian banks and financial institutions.[2] NPCI maintains ties with Discover Financial to enable the card scheme to gain internation In 2009, the Reserve Bank of India requested the Indian Banks Association to create a non-profit company to design a card scheme that would challenge the duopoly of Visa and Mastercard. The card scheme was tentatively referred to as the India Card. The scheme was conceived by the National Payments Corporation of India as an alternative to the Mastercard and Visa card schemes,[2][6] and to consolidate and integrate various payment systems in India. It was renamed to RuPay to avoid naming conflicts with other financial institutions using the same name.[7] RuPay is a portmanteau of the words rupee and payment.[8] The colours used in the logo are an allusion to the tricolour national flag. The RuPay card scheme was launched on 26 March 2012. The NPCI entered into a strategic partnership with Discover Financial Services (DFS) for RuPay, enabling the acceptance of RuPay Global Cards on Discover's global payment network outside of India.[9][10][11] On 8 May 2014, RuPay was dedicated to India by the then President of India, Pranab Mukherjee, at the Rashtrapati Bhavan in New Delhi.[12][13][14][15][16] As of July 2018, RuPay cards have been issued across the length and breadth of the country to savings- and current-account holders of over 1100 banks in India. Apart from the main private- and public-sector banks, RuPay cards are also issued by cooperative banks (scheduled cooperative banks, district cooperative banks, state cooperative banks, urban cooperative banks) and regional rural banks (RRBs) in the country.