We use our ATM card to withdraw cash or shop almost every day, but how many of us are aware that RuPay cards issued by banks come with free Rs. 2 lakhs protection. At the same time, this service is available after opening a bank account in each of the country's banks. This facility was established by the Modi government to foster a cashless economy.
The first RuPay Global Card was released in the year 2014, which is managed by NPCI in India. While RuPay Global Cards issued by NPCI run on the Discover Network, when they are used outside India. This partnership has helped India's native card payment network RuPay to expand its reach worldwide.
RuPay Global Card comes in five variants i.e., RuPay Classic Debit Card, RuPay Classic Credit Card, RuPay Platinum Debit Card, RuPay Platinum Credit Card and RuPay Select Credit Card.
What is Rupay Card?
Made up of two English words, Rupees and Pay. While the networks like Visa or Master debit card that we are currently using are based on foreign payment system.
Earlier we used to pay a fee and stay dependent on foreign countries, while now India has all kinds of technology available with the launch of RuPay card, which is cheaper than other cards.
Benefits of Rupay Card
Are you aware all RuPay is offering complimentary personal accident insurance and permanent total disability cover on all RuPay Debit Card variants?
1. A free personal accident insurance cover worth Rs 2 lakhs is given to every RuPay Select Credit Cardholder.
2. Cardholder also gets 5% cashback on ATM and 10% cashback on POS on using it abroad.
3. More than 700 lounges around the world and over 30 lounges in India are available for free Domestic and International Lounge facilities.