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Can Rupay replace Visa, master card?

Created by : Ekta Dutta, Hedge Fund Analyst/Trader, ING Vysya Bank  | 03 22 2011 05:46:49 +0000
Industry : BankingFunctional Area : Innovation(Strategy & Execution)
Keywords : india indian rbi visa mastercard e & y rupay ernst and young bank. local banks
Activity:  885 views;  last activity : 03 25 2011 08:55:40 +0000

Finally we have an Indian version of the card available.. It will be called "Rupay".. With such a late entry into market when we are already used to using Visa and mastercards.. Did we even need to develop an Indian card!! Whatever will you submit your Visa and go for Rupay? Its functionality is same as your present card. The only thing is its Indian version. E & Y will develop and roll out the entire architecture, including the design and software for the Rupay card rollout. Will it replace Vis and master cards all around INDIA?

http://www.thewheelsandwings.in/userfiles/Credit_Card_Logo_Visa_Mastercard.jpg

  
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It will take long .. too long but Hum honge kamyaab ek din..
By Ekta Dutta, Hedge Fund Analyst/Trader, ING Vysya Bank  03 22 2011 05:46:49 +0000
 
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Thanks Ekta for the referal. Yes obviously I will go it. The first reason is emotional. The second reson is practical. See after all the abuse the card is subjected to their might be some technological advancement might have been done to safequard the interest of the owner.
By Aditya Sharma, Insurance Advisor/Analyst, LIC OF INDIA, ICICI LOMBARD  | 03 25 2011 08:55:35 +0000
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yes offcourse...although we have master and visa cards which have great subscriber base but RUPAY will gone make it as we r a developing country and hav a huge market for it ...yes it gone take some sometime but it would be huge success for india...........
By Sandeep sharma, MBA(finance),BE(electrical), STUDENT  | 03 22 2011 16:23:05 +0000
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OFFCOURSE YES, AFTER GREAT SUCCESS OF INDIAN CURRENCY SYMBOL INDIAN CARD VERSION RUPAY WILL GET A BUMPER SUCCESS, NO DOUBT.
By Surendra Pal Singh, Head/VP/GM-Accounts, D. K. Fine Art Press Pvt. Ltd.  | 03 22 2011 14:03:25 +0000
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yes definitely ..b'coz all d money deposited by politicians n ministers in swiss bank ..n our govt just ditributing the masterrcards n visa . when we have our money in foreign banks ,so our govt promoting for mastercard ,visa ....
By pushpendra singh, Freelancer, IT Services  | 03 22 2011 09:05:56 +0000
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thanks EKTA FOR USEFUL THOUGHTS BUT IT WILL TAKE TIME TO CAME IN LIGHT ..........
By MANVEER SINGH, Sr. ENGINEER-Marketing , BEML LTD(APSU)(UNDER MOD)  | 03 22 2011 06:42:10 +0000
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thanks for new info, just now i searched about rUPAY, really one day we will win
By manish kumar, SEO | Web-cms Developer | FreeTips-- shoot me an email | Mobile SEO | Do more than Just !  | 03 22 2011 06:34:40 +0000
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Yes. Certainly, Ms. Ekta. I am 100% sure that Rupay will replace all other cards in a short time. May be 2 to 3 years ?
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  | 03 22 2011 06:19:39 +0000
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I endorse Mr. Sudershan Rao's views. Visa and Master Card have penetrated Indian market to an extent, it will take years to undo their penetration. RUPAY, of course, will create a new market for farmers, merchants in mofussil townships, and small businessmen, if they give some sops to their purchase. Establishing a system similar to Visa and Master Card will take a while, and operationalising and scuttling issues related to fraudulent usages and all will certainly take a longer time than we think!
By S. Muralidharan, Executive Director, Knowledge Foundation & Campus Around the Corner  | 03 22 2011 16:13:06 +0000
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No definitely not because just creating a card is not enough. one has to get acceptance of merchants, should be accessible in any atm, for all this the card issuer has to establish necessary infrastructure, should enter into business arrangements and so on so forth.
By kanukurthy sudershanrao, Operations Manager, Andhra Bank  | 03 22 2011 15:09:25 +0000
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