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you are here: HomeNewsOpinion

Zero transaction fee at the heart of Visa’s complaint about RuPay

Incumbent card networks face pressure from alternative real-time payment systems in many countries

November 30, 2021 / 01:27 PM IST
Zero transaction fee at the heart of Visa’s complaint about RuPay

(Representative Image: Reuters)

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Card network company Visa Inc.’s complaint to the United States government about India’s promotion of RuPay follows a similar one by rival Mastercard three years earlier. At first brush, it is a bit surprising. The two US companies still dominate the market in terms of transaction value, while the National Payments Corporation of India (NPCI)-owned RuPay is far behind. In September 2021, for instance, payments to merchants using RuPay cards was just around 14 percent of the total transacted value for...

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