Difference between rupay and visa atm cards

   Basic Difference between Visa,Master card and Rupay card

Do you know the meaning of Visa, Master cards written in Debit cards, many of you will not know, so let's discuss?

We all have debit car,how is it  possible, This all possible due to Transaction company like Master or Visa card both are US based companies they have contract with  banks of all over the world,when we swipe Our card of SBI on  Axis bank ATM we got cash from Axis bank Atm but Amount is debited from our SBI account, what happens is the system sends input details to visa in the US, then visa start connection between SBI and Axis bank and in this way transaction succeded. We can also use our Indian Debit card out of the country.d commonly known as ATM cards, which we usually use for cash transaction Green channel, online transaction, etc At top of the card there is bank name, card number, valid thru and in the back side there is three digit number which is called cvv. Do you know that we can use our Debit card all over india

But India Launches its own Transaction system Rupay, why? 

  Inspite of having Visa and Mastercard,india launches its own National bank transaction system Rupay Because Visa and Master card are american companies They charge high processing fee on every transaction , because they are operated in the US and Every single transaction  information is send to Visa headquater which is in the US and then it sends the information again to india, which causes delay in transactions and more processing fee,there are also some other Reason for introduction of own transaction system During cold war US block all Visa and Master cards in Russia, which cause a huge financial problem in Russia,so after observing these incidents India decides to launch its own Rupay.

Now here are some merits and demerits of Rupay over Visa and Master card

As Rupay is an Indian company it has many merits over foreign transaction company, the Transaction fees are very low as compared to Visa and Mastercard because there is no need to send information to the US and no need to pay tax to US government.

But there are also many demerits point, Visa and Master card have large Bank network across the world, whereas Rupay's network is only in India.                                                                          So Rupay card doesnt work out of country whereas Visa cards work all over the world.

So Rupay has its own Benefit and loss, Solution for this problem is ,using Rupay card for Domestic Transaction and use Visa or Master card forthe International transaction.    

  How to apply for Rupay or Visa?

You dont need to apply for Rupay,bank automatically give Rupay card,if You are going out of the country take Visa card, and if you dont have, then you can simply apply for it in Your Bank,you just only need to fill a Debit card form in which you will fill Visa or Mastercard in place of Rupay. You can apply for two Debit card from one Bank account, visit you bank for more information.