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Yes Bank releases credit cards on RuPay

Tuesday 7 December 2021 12:03 CET | News

India-based private sector lender Yes Bank has announced its credit card launching on the RuPay platform.

The bank partnered with the National Payments Corporation of India (NPCI) to provide RuPay with credit cards customers can use on the payment platform. 

The partnership aims to expand and diversify the bank’s client portfolio services, providing contactless and rewarding payment methods to Indian customers, while promoting the country’s digitalisation. However, the major drawback of RuPay is that it is mainly accepted by domestic payment gateways, which means carrying out international transactions might not be possible, as by comparison to card holders from major payment processors like Amex, Visa, and Mastercard.

Yes Bank has announced a partnership with Visa previously in September 2021 and was also linked to Mastercard before the American payment processor was barred from onboarding new customers in its domestic card network by the Reserve Bank of India. 

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Keywords: partnership, product launch, NPCI, credit card, virtual card, online payments, Visa
Categories: Banking & Fintech
Companies:
Countries: India
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Banking & Fintech